The auction sale. The auction sales group is made upof (1) the auctioneer, 
(2) the warehouseman or his representative, who calls an opening price, (3) a 
corps of buyer representatives (usually 6 to 8), known as a "set of buyers," 
and (4) the warehouse clerk who follows and records the details of the sale | 
(buyer's name and grade mark and the price bid) onto the basket ticket. Usually, 
a number of growers and other spectators are observing the sale. 
The starting price is made by the warehouseman or his representative, and 
since it indicates the warehouseman's valuation of the tobacco, it has an impor- 
tant effect on the bids and eventually on the price paid. The auctioneer calls 
out the starter's opening price, receives the bids, and announces the selling 
price and buyer when the bidding is finished. Various quick signs are made by 
the buyers and accepted as bids by the auctioneer, so the auction sale moves 
along very rapidly. In the flue-cured district, rate of sales is 400 baskets 
per hour, and in burley, 360 baskets. 
aN \s! 
Figure 34.--Flue-cured tobacco auction sale in progress. 
After the sale. As soon as the sale is under way, truckers begin moving 
the auctioned tobacco to side doors and loading it on trucks to be taken to the 
redriers or the repack houses of the various companies. 
A farmer has the right to reject the bid price offered for any basket of 
his tobacco. He does this by "turning" the ticket, that is, by folding it with 
a crease, tearing off a portion, or otherwise mutilating it. Such lots are 
usually "dressed up" and put back in line for later sale on the same warehouse 
floor. It is assumed that, at the second sale, it will be bid in at a higher 
price. However, the grower may take the tobacco to another warehouse or market. 
uP ee yAE 
