Word: auctioned
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Dates: during 1930-1939
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...marketing of tobacco products is a triumph of modern salesmanship but the marketing of raw tobacco is about two steps removed from trading with the Indians, who gave the world the weed. When his crop is cured the farmer takes it to a local warehouse for the traditional auction. There he does not have to take the prices offered. But since the farmer is perpetually hard up and the principal tobacco buyers can be numbered on the fingers, he actually has little choice. His neighbor at another warehouse may receive a higher price for the same grade of tobacco...
Blond, horsy and 42, President Hanes has no illusions that his tobacco board will revolutionize the tobacco industry overnight. It will no more replace the auction than the New York and New Orleans cotton exchanges have replaced the South's spot markets. But its quotations will give the farmer a yardstick; its facilities will enable him to sell his crop when he pleases, not simply when the auctions are held. And more important, if the market is active, it will permit growers, dealers, manufacturers, importers, bankers to buy insurance against price changes by hedging...
...Christie's auction rooms, London, a set of self-sketches by Charlie Chaplin, once the property of the late Sir William Orpen, was bought for $18 by Sir Alec Martin, Christie's partner...
...Thomas Fortune Ryan ($409,354), Mrs. Edith Rockefeller McCormick ($330.617), Mrs. Whitelaw Reid ($116,015) (TIME, Dec. 4; Jan. 15; May 14). The late Mrs. Benjamin Stern's library and 18th Century French collection brought $243,142. The highest price for anything was paid at the Ryan auction by canny Lord Duveen of Millbank who bid $102,500 for a marble bust of a Princess of Aragon by Francesco Laurana, 15th Century Florentine. Highest literary item was Francis Scott Key's manuscript of "The Star Spangled Banner," sold for $24,000 to Dr. Abraham Simon Wolf Rosenbach...
...18th Century English school of painting which always commands good auction prices was this year's unquestioned leader. Top artist was Raeburn with John Lamont of Lamont which went from one anonymous collector to another for $29,000. Others of the school: a small full-length Gainsborough from Mrs. Reid's collection, $5.100; a Lawrence from the late Henry Seligman's collection, $19,000; a Hoppner, $12.500; Isabella, Lady Molyneux by Gainsborough, $10,000; a Romney, $16,000. Millet's The Knitting Lesson, once owned by the late Levi Zeigler Leiter, was sold to Manhattan...