Sale of slaves in Richmond, Virginia (USA), around 1861. Private collection • BRIDGEMAN IMAGES The slave trade was governed by criteria of cost and profit, like any capitalist enterprise. On the African coasts, traffickers negotiated prices with local authorities and brokers, sometimes without real profit. In America, the captain made sure to place his “merchandise” at the highest price, using all commercial artifices. Slaves could be sold for up to 800 times their purchase price, but the costs and risks of travel were high. However, only rare expeditions ended in losses. Tips for presenting the “product” Shortly before the slave ship arrived in port, the crew members gave the slaves some care to make them more presentable. They shaved their heads and beards, smeared them with palm oil, purged them, washed them, and applied ointments to the wounds. In French, this cleaning was called "laundering". The ship was quarantined to prevent the spread of infectious diseases. After an inspection by a port doctor, the sale could proceed. Advertisement of batch or retail sale Posters were posted and announcements made in the local press or communicated orally. A cannon shot announced the opening of the slave market. The sale took place in several ways. The private planters bought at retail, according to their needs, while the intermediaries (or scrap merchants) bought more or less large batches of slaves to resell them. In the batches, the sellers often mixed healthy slaves with sick slaves or slaves of minor "quality", more difficult to "sell". Merchandise quality review At the time of sale, buyers were entitled to examine the "quality" of the slaves. In the West Indies, these were exhibited naked, mounted on a barrel or a stool, while in the North American colonies they were dressed in European clothing. The eyes, teeth and skin were mainly examined, as well as the robustness. Slaves were chosen according to their end use:the Congolese, small and nervous, were considered perfect for the coffee plantations. According to a French slave trader, strong children "are and always will be in great demand". Cash, credit and discount payment Payment was rarely made in cash, even though it was the preferred method of payment for traffickers, who then offered a 10 to 15% discount. Part of the price was paid in bills of exchange with variable maturity (1 month, 3 months, 1 year, etc.), which could not always be settled. The price also depended on market fluctuations and the scarcity or abundance of the “commodity”. After the sale, the master branded the chest or shoulder of the slaves he had become the owner with a hot iron. He also gave them a new Christian name.
