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Daily entries from the 17th century London diary
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The old-fashioned custom of sale by auction by inch of candle was continued in sales by the Admiralty to a somewhat late date. See September 3rd, 1662.
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CGS Link to this
Samuell gives a good description of the auction
[Inch of candle]
Michael Robinson Link to this
Aldermaston ready for candle auction tradition.
A candle auction is to be held at a Berkshire village later. The ceremony, which is held every three years, will see people bidding to lease a local meadow while a candle containing a horse-nail burns. The person with the bid when the nail drops out of the specially-made tallow candle will be declared the winner.
Continued:
http://www.bbc.co.uk/news/uk-england-berkshire-...