Kolkata's Nilhat House Is All About Tea

Have you ever wondered how the pricing of different varieties of tea is determined? J Thomas and Company in Kolkata's Nilhat House is one of the oldest as well as the largest tea auctioneer in the world. Here, tea tasters sample many different kinds of teas everyday -- checking for the quality of the leaves, how the infusion looks, and how it tastes. Based on this they classify various leaf varieties, which determines their price. The first tea auction at Kolkata's Nilhat House took place more than 160 years ago -- on December 27, 1861 to be exact. To this day, auctions continue to be a highly efficient method for trading tea. (Video credit: PTI)