The Pearl Buyers' Collusion
The PearlReveals the organized system of price-fixing among the pearl buyers and their attempt to cheat Kino.
increasing
Bearing strength in each event
decreasing
The Syndicate's Morning

The Pearl Buyers' Offices
The System
There is only one pearl buyer with many agents. They sit in separate offices, each with a black velvet tray. They know the price they will offer and the method each will use.
The Excitement
The buyers are excited by the hunt. Their function is to break down the price as low as possible. They take joy in it.
The First Buyer's Performance

The Inspection
The Coin Trick
The first buyer is a stout, fatherly man. He practices a coin trick while waiting. When Kino enters, he inspects the pearl with contempt.
The Low Offer
He offers a thousand pesos, calling the pearl a curiosity. He claims it is too large and worthless. Kino is outraged.
The Three Buyers' Act

The Collusion
The Second and Third Buyers
The first buyer calls in two other dealers. They each examine the pearl and dismiss it. One calls it a monstrosity, another says it is soft and chalky.
The Coordinated Attack
The buyers work together to devalue the pearl. They hope Kino will accept a low price. But Kino sees through their act.
Kino's Refusal

Kino's Defiance
He Leaves
Kino snatches the pearl back and declares he will go to the capital. The buyers are alarmed; they have played too hard.
The Buyers' Fear
They know they will be disciplined for their failure. The first buyer quickly raises his offer to fifteen hundred, but Kino is already gone.
Aftermath in the Town

The Neighbors' Discussion
Doubts and Theories
The neighbors debate whether the buyers were honest. Some think Kino should have taken the money. Others admire his courage.
The Buyers' Victory?
The buyers have not gotten the pearl, but they have set the price low. Kino's refusal may lead to his destruction. The syndicate's power remains unchallenged.
Morning of the selling day
Midday of the selling day
Later that morning
Later that morning
That evening