"My instructions were to buy the box by auction, and to go up to five hundred pounds for it," was the somewhat hesitating reply. "I am unfortunately not in a position to divulge the name of my client."

"You can at least tell me your own name, or the name of the firm whom you represent?"

The young man quickened his pace.

"I can tell you nothing," he said firmly. "Good afternoon!"

Jocelyn Thew strolled thoughtfully back, made a few purchases wherever he was accosted, but had always the air of a man who is seeking to solve some problem. Issuing from one of the tents, he came suddenly face to face with Katharine and her brother.

"You are too late for the auction," the latter declared, as they shook hands, "and you wouldn't have got your box, anyhow. Do you know what it fetched?"

"Three hundred guineas," Jocelyn Thew replied with a smile. "I bought it at that."

They both stared at him.

"For three hundred guineas?" Richard repeated.

"I was rather lucky to get it at that. There was an anonymous bidder who fortunately hadn't got the cash with him, or I gathered that he was willing to go to a great deal more."