In Papua there was a highly organised system of ceremonial exchange within a certain specified area. Individuals or communities would give prized objects to a partner in the same or a different village. They would not immediately receive a gift in return but at a future date would receive something of at least equal value. The ceremonial giving or kula would take many months of preparation and was perceived as the centre of economic, social and ceremonial life; it not only provided prestige by the accumulation of prized objects but most importantly created a network of obligations which contributed to social stability: it also set up and reinforced trading routes.
A further form of exchange also existed whereby, if an item, such as one of the adze in the present lot, had a stable general value, then it could be used as currency. Those in positions of authority would store this 'currency' so that it could finally be distributed to the next generation, giving further honour and fame to the deceased and his descendants