There are three pots because.....the larger free standing pot is for coffee. The smaller free standing is for tea (they are typically 1 - 2" shorter and slightly more narrow). The one on the stand is called the "kettle with stand".
When tea is served a very strong pot of tea is made, too strong to drink. You then have another pot that is full of hot water. You put a small amount of concentrated tea into a tea cup and then add water. This was how an afternoon tea could serve a large number of people/ladies without having to go and constantly make more tea.
The more elaborate pieces even have a waste bowl - a silver container much like the sugar container but without a lid - to put the tea grounds in.
I would say an easy $150.00+ if it looks as good up close as these pics portray (no silver wear, no dents/dings).
