The Grand Bazaar (Kapalıçarşı, 'Covered Market') is one of the oldest and largest covered markets in the world — 4,000 shops along 60 streets under a 30,000 sqm vaulted roof, in continuous trade since Mehmed the Conqueror commissioned it in 1455. The bazaar is organised by trade guild: gold and silver jewellery on Kalpakçılar Caddesi (the main spine), antique copperware around the central Cevahir Bedesten, leather around Kürkçüler, carpets in the side streets to the south, and ceramics and textiles scattered throughout.
A visit works best as a 2-3 hour stroll combined with focused shopping for a few items rather than aimless browsing. Carpets, kilims, ceramics from Iznik and Kütahya, copper coffee pots, Turkish lamps, and silver jewellery are the classic souvenirs. Bargaining is expected — start at 50% of the asking price, expect to settle around 65-75%. Shopkeepers will offer you tea (çay) as part of the negotiation; accepting doesn't commit you to buy. Skip the bazaar's overpriced food court and walk 10 minutes north to the Spice Market for lunch.
The Spice Market (Mısır Çarşısı, the 'Egyptian Bazaar') is the smaller, more sensory cousin — built 1664 next to the New Mosque at Eminönü. Pyramids of saffron, sumac, baharat, dried lemon, and Turkish delight (lokum) fill the L-shaped covered hall. Most stalls vacuum-pack spices for travel and can ship internationally. The flanking streets are where locals actually shop: cheese, olives, pickles, fresh fish at the harbour, and the famous fish-bread sandwich (balık ekmek) from the boats moored at Eminönü pier.
Closed Sundays. Both bazaars are at their best mid-morning to early afternoon (10 AM-2 PM); after 4 PM the cruise-ship crowds thin and you can negotiate more comfortably. Carry small notes in lira and watch your bag — pickpocketing is the main risk. Expect to be approached often: a polite 'no thank you' (yok teşekkürler) ends most pitches.