1、Designation: E2858 12Standard Practice forSales of Personal Property1This standard is issued under the fixed designation E2858; the number immediately following the designation indicates the year oforiginal adoption or, in the case of revision, the year of last revision. A number in parentheses indi
2、cates the year of last reapproval. Asuperscript epsilon () indicates an editorial change since the last revision or reapproval.1. Scope1.1 This practice encompasses how assets may be sold.1.2 Sales of assets may be done when assets used by theentity are no longer required, or to sell assets acquired
3、 for thepurpose of sale or re-sale. The objectives of a sale will vary byentity; for instance, the goal may be to facilitate the replace-ment of assets, to obtain needed funds from sales proceeds, orsimply to remove assets from the entitys control and manage-ment.1.3 This practice does not include s
4、ales requirements orrestrictions specific to any regulatory body or the various levelsof government in which an entity operates. However, thispractice provides the entity options for flexibility to bestintegrate those external requirements.1.4 This standard does not purport to address all of thesafe
5、ty concerns, if any, associated with its use. It is theresponsibility of the user of this standard to establish appro-priate safety and health practices and determine the applicabil-ity of regulatory limitations prior to use.2. Referenced Documents2.1 ASTM Standards:2E2135 Terminology for Property a
6、nd Asset ManagementE2675 Practice for Property Management System Outcomes3. Terminology3.1 DefinitionsFor additional definitions for property andasset management, see Terminology E2135.3.1.1 lotting, lotted, vto consolidate or distribute assetsbeing sold into identifiable groupings, to be sold for o
7、ne price,to provide the best number of items or the best mix of differentitems with the intent to increase prospective bidder interest.3.1.2 terms and conditions, nbasis on which the sale,award, and transfer of the assets are to be conducted.4. Summary of Practice4.1 Entities sell assets for multipl
8、e purposes, often simply todispose of assets no longer required by the owning entity(“surplus” assets).4.2 Entities should implement asset management systems tooptimize performance in accordance with Practice E2675, suchthat sales decisions are supported by current and accurateinformation.4.3 Sales
9、should be conducted to maximize the benefit to theentity, while minimizing risks subsequent to the sale.5. Significance and Use5.1 This standard identifies cost-effective sales as a businessprocess of the entity. The central objective is to ensure thatassets are sold in a manner best suited to meet
10、the goals of theentity.5.2 This standard provides options and considerations totake into account to effectively manage the entitys assets whenconsidering asset sales.6. Decision Process6.1 Entities may consider selling assets to:6.1.1 Obtain funds needed to offset the cost of acquiringreplacement as
11、sets better suited to meeting the entitysrequirement,6.1.2 Obtain operating funds, or6.1.3 Eliminate operational costs associated with overallmanagement of the asset, that is, taxes and costs of custodialoversight.6.1.4 Facilitate the continued use of surplus assets whichavoids the assets entering t
12、he waste stream or the costs ofremediation.6.2 The sales method selected should take into account thereason for the sale and should consider the expected or requiredproceeds and the time frame in which the sale is to beconducted.6.3 An entity should evaluate expected sales costs andanticipated proce
13、eds and consider other methods of disposal ifthe net costs of sale are greater than the net costs of otherdisposal methods.1This practice is under the jurisdiction of ASTM Committee E53 on PropertyManagement Systems and is the direct responsibility of Subcommittee E53.04 onReutilization and Disposal
14、.Current edition approved Aug. 1, 2012. Published October 2012. DOI: 10.1520/E2858-12.2For referenced ASTM standards, visit the ASTM website, www.astm.org, orcontact ASTM Customer Service at serviceastm.org. For Annual Book of ASTMStandards volume information, refer to the standards Document Summary
15、 page onthe ASTM website.Copyright ASTM International, 100 Barr Harbor Drive, PO Box C700, West Conshohocken, PA 19428-2959. United States17. Pre-Sale Activities7.1 Asset records should be reviewed to ensure validity andaccuracy to guide the selection of the sales method and theprocesses. Considerat
16、ions should include the following:7.1.1 A clear indication that the asset is not needed withinthe entity.7.1.2 Eligibility for sale based on evaluation of the follow-ing concerns and the ability to economically address identifiedissues:7.1.2.1 Asset contamination by hazardous substances.7.1.2.2 Expo
17、rt control eligibility.7.1.2.3 Sensitive information in or on the asset (entityinformation or otherwise).7.1.3 Information, including, but not limited to the age ofthe asset, the original cost, current market or appraisal value,and the repair history can be used to develop current value andsales exp
18、ectations; and7.1.4 Condition and operating status of the asset must beaccurately portrayed.7.2 An assessment should be made regarding the market-ability of the assets considered for sale.7.3 Terms and conditions of sale need to be developed andpublicized consistent with the method of sale. The term
19、s andconditions should summarize how the sale will be conductedand how the buyer or winning bidder will be determined.Terms and conditions may include the following informationand instructions:7.3.1 Inspection opportunities;7.3.2 Condition and location of asset and sale;7.3.3 Eligibility criteria fo
20、r buyers and bidders;7.3.4 Consideration of offers and bids;7.3.5 Bid or offer deposits and payments;7.3.6 Submission of bids or offers;7.3.7 How transfer of title will be effected;7.3.8 Delivery, loading, and removal of asset;7.3.9 Default, returns, warranties, or refunds; and7.3.10 Modifications,
21、withdrawals, or late bids or offers.7.4 Assets should be lotted effectively to realize goals of thesale. Lotting of individual asset items can be used to targetspecific end users and better manage visual inspections. Largerlot sizes typically invite bids from large-scale processors andresellers, whe
22、reas smaller lot sizes facilitate the inspection ofindividual items of interest to the end user.7.5 Inspection of assets to the greatest extent possibleshould be encouraged to both generate interest in the asset andallow buyer or bidder confirmation of its condition.7.6 Advertising of sale should be
23、 consistent with the valueof the asset being sold, the method of sale, and the desiredoutcomes. Typically, the entity should expect higher proceedswhen advertising is spread to a greater number of people, ismore targeted to a specific audience, or is made through themost appropriate media. Advertisi
24、ng the sale through tradejournals, mass media, or to special interest groups should beconsidered.7.7 When third party sales are conducted, approval to sellmust be obtained from the owning entity.8. Sale of Assets8.1 Asset sales may be conducted by the owning entity or aqualified third party seller s
25、elected by the owning entity.8.2 Resources required at the sale may include storagefacilities, inspection facilities, cashiers, signage, customerservice personnel, security, capabilities to accept various pay-ment methods (such as credit card readers and cash for makingchange), receipts, export info
26、rmation, and title forms.8.3 Sales Methods to Consider:8.3.1 Public AuctionA competitive bid sale to obtainmaximum sales proceeds. Bidders typically know of other bidsso they can increase their bids in the attempt to be the highestbidder and obtain the asset as the winning bidder. Auction maybe held
27、 live, online, or both live and online simultaneously.8.3.2 Sealed BidSale in which the bidders are invited tosubmit their best offer for the asset offered for sale. Bidders arenotified of the winning bidder and sale price. Normally biddersdo not have a chance to revise their bids once submitted.8.3
28、.3 Negotiated SaleSale made without using a competi-tive bidding process to determine the final price. Final price ismutually agreed to by the buyer and seller. Price competitionmay be obtained at early stages of the process.8.3.4 Retail SaleA non-competitive sale where buyersmay purchase the asset
29、at a predetermined price.8.3.5 Absolute AuctionAtype of auction where the highestbidder acquires the asset being auctioned (irrespective of thebid amount) and where the item does not have a reserve pricebelow which it will not be sold.9. Post-Sale Activities9.1 The entity should ensure that the asse
30、t is ready fortransfer to the buyer as provided for in the terms andconditions.9.2 Once the asset has been provided to the buyer inaccordance with the terms and conditions of the sale, the assetrecord will be updated to reflect the sale and the fact that theasset is no longer available for use or sa
31、le by the entity.9.3 Sales documents and source data must be finalized andaccessible to provide a clean audit trail of the sale and theproper disposition of the asset.9.4 Metrics should be maintained to determine workload,sales proceeds, and efficiency of sales methods. Examples ofmetrics for consid
32、eration include volume of assets sold (quan-tity or value, or both), raw proceeds figures, percent of salesabove estimated fair market value, sales cycle time, andcustomer satisfaction ratings.9.5 Funds should be distributed in accordance with thepurpose for sale (see 6.1) or other agreements.10. Ke
33、ywords10.1 auction; bid; bidding; lotting; sale; terms and condi-tionsE2858 122ASTM International takes no position respecting the validity of any patent rights asserted in connection with any item mentionedin this standard. Users of this standard are expressly advised that determination of the vali
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