TorontoBuilder
Ultra Member
But using an auction as a stalking horse to establish that a price is a fair market price not only remains common but is also very ethical.Couldn't find the Soo policy but the Halton District School Board policy, for example, has options for disposing of surplus assets. When selling, it directs that 'Surplus Assets' SHALL be sold by auction. Since they were bought with public money it would be a breach of trust to let the asset go for less than fair market value. The HDSB policy references 5 other different policies including 2 related to ethics.
Are games played sometimes? Probably. But it would be taken seriously if discovered.
Craig
It is also often far easier for a board to sell a large lot of many machines to a single buyer than to try to sell to a lot of buyers.
The fact that no bidders were willing to pay a minimum $1000 bid suggests that if the Board sells the lot not thru an auction at $1000 per machine that they have indeed gotten a fair market price
It shall remain to be seen if these will be relisted or not.