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Advanced Method

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Advanced Method

Step 7:  (Optional) Determine entitlements and appraise certain items.

A recipient is "entitled" to an item if whoever's in charge decides that the item should go to him or her without any bidding.  Have these items appraised, and ask the entitled recipients if they are willing to accept them at the appraised values.  If an item is declined at the appraised value, then it should be auctioned to the highest bidder. 

Hints:

Example:  In the Snider auction, Mary agrees to accept the heirloom piano for the appraised value of $500.  A small TV had been promised to Steve, and he agrees to accept it at the appraised value of $25.  More than one of the recipients is interested in the ceramic horse, so it will be auctioned even though it's an heirloom.   

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Copyright 2004  Lori Alden.  All rights reserved.