ASTM E2858-12(2020)

This international standard was developed in accordance with internationally recognized principles on standardization established in the Decision on Principles for the
Development of International Standards, Guides and Recommendations issued by the World Trade Organization Technical Barriers to Trade (TBT) Committee.
Designation: E2858 − 12 (Reapproved 2020)
Standard Practice for
Sales of Personal Property
This standard is issued under the fixed designation E2858; the number immediately following the designation indicates the year of
original adoption or, in the case of revision, the year of last revision. A number in parentheses indicates the year of last reapproval. A
superscript epsilon (´) indicates an editorial change since the last revision or reapproval.
1. Scope 3.1.1 lotting, lotted, v—to consolidate or distribute assets
being sold into identifiable groupings, to be sold for one price,
1.1 This practice encompasses how assets may be sold.
to provide the best number of items or the best mix of different
1.2 Sales of assets may be done when assets used by the
items with the intent to increase prospective bidder interest.
entity are no longer required, or to sell assets acquired for the
3.1.2 terms and conditions, n—basis on which the sale,
purpose of sale or re-sale. The objectives of a sale will vary by
award, and transfer of the assets are to be conducted.
entity; for instance, the goal may be to facilitate the replace-
ment of assets, to obtain needed funds from sales proceeds, or
4. Summary of Practice
simply to remove assets from the entity’s control and manage-
4.1 Entities sell assets for multiple purposes, often simply to
ment.
dispose of assets no longer required by the owning entity
1.3 This practice does not include sales requirements or
(“surplus” assets).
restrictions specific to any regulatory body or the various levels
4.2 Entities should implement asset management systems to
of government in which an entity operates. However, this
optimize performance in accordance with Practice E2675, such
practice provides the entity options for flexibility to best
that sales decisions are supported by current and accurate
integrate those external requirements.
information.
1.4 This standard does not purport to address all of the
4.3 Sales should be conducted to maximize the benefit to the
safety concerns, if any, associated with its use. It is the
entity, while minimizing risks subsequent to the sale.
responsibility of the user of this standard to establish appro-
priate safety, health, and environmental practices and deter-
5. Significance and Use
mine the applicability of regulatory limitations prior to use.
5.1 This practice identifies cost-effective sales as a business
1.5 This international standard was developed in accor-
process of the entity. The central objective is to ensure that
dance with internationally recognized principles on standard-
assets are sold in a manner best suited to meet the goals of the
ization established in the Decision on Principles for the
entity.
Development of International Standards, Guides and Recom-
5.2 This practice provides options and considerations to
mendations issued by the World Trade Organization Technical
take into account to effectively manage the entity’s assets when
Barriers to Trade (TBT) Committee.
considering asset sales.
2. Referenced Documents
6. Decision Process
2.1 ASTM Standards:
6.1 Entities may consider selling assets to:
E2135 Terminology for Property and Asset Management
6.1.1 Obtain funds needed to offset the cost of acquiring
E2675 Practice for Asset Management System Outcomes
replacement assets better suited to meeting the entity’s
3. Terminology
requirement,
6.1.2 Obtain operating funds, or
3.1 Definitions—For additional definitions for property and
6.1.3 Eliminate operational costs associated with overall
asset management, see Terminology E2135.
management of the asset, that is, taxes and costs of custodial
oversight.
This practice is under the jurisdiction of ASTM Committee E53 on Asset
6.1.4 Facilitate the continued use of surplus assets which
Management and is the direct responsibility of Subcommittee E53.04 on Reutiliza-
tion and Disposal.
avoids the assets entering the waste stream or the costs of
Current edition approved July 1, 2020. Published July 2020. Originally approved
remediation.
in 2012. Last previous edition approved in 2012 as E2858 – 12. DOI: 10.1520/
E2858-12R20.
6.2 The sales method selected should take into account the
For referenced ASTM standards, visit the ASTM website, www.astm.org, or
reason for the sale and should consider the expected or required
contact ASTM Customer Service at service@astm.org. For Annual Book of ASTM
proceeds and the time frame in which the sale is to be
Standards volume information, refer to the standard’s Document Summary page on
the ASTM website. conducted.
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E2858 − 12 (2020)
6.3 An entity should evaluate expected sales costs and most appropriate media. Advertising the sale through trade
anticipated proceeds and consider other methods of disposal if journals, mass media, or to special interest groups should be
the net costs of sale are greater than the net costs of other considered.
disposal methods.
7.7 When third party sales are conducted, approval to sell
must be obtained from the owning entity.
7. Pre-Sale Activities
7.1 Asset records should be reviewed to ensure validity and
8. Sale of Assets
accuracy to guide the selection of the sales method and the
8.1 Asset sales may be conducted by the owning entity or a
processes. Considerations should include the following:
qualified third party seller selected by the owning entity.
7.1.1 A clear indication that the asset is not needed within
the entity. 8.2 Resources required at the sale may include storage
facilities, inspection facilities, cashiers, signage, customer
7.1.2 Eligibility for sale based on evaluation of the follow-
ing concerns and the ability to economically address identified service personnel, security
...