Designation:E2858−12StandardPracticeforSalesofPersonalProperty1ThisstandardisissuedunderthefixeddesignationE2858;thenumberimmediatelyfollowingthedesignationindicatestheyearoforiginaladoptionor,inthecaseofrevision,theyearoflastrevision.Anumberinparenthesesindicatestheyearoflastreapproval.Asuperscriptepsilon(´)indicatesaneditorialchangesincethelastrevisionorreapproval.1.Scope1.1Thispracticeencompasseshowassetsmaybesold.1.2Salesofassetsmaybedonewhenassetsusedbytheentityarenolongerrequired,ortosellassetsacquiredforthepurposeofsaleorre-sale.Theobjectivesofasalewillvarybyentity;forinstance,thegoalmaybetofacilitatethereplace-mentofassets,toobtainneededfundsfromsalesproceeds,orsimplytoremoveassetsfromtheentity’scontrolandmanage-ment.1.3Thispracticedoesnotincludesalesrequirementsorrestrictionsspecifictoanyregulatorybodyorthevariouslevelsofgovernmentinwhichanentityoperates.However,thispracticeprovidestheentityoptionsforflexibilitytobestintegratethoseexternalrequirements.1.4Thisstandarddoesnotpurporttoaddressallofthesafetyconcerns,ifany,associatedwithitsuse.Itistheresponsibilityoftheuserofthisstandardtoestablishappro-priatesafetyandhealthpracticesanddeterminetheapplicabil-ityofregulatorylimitationspriortouse.2.ReferencedDocuments2.1ASTMStandards:2E2135TerminologyforPropertyandAssetManagementE2675PracticeforPropertyManagementSystemOutcomes3.Terminology3.1Definitions—Foradditionaldefinitionsforpropertyandassetmanagement,seeTerminologyE2135.3.1.1lotting,lotted,v—toconsolidateordistributeassetsbeingsoldintoidentifiablegroupings,tobesoldforoneprice,toprovidethebestnumberofitemsorthebestmixofdifferentitemswiththeintenttoincreaseprospectivebidderinterest.3.1.2termsandconditions,n—basisonwhichthesale,award,andtransferoftheassetsaretobeconducted.4.SummaryofPractice4.1Entitiessellassetsformultiplepurposes,oftensimplytodisposeofassetsnolongerrequiredbytheowningentity(“surplus”assets).4.2EntitiesshouldimplementassetmanagementsystemstooptimizeperformanceinaccordancewithPracticeE...
