CFR > Title 41 - Public Contracts and Property Management > SUBTITLE C—Federal Property Management Regulations System > CHAPTER 102—FEDERAL MANAGEMENT REGULATION (parts 102 to 102-197) > SUBCHAPTER B—PERSONAL PROPERTY (parts 102-31 to 102-42) > PART 102-38—SALE OF PERSONAL PROPERTY > SUBPART B—Sales Process (§102-38.75 to §102-38.165) > 102-38.85—What is a sealed bid sale?

102-38.85—What is a sealed bid sale?

A sealed bid sale is a sale in which bid prices are kept confidential until bid opening. Bids are submitted either electronically or in writing according to formats specified by the selling agency, and all bids are held for public disclosure at a designated time and place.