Word: auction
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...page study, issued after an eight-month investigation, focuses on the April 28, 1982, auction of leases to 13 tracts in the prized Powder River Basin area. Interior officials say the sale, involving more than 21,000 acres" and 1.6 billion tons of coal, was the largest in the nation's history...
...fresh guidelines for the Powder River Basin auction, the committee report said, experts in the regional office of Interior's Minerals Management Service (MMS) in Casper, Wyo., spent 4,000 man-hours trying to determine the fair market "value" for each tract. But, feeling that the figures were not reliable, department officials in Washington rejected them. Barely one month before the sale, Interior came up with its own "entry level" bids, some of which were as much as half the MMS recommendation. The new prices, said an MMS official who worked on the original set of figures, "were...
...rare pink diamond set for auction last week in Sotheby's New York City gallery was, like the venerable institution, one of a kind. Appraisers at the 239-year-old auction house had estimated the value of the nearly flawless 9.58-carat gem at more than half a million dollars. But the day before the diamond was due to be auctioned, Sotheby's officials had a problem: the stone was missing...
...major theft is one of the worst disasters that can befall an auction house, since it tends to undermine the trust placed in the institution by the owners of the fine art and other collectibles that it sells. But the missing diamond is only one of several problems now besetting the London-based Sotheby's. Last year the company lost $4.6 million on revenues of $80 million, and now it is fighting a formidable takeover attempt...
...taxes and $250,000 to his agent; his extravagant personal life had produced skyrocketing bills for alimony and child support. He sold off parts of his Brooklyn Heights brownstone, gradually marooning himself on its spacious fourth floor. A house in Provincetown, Mass., was sold at an Internal Revenue Service auction. He interrupted his work on Ancient Evenings to write books for quick money. One paid an unexpected dividend: The Executioner's Song, his account of the life and death of Gary Gilmore, won the 1980 Pulitzer Prize for fiction...