. Competition for Federal timber in the Pacific Northwest : an analysis of Forest Service and Bureau of Land Management timber sales. Timber Northwest, Pacific; Forests and forestry Economic aspects Northwest, Pacific; Lumber trade Northwest, Pacific. 8 _ < DC LU / FOREST SERVICE. BUREAU OF LAND MANAGEMENT BID-APPRAISAL RATIO 2 00 Figure 4.—Average number of bidders per sale by bid-appraisal ratio classes. Forest Service (1959-62) and Bureau of Land Management (1951-62) oral-auction sales only, east side (see tables 18, p. 48/ and 28, p. 58). Sale Size and Road Cons
. Competition for Federal timber in the Pacific Northwest : an analysis of Forest Service and Bureau of Land Management timber sales. Timber Northwest, Pacific; Forests and forestry Economic aspects Northwest, Pacific; Lumber trade Northwest, Pacific. 8 _ < DC LU / FOREST SERVICE. BUREAU OF LAND MANAGEMENT BID-APPRAISAL RATIO 2 00 Figure 4.—Average number of bidders per sale by bid-appraisal ratio classes. Forest Service (1959-62) and Bureau of Land Management (1951-62) oral-auction sales only, east side (see tables 18, p. 48/ and 28, p. 58). Sale Size and Road Construction Cost West Side FOREST SERVICE Forest Service sales were smaller on the average than the other two groupings. Mean volume per sale for the one-bidder group amounted to 2,852,000 board feet, compared with 5,746,000 board feet for the token-bid group and 5,206,000 board feet for all competitive sales. Differences also existed in the percent of sales requiring road construction and the average road construction cost for those sales requiring construction. Only percent of the one-bidder sales required road construction compared to percent for the token-bid group, and percent for the competitive sales. Sales characterized by token bidding had a high average volume per sale, a high proportion of such sales required road construction, and the average road construction cost per sale was highest of the three sales classes. On the other hand, the one-bidder class had the lowest volume per sale, the least pro- portion of sales requiring road construction, and the lowest average road construction cost when road construction was required. There appears to be a positive relation be- tween the average bid-appraisal ratio and volume size classes (fig. 5). The lowest premiums shown are for the smallest size class, sales of less than 1 million board feet. The average premium in- creases steadily to a relatively large class, 10 to million board feet
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