Sales of the largest bronze sculpture of Lenin in Ukraine have started. This was announced by the secretary of the Zaporozhye City Council Regina Kharchenko, reports UNN.
"The proceeds will be used for the needs of the Armed Forces of Ukraine. We are converting the mission of the former "Marxist theorist" into resources to help our defenders and defenders who are protecting us right now from followers of the Soviet regime," Kharchenko said.
In the lot description on the website Prozorro.Sales it says:
""The dismantled sculpture of V. I. Lenin, sculptures of high relief and letters according to chemical analysis are made of bronze. The weight of the sculpture of V. I. Lenin is 12310 kg, the total weight of the sculptures of the high relief is 7510.0 kg, large letters ("Lenin") are 24.36 kg, small letters ("Communism is the Soviet government plus electrification of the whole country") are 34.74 kg.
The lot is sold by the Municipal enterprise "Grandproekt".
Implementation will take place according to the procedure of a three-round English auction. The starting price is UAH 10,477,214.36.
how the English auction takes place
Even before the auction starts, participants submit their closed price offers. Potential buyers don't know if there are still competitors and don't see each other's bids. The electronic trading system ranks participants ' bets from the lowest to the highest, and the one who made the highest (closed) price offer has the right to make the last move in each of the rounds. This gives him the highest chance of winning. The auction starts when at least two bidders have registered for the auction. However, in certain areas, the lot can be purchased by a single registered participant at the price that they offered. During three rounds that last 3 minutes each, participants compete for a lotta and raise their bets. When the auction ends, all information about the participants is disclosed.