Protest re Rejection for Price of Bid for Surplus Ship

A company protested the rejection of its bid on a surplus ship and alleged that agency improperly determined that its bid was too low. The value of the ship in question was determined by considering East Coast and European scrap market prices. Agency has broad statutory authority to determine minimum acceptable price. Record does not indicate that determination was arbitrary or unreasonable, and neither statute nor legislative history compels conclusion that agency must appraise vessel prior to sale. The protest was denied.