shawn peters? >> good morning. >> welcomed. >> my name is shawn peters. i'm with the office of contracted ministration here to present to you our request to enter into a term contract for auctioning services. we have background and overview, i will present this for you. the purpose here is to provide auctioning services as well as city vehicles and sfmta buses, pursuant to section 9.118 of the san francisco charter, o.c.a. is seeking board approval to award a contract for international two year term with options to extend for an additional three years. our anticipated revenue for the first two years of this contract is about $1.3 million. in october, between october 2015 and august 2019, the total number of items auctioned is 1,855 items. total revenue is $2 million -- $215 million, approximately 652 -- approximate six and $52,000 annually. we issued a substation -- we had two respondents, bar none and first capital. our evaluation was to determine a low bidder. the bid price is based on a proposal that reflects the lowest cost of the city for disposal of