SAMPLE BID SHEET Item number - # 101 Item Description: Minimum Bid: $800 Fair Market Value Estimate: $1,000 Expanded description of item Restrictions: list any Bid Number Bid Number $ 800 To our Bidders - we appreciate your support of UC San Diego’s (dept name). All proceeds from the sale of items in our auction benefit (dept. or purpose). It is important we follow IRS guidelines. Therefore we want to ensure you are aware that the amount of your purchase price that exceeds the stated Fair Market Value of the item is a tax deductible gift. Any amount paid up to the FMV is considered an equal exchange and therefore is not a tax-deductible gift. Your receipt will indicate each of these amounts.