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AR15.COM
5/2/2007 1:01:04 PM EDT
A Texas gun collector beat out nearly 100 people who bid for an automatic weapon, courtesy of the Lapeer County Sheriff’s Office.

The man, whose name police won’t disclose, bid $18,000 for the M16, which dates back to the mid-1970s and is capable of firing about 700 rounds a minute.

5/2/2007 1:06:58 PM EDT
[#1]
did anyone ask the sherrifs office why their estimated value and expected final bid was more than $16,000.00 short of the actual final bid?    
5/2/2007 1:08:51 PM EDT
[#2]

Quoted:
did anyone ask the sherrifs office why their estimated value and expected final bid was more than $16,000.00 short of the actual final bid?    
That was probably the price quote they got from the local NFA dealer when they started looking into selling it.