[§200-45] When public auction not required. Public auction shall not be required when the appraised value of any vessel is less than $250, as determined by an independent appraiser who has at least one year of experience in the sale or purchase of vessels. Upon that determination the chairperson may sell the vessel by negotiation, dispose of it as junk, or donate the vessel to any governmental agency. [L 1991, c 272, pt of §2]