Abstract
Private timber sale transactions are vital to the forest products industry in the US South. Consulting foresters often assist private landowners in administering timber sales, and their decisions and practices have a major impact on landowner compensation, satisfaction, and market efficiency. This study used a mixed-mode survey of consulting foresters in 11 southern states to examine contract terms, timber sale practices, and market conditions on private sales. Responses were received from 430 consultants, resulting in a 37 percent response rate. Final harvests are primarily offered to bidders, whereas thinnings are more likely to have timber prices negotiated. Pay-as-cut payment terms are typical for thinnings, but less common in the Mountains where lump sum is relatively more common. Well under 50 percent of firms from the Coastal Plain and Piedmont conduct presale inventories on thinnings, whereas nearly two-thirds of firms in the Mountains use inventories on these types of harvests. Fewer than 25 percent of responding foresters suggested that restrictive quotas reduced landowner revenue on pay-as-cut timber sales. Consulting firms reporting that sawtimber quotas were never a problem in their area reported at least two more sawtimber outlets than those concerned about restrictive mill quotas.