What Tomas said.
Also, to me it would be great fun to watch this happen at CPF and be able to congratulate the new owner as well as razz them a little. I suppose it would be fine to have a lottery. That would probably be the only way I would have a chance at it. However, it might be fun to watch an auction. I like estimating.
What ever method you use, if it is a CPF thing, you might consider predicting what questions may arise and stating the rules precisely and ahead of time. In doing this, I think the event will be more likely to be fun.
However it works out the S123LSL is a darling.