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Item Description:

What is the GSA?

Nov. 3, 2021, 6:53 p.m.by AuctionWiser

The General Services Administration (GSA) is an organization that was formed by the Federal Property and Administration Services Act of 1949 (40 U.S.C. 751) to help the government manage federal equipment and property. Specifically, the "act was designed, in part, to increase the efficiency and economy of Federal government operations with regard to the procurement, utilization and disposal of property." The overall size of the GSA has grown significantly since its founding. As of October 2021, the GSA managed a real estate portfolio of nearly $370 million nationwide, and also oversees approximately $75 billion in annual contracts. One of the most popular functions is the sale of government assets to the public via online auctions.

GSA Auctions (Official Site) is a modernized version of the open auction that sells a variety of different property types (over 51+ categories!) to the general public. Officially stated, "GSA Auctions is the federal government’s online clearinghouse for surplus federally owned assets, ensuring maximum value for customer agencies and American taxpayers". There are 3 basic reasons why property ends up for auction on the GSA portal:

The property was seized by law enforcement

The property was seized by tax authorities (IRS) for failure to pay income taxes or violation of other tax law

The government agency is no longer in need of the property.

Although there are many online government auction sites, the GSA only sells property for the federal government. States may have their own property disposal process and operate online auctions elsewhere. Auctionwiser has no affiliation with the GSA entity.