The District of Columbia has begun auctioning the surplus property online. The first auction, conducted on the 21st of April generated $39, 221 for the district according to Janis Bolt, public information officer for the city's Office of Contracting and Procurement. In 2004 fiscal year, live auctions generated a total of $47,000 in revenues for the city.

The district awarded the contract for the management of the inventory, appraisal, sale and shipping of the city's surplus property to Liquidity Services Inc. LSI conducts auctions of city assets such as vehicles, police automobile accessories, computer equipment, radios and other communications equipment, office furniture and other supplies through its online marketplace. The auctions are expected to improve data tracking and financial oversight of the city's surplus asset disposition activities.

"The cash flow from the sale of the district's surplus assets will be deposited directly back into the treasury and re-allocated to departments and programs within the government," Mayor Anthony A. Williams. "The additional revenue will enable us to more effectively address and meet the expectations of taxpayers," he said.

LSI will market the district's auctions to district agencies, the company's existing base of 220,000 qualified buyers, and other potential buyers of surplus property.

The company will also handle all operational and administrative tasks including inventory reconciliation, creation and launch of auctions, buyer assistance, shipping and logistics, payment collection, and refurbishment and/or recycling of items when appropriate.

"The overall goal of our asset remarketing activities is to provide a solution that maximizes the recovery value of usable surplus property for the District of Columbia," said Bill Angrick, CEO of LSI.