Liquidity Services introduces a list of recommendations to accelerate DOGE's mission to create greater government efficiency and cost savings.
BETHESDA, Md., Jan. 21, 2025 /PRNewswire/ -- Liquidity Services (NASDAQ: LQDT), operates the world's largest marketplace for surplus assets to benefit buyers, sellers and the planet. Working with thousands of government agencies at the Federal, state and local levels over the past 25 years, we have leveraged our expertise to deliver over $10 billion of proceeds to its agency clients from selling surplus, idle and underutilized assets in hundreds of categories, including vehicles, equipment and real estate. As we enter the New Year, we offer the new Trump administration the following five ideas to support the Department of Governmental Efficiency's (DOGE) quest to drive big improvements in efficiency and cost savings for the U.S. taxpayer.
1. Free Up Billions Trapped in Underutilized Real Estate
Today there exists significant untapped value with Federally owned HUD assets, office buildings, and land parcels that could be quickly moved off the balance sheet of the Federal government to not only generate cash but to reduce operating and maintenance costs. We recommend utilizing online auctions to monetize these surplus, idle and under-utilized Federal real estate assets through transparent, competitive private sector bidding to maximize value.
2. Empower Agencies to Implement Better Asset Management
We recommend allowing Federal agencies to act independently and make their own decisions regarding the redistribution or sale of unused and surplus assets, which can be expensive to insure, store and maintain. From military gear to office supplies, these assets are sold through online auctions every day in the private sector, but some Federal government agencies are forced to use less effective methods. By granting individual Federal agencies the freedom to make quick sale decisions and take cost-saving actions, they can realize fair market value for assets they no longer need. This leads to better efficiency, lower costs, and smarter use of resources.
3. Leverage Commercial Solutions for Asset Disposal
We recommend authorizing Federal agencies to use existing commercial solutions to handle their excess assets, which can be more efficient and cost-effective than a centralized government-run system. Private sector online auction marketplaces have aggregated millions of qualified bidders with billions of dollars of successfully completed sales for the same commodities owned by the Federal government. These solutions offer the Federal government immediate access to a larger buyer base with no upfront fees, staffing or infrastructure support costs to accomplish the goal of delivering savings to the U.S. taxpayer.
4. Liquidate Specialty Items No Longer Deemed Strategic
We recommend utilizing the full breadth of online platforms to allow the Federal Government to monetize unique specialty items, such as coins, signs, statues, mementoes and artifacts that are no longer viewed as strategic. Based on its experience, private sector marketplaces can assist the Federal Government in identifying, valuing and selling such items to audiences of enthusiasts and collectors, providing significant financial gains for the Federal government.
5. Match Open Requisitions with Available Surplus Items
We recommend the Federal Government utilize commercially available software tools, such as AssetZone, to enable it to reallocate existing surplus assets in its supply chain to meet a need of another agency's open requisition in the Federal Government. By efficiently allowing the Federal Government to match assets that are surplus in one agency and needed by another agency, we can reduce waste, save costs and reward those meeting sustainability goals in the Federal government.
"We firmly agree with the DOGE agenda to cut government waste, fraud, and abuse," says Bill Angrick, Chairman, CEO and Co-Founder at Liquidity Services. "As a champion for efficient usage of resources for more than 25 years, Liquidity Services can offer unique insights on realizing this potential savings. We are happy to offer our assistance in whatever way is useful to the new administration."
By thinking outside the box with asset recovery, giving agencies more freedom, and using commercial technology enabled solutions, Liquidity Services believes DOGE can help upgrade government operations, unlock cost savings, and drive sustainability.
For more information on Liquidity Services' vision for DOGE and government asset management, visit https://liquidityservices.com/.
About Liquidity Services
Liquidity Services (NASDAQ: LQDT) operates the world's largest B2B e-commerce marketplace platform for surplus assets with over $10 billion in completed transactions to more than five million qualified buyers and 15,000 corporate and government sellers worldwide. The company supports its clients' sustainability efforts by helping them extend the life of assets, prevent unnecessary waste and carbon emissions, and reduce the number of products headed to landfills.
Contact:
Liquidity Services, Inc.
Investor Relations
investorrelations@liquidityservicesinc.com
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SOURCE Liquidity Services
