The Federal Surplus Personal Property Sales Program offers items that the federal government no longer needs and exchange/sale property for sale to the general public by competitive means. Exchange/sale property is identified by FMR 102-39 as being eligible for replacement. Generally, this property is subject to specific restrictions and limitations. Exchange allowances and sales allowances and sales proceeds are applied toward a one-for-one replacement of like or similar items. The basic authority for this program is the Federal Property and Administrative Services Act of 1949, as amended.
GSA's objectives are to conduct sales in an efficient, expeditious manner and obtain maximum net returns with a minimum of inconvenience to holding agencies. GSA sells surplus and exchange/sale property for the civilian federal agencies while the Department of Defense sells for the military services.