It's no secret that the Golden State is facing a giant budget deficit, and Governor Schwarzenegger's 'Great California Garage Sale' is an attempt to liquidate some assets for cash.
The Great California Garage Sale is taking place in person on August 28 and 29th at the Department of General Services’ Surplus Property Warehouse in Natomas, California; there are also currently items up for sale on Craigslist and eBay.
In addition to autographed state vehicles, there are also other miscellaneous items deemed state property, from cell phones to computers, Kings memorabilia, and surfboards for sale at the Great California Garage Sale.
State-Run Liquidation Sales
The 'Great California Garage Sale' to Raise Cash for the Golden State
Trend Themes
1. State-run Asset Sales - Governments struggling with budget deficits are turning to selling state-owned assets as a way to generate revenue.
2. Online Government Auctions - Government agencies are utilizing online platforms such as Craigslist and eBay to liquidate assets and generate cash flow.
3. Novelty Government Memorabilia Sales - Government agencies are selling unique and interesting items, such as autographed state vehicles, as a way to generate interest and revenue.
Industry Implications
1. E-commerce - Online platforms such as Craigslist and eBay are being utilized by government agencies as new sales channels.
2. Asset Management - Governments and public entities are looking to specialists in asset management to help identify tangible assets that can be sold to generate cash flow.
3. Memorabilia and Collectibles - Consumers are increasingly looking to purchase unique and limited edition items of historical or cultural significance, opening new sales channels for government memorabilia and collectibles.