What a steal: A Web site sells stolen items

PropertyRoom.com sells lost, stolen or forfeited goods from police departments.

By Brandi Stewart, FSB Magazine

(FSB Magazine) -- Last year PropertyRoom.com, an auction Web site that sells lost, stolen or forfeited goods from police departments, opened its doors to third-party vendors.

Revenues jumped 33 percent, to $8 million, and are projected to hit $10 million to $12 million in 2006.

BIG_lane_tom_propertyroomcom.03.jpg
Tom Lane: Co-founder and CEO, Propertyroom.com

NO DOT-CONS: PropertyRoom.com has signed up more than 750 departments since it was launched in 1999, and its 70 employees ensure each product's authenticity and condition.

By extending that vigilance to third-party vendors - conducting background checks on all merchants, including jewelers and electronics sellers - the company hopes to allay the concerns of e-shoppers. "We're after a fraud-free environment on the Internet," Lane says.

A NEW BEAT: Today about 50 percent of the site's gross sales come from its third-party vendor program. And the firm is developing new partnerships: selling surplus goods from government bureaus and unwanted props from movie sets.

Would you buy used items from a site like PropertyRoom.com? Share your experiences at fsb_mail@timeinc.com.

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Gallery: See surprising items for sale Top of page

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.