Buy stolen goods on a regular basis is now a part of life for some wholesalers, retailers and some other savvy consumers. All this was made possible because of the online auction site PropertyRoom.com, which was founded in 1999 by former police detective Tom Lane.
This site sells loss or theft of goods that the police were unable to return to their owners. The total value of articles came to 34 million dollars in 2008 – and nearly 40% of the amount came only watches and jewelry.
The Chief Executive Officer PJ Bellomo said: "We were fly under the radar for years and only started increasing significantly over the past two or three. We're the McDonald's outlets jewelry and McDonald's is booming in the current economy, then perhaps not surprising that 2008 was the best year in our history. "
There are a few municipalities across the country who use online auctions to serve the wholesale market by selling heavy equipment they no longer need. They try to sell items such as backhoes, bulldozers, etc. but the main activity of the site property Room.com is through profit sharing partnerships with law enforcement agencies. These organizations help to monetize the lost and stolen property by holding auctions in the parking lot which is reflected by the low turnout and win offers very low prices.
Bellomo said that auctions managed by the agencies would bring only 25 per cent of wholesale minus listing fees and pay the auctioneer. He also said: "Those who are truly remarkable in these [type] of auctions, are the pawnbrokers and jewelers warned. "
Property is Room.com established with the intention to entertain both the wholesale and retail customers. The first can count on him to bid for an item up about little and retail customers then buy the piece at a wholesale price but at a higher retail prices low.
"We deter the reserve price, because we get better prices without reservation, "Bellomo said." Our customers may insist on a reservation, but they are perhaps once in 3000 auctions. "
Property Room.com 's advertising budget is tiny, Bellomo said. However, the site is indexed by major search engines and it is well publicized by the mainstream media. For the latest availability of certain types of merchandise products customers can register and they will be informed once the items are available.
To keep some security measures up properties Room.com has no bricks and mortar store and do not know the location of its stores. Pickup is allowed for physical cost if expensive to send parcels, but not for jewelry.
The company also has a graduate gemologist in his team, which evaluates and assesses Parts of a probable resale value of $ 500 or more and issued a report ranking higher end gemstones. Top-brand watches are sent to the experts for identity verification, and the company destroyed all the objects and documents all false. If a piece turns out to be false and not as advertised the buyer can return it for a refund.
Bellomo said: "It is perhaps eight times that someone has requested an item that has been lost or stolen, and if the facts bear on the claim, the part is returned free.
Traffic Room.com property increased 30 percent over 2008, averaging 30,000 impressions daily, including from 22,000 to 25,000 visitors unique estimates Bellomo. Alo The company employs approximately 70 people nationwide, including truck drivers with regular monthly draws. About 1,400 law enforcement in 47 states have signed with the property Room.com far. "It's out of maybe 9000 organizations that would be great enough to do business with us. So far, we do well, but we celebrate yet, "said Bellomo.
The Author is an expert in Jewelry Industry and runs a famous site on Jewelry
