PropertyRoom.com is now allowing merchants to sell on its site. Previously the online-auction site had focused on law enforcement agencies that wanted to auction stolen or forfeited goods. Founder Tom Lane said the site has many categories, but are looking to improve the depth of consumer electronics, power tools, house-wares and jewelry categories.
There are no listing fees, and PropertyRoom charges a 12.5% winning bid fee with a minimum monthly fee of $250 in month 1, $500 in month 2 and $1,000 in month 3 and thereafter.
Lane said the online auction site has a large installed user base with a 99 percent sell-through rate (including relistings). The site was launched in 2001.
PropertyRoom requires sellers' names and contact information to be transparent to the bidder. The site conducts a credit check and background check on each seller. Lane said this helps them ensure the integrity of transactions on the site. They also reserve the right to reject a vendor for any reason.
According to the website, Property Room is a member of the International Association of Chief of Police, the National Sheriffs’ Association, and the International Association for Property and Evidence.
http://www.propertyroom.com
