March 12, 2011 Captures Major Media Attention

Property Room, the site that specializes in the auction of stolen, seized, found and surplus goods and vehicles, has captured major media attention in recent months. The site’s vast inventory of items – sold at bargain prices – has been featured by Nightline, Inside Edition, MSNBC, Fox News, Consumer Reports, USA Today and the Wall Street Journal.
As Founder Tom Lane explained to Inside Edition, “In these hard times people are looking for deals.” As an example of what consumers might save on the site, Lane said that “$70,000 worth of jewelry might go for around $30,000 on”
The Today Show featured the site in its “Today’s Consumer” segment and described the Property Room warehouse as a “treasure trove. You name it, they’ve got it. You can get just about anything here.”
Property Room provides an alternative to typical police auctions, held when departments clean out evidence rooms. As Consumer Reports explains to consumers: “Though the rules vary by state, police agencies will generally retain seized or forfeited property for 90 to 120 days before selling it off. The old-fashioned way was to auction the goods off in a parking lot, an exercise that tended to draw the same buyers over and over … PropertyRoom opens the process to a much broader audience, obviously, and generates more revenue for local governments.”
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