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It’s Legit: Stolen Property For Sale

Move over eBay. A new site offers up an assortment of goods at a fraction of the cost — but there's a slight catch.

Stolen property is now for sale, and it’s a legitimate thing. Propertyroom.com is the go to place to get your hands on some stolen goods.

Depending on the day, Propertyroom.com might just have what you’re looking for. An authentic Rolex watch is there at 80 percent off retail price. The only catch to this site is that you have to beat out 30,000 other shoppers bidding on the same item.

Based in Frederick, Md., Property Room offers goods in an auction setting, similar to eBay but the difference is that these are stolen goods. The site’s owners work with more than 3,000 police departments, municipal governments and other public entities around the country to sell items seized in drug busts, unclaimed stolen goods and other items languishing in lost-and-founds. The site also offers surplus vehicles, bikes and other castoffs from law enforcement and municipal agencies.

“We get interesting items, everyday treasures and treasures every day,” said PJ Bellomo, Property Room’s CEO and the company’s self-described “chief of steals.”

Property Room started in 1999 to simplify the time-consuming and often money-wasting process of unloading goods through police auctions. The site, which has 1.5 million registered users, has grown to encompass thousands of agencies across 48 states, including the New York City and Los Angeles police departments.

Successful bidders aren’t the only winners. Since its inception, Property Room has given more than $50 million back to local communities. A portion of the money generated from the sales is given back to the cities that use the service for auctions.

They’re not fakes. Property Room works with licensed jewelers, gemologists and other experts in rare collectibles to confirm the legitimacy of each item, and makes a certificate of authenticity accessible to viewers online. All counterfeits are destroyed.

Buying stolen property is now a very legitimate thing to do. “We make it very clear to make people feel confident we’re the real deal,” Bellomo said. Looks like Ebay may have some competition.

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