SOURCE: PropertyRoom.com

December 01, 2005 09:14 ET

PropertyRoom.com Generates $1 Million in Monthly Merchant Sales in 3rd Month of Merchant Seller Program

MISSION VIEJO, CA -- (MARKET WIRE) -- December 1, 2005 -- PropertyRoom.com, the only full-service online auction site serving law enforcement agencies and consumers nationwide, today announced that it has achieved 3rd party sales of more than $1 million in the month of November, only three months after the launch of its merchant seller program.

"The positive response to our seller program has been phenomenal," said Tom Lane, founder and chairman of PropertyRoom.com. "Clearly merchants are seeking an alternative to eBay, and are choosing to sell their items through a site where bidders are buying from a company they trust -- PropertyRoom.com."

Prior to adding 3rd party merchants to the site, almost all of PropertyRoom.com's revenue was derived through online auctions of items received from the more than 540 police department clients that PropertyRoom.com contracts with nationwide.

"The unique merchandise that we receive from our law enforcement clients gives our customers a reason to come visit us each day and the superior service that they receive in a fraud-free shopping environment keeps them coming back," Lane said. "Because of this trust there are few auction sites who can match our level of bidding activity."

In its commitment to keep its site free from seller fraud, PropertyRoom.com requires sellers' names and contact information to be transparent to the bidder and the company conducts a credit check and background check on each seller. PropertyRoom.com also reserves the right to reject a vendor for any reason, ensuring the integrity of each transaction on the site.

Merchant sellers are able to leverage the relationship that PropertyRoom.com has built with its customers to reach an established and growing national audience, resulting in increased bidding activity and sell-through rates when compared to other auction sites.

"We considered listing at other sites like Yahoo! Auctions and Overstock Auctions, but the level of bidding that goes on at PropertyRoom.com is just far superior," said Michelle Cullen, vice president of Maps of the Past, a seller of historical map reproductions. "We are thrilled with the results and look forward to a continuing partnership with PropertyRoom.com."

PropertyRoom.com has a waiting list of potential merchant sellers, but the company's commitment to its customers requires due diligence when adding merchants, Lane said. As a result, joining the site as a seller can take time but the company believes the benefits are clear.

"The growth of our merchant seller program and the extremely positive feedback from our clients and customers speaks for itself," Lane said. "With our new seller program and the tremendous growth in our core police business, we look forward to an exciting 2006."

About PropertyRoom.com

PropertyRoom.com is the only web-based, full-service auction provider serving the law enforcement community in the United States. Using a nationwide logistics, warehousing and on-line auction system, PropertyRoom.com vastly increases the net realization to its clients by increasing the bidding audience to millions, rather than hundreds, and by substantially reducing the costs and headaches of dealing with unclaimed, forfeited and excess property. For information, please visit www.PropertyRoom.com.

Contact Information