MONEY-SAVING MOMENT: Police auctions of stolen property offer a great way to pick up a deal on merchandise that unfortunately can’t be returned to its rightful owner.
When law enforcement seizes stolen property from criminals, they typically put it up for auction via local sales on a particular day of the month or week. These kinds of auction sales are populated by expert auction buyers who know what they’re looking for and know how to get the best deals on what’s being offered. They make a career out of it or at least a part-time job.
But what if you’re just a regular person and don’t want to go to some obscure sale in a neighborhood that’s unfamiliar to you?
PropertyRoom.com is kind of like an eBay for stolen goods that are being disposed of by police departments and other groups. This site offers an opportunity to buy stuff at below normal cost.
Being an auction, you get to see the spectrum of bidders from amateurs to experts. That helps you get a sense of where price points should be over time.
I recommend that when you first check out the site, you hang back and just monitor the auctions. Wait until you have a better sense of what fair market value is for what’s being offered before bidding.
That gives you the knowledge to know when to bid and when to bail out because you’re about to pay too much dough!