PropertyRoom.com is an online police auction website that features items such as jewelry, cars, watches, coins and art. More than 3,000 police departments submit items to this site from all over the country.
Using PropertyRoom.com is free, and after registering, members have access to five different types of auctions. The first type, a traditional online auction, is familiar to most people who use these sites. There is also a reserve auction. With this type of auction, the item is not sold until bidding meets a certain price. Though there is no mention of a reserve price on the listing, if bids do not reach the reserve price, the item does not sell.
Fixed price auctions are also available at PropertyRoom.com. These auctions allow buyers to purchase an item immediately without waiting for the auction to end. In some cases, there are several identical items for sale at the same time.
Mega auctions are another type of auction found on PropertyRoom.com. With these auctions, there are multiple items that a bidder must specify a quantity and bid, which means there may be a number of winners. A bid-to-be-approved auction is also on this site, and the format is similar to a reserve price auction. In this example, however, if the reserve is not met, the seller may want to accept the top bid, even if the reserve is not met.