Unusual Businesses Ideas That Work:
Last year PropertyRoom.com, an auction Web site that sells lost, stolen or forfeited goods from police departments, opened its doors to 3rd-party vendors.
Revenues jumped 33%, to $8 million, and are projected to hit $10 million to $12 million in 2006.
PropertyRoom.com has signed up more than 750 departments since it was launched in 1999, and its 70 employees ensure each product’s authenticity and condition.
By extending that vigilance to third-party vendors - conducting background checks on all merchants, including jewelers and electronics sellers - the company hopes to allay the concerns of e-shoppers. ‘We’re after a fraud-free environment on the Internet,’ Lane says.
Today about 50% of the site’s gross sales come from its 3rd-party vendor program. And the firm is developing new partnerships: selling surplus goods from government bureaus and unwanted props from movie sets.
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