California-based PropertyRoom.com was founded in 1999 by retired police officer Thomas Lane. Before that most police agencies held their own public auction to sell items obtained in criminal investigations. The company deals with more than 1,200 law enforcement agencies.

The items that PropertyRoom receives are taken to processing centers in New York, Orlando, Fla., and Los Angles where they are cleaned, catalogued, photographed put for sale online.

Police agencies and PropertyRoom divide the proceeds 50-50 for each item that sells for up to $1,000. When items sell for more than $1,000, they split the first $1,000. The police receive 75 percent of the proceeds after that.

The company also runs a "Steal-It-Back" registry where people who have had items stolen can enter information so if the property turns up in one of the company’s warehouses, it can returned to the owner.

PropertyRoom.com works like eBay. Items are put up for auction for a set number of days and people can place bids on what they want to buy. The company says it pulls in 1.5 million to 2.5 million visitors a month.

The most popular items on the site are jewelry, bicycles and electronics. The company does not sell guns, ammunition or drug paraphernalia.