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Auction Website Offers Legal Deals On Stolen Goods

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Auction Website Offers Legal Deals On Stolen Goods

(CBS) Here's a tip to save money this holiday season...buy stolen property.

Some people are turning to giving hot gifts, as in stolen property from the cops. But not to worry, it's perfectly legal.

It's a bonanza of fenced goods on PropertyRoom.com. It's an online auction site where you can buy fenced goods without someone calling 911 on you.

PropertyRoom.com was started by a former police detective in Long Island, New York. The site auctions off items seized by more than 1,500 police departments across the country after their hold period ends, which is usually 90 days.

Have you ever wondered where stolen bikes wind up if they're not recovered by their rightful owner? You can buy high-end BMX racing bikes, mountain bikes and more.

Or how about jewelry? You can by diamond rings, watches, pearl necklaces and more bling bling. Even designer sunglasses, and don't forget designer handbags, too. And penny pinchers, check out the coin collections! Some of it dates back centuries.

For the art lover in your family, try a hand-painted Van Gogh oil reproduction on for size. If you're looking for a laptop, you'll find a plethora of computers and computer equipment.

You also might find a hot car stereo, all available to the highest bidder.

(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)

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