Online Lost and Found Listings at The Found Bin: Practical?

Everyone loses things. Sometimes its just a pen and sometimes it's a laptop or a diamond ring. But imagine, if a few clicks could get you that item right back, for free. That's the aim of The Found Bin, the internet's largest lost and found directory.
After you sign up, The Found Bin enables you to search among thousands of listings of lost or found items and animals. You can search the directory by specifying the make, manufacturer, color, serial number and even location.
Or if you can't find it when you look at first, you can post the details about your item to increase the chances of re-uniting with it.
But is this idea really practical? I mean, what are the chances that the person who found your item happens to be part of the handful of users that The Found Bin has. And in addition, look yourselves in the mirror (that's right, I'm Canadian) and ask yourselves, is America really nice enough to return your item, especially if it's of value. Plus, does anyone want to spend time broadcasting what they've found for someone (who might just be fake) to claim? Not likely.
But this definitely earns an honorable mention for a good idea. Maybe one day, the world will become a peaceful, collaborative place where everyone will join a huge community of losing and finding and returning items. Maybe one day. But for now, an online lost an found may not work as well as planned.