An alarm system includes a detector positioned to detect when an object experiences an unauthorized removal and which produces an alarm signal when the object experiences an unauthorized removal. The alarm system includes a global positioning system (GPS) and a transmitter in communication with the detector which transmits wirelessly an alarm alert signal with coordinates of the transmitter's location when the transmitter receives the alarm signal. The alarm system includes a power supply control portion in communication with the transmitter which controls power to the transmitter. A method for protecting an object.