Unclaimed Property Auction
Massachusetts State Treasurer Steve Grossman says hundreds of items of unclaimed property will be put up for bid on e-bay starting this weekend. Some selected items on the auction block will be on display Thursday in Springfield.
State Treasurer Steve Grossman says most of the items, which have gone unclaimed for at least nine years, have come from abandoned safe deposit boxes.
"Jewelry of all kinds...gold, silver,there's some very exciting necklaces and diamond pendants. There will be high-value currency, kruegerrands"
This is the seventh year the treasurer's office has auctioned off unclaimed property on E-Bay. Last year, more than 24-hundred items were sold, raising nearly 480-thousand dollars for the state's coffers. About a thousand items will be up for bid this year. But Grossman says despite their sale, people will still retain their rights to any unclaimed assets.
"If you can prove that a diamond necklace that was sold at auction because nobody claimed it, actually was given to your mother by her in-laws on the occasion of their wedding back in 1943, and you've got records to show it, insurance policies that details it or some other document, then we're obligated to reimburse you or your family for the value of what it was sold for"
Grossman says about 600,000 Massachusetts residents have unclaimed property ranging from jewelry to stocks. And he says anyone who thinks they may have some can go online to findmassmoney.com. Meanwhile certain auction items will be on public display from noon to five on Thursday at the State Office building in Springfield, and Friday at the State Lottery office in Worcester. The first 100 items will be posted on E-Bay beginning on Saturday with the remainder auctioned off over the next month.