Going once, going twice: Unclaimed property auction announced
Minnesota Department of Commerce announced Friday, Nov. 9, 2018, the state will hold a second online auction of unclaimed property from abandoned safe deposit boxes. The auction will include more than 400 items such as jewelry, coins and collectibles.
A Randy Moss sports card will be up for bid, the commerce department says.
The auction will go live 8 a.m. Monday, Nov. 12 and continue through 6 p.m. Tuesday, Nov. 27. It will be managed by Glencoe-based Fahey Sales.
The auction site is at: https://www.proxibid.com/asp/Catalog.asp?aid=152596
“Just in time for the holiday shopping season, bidders can shop in the comfort of their own home,” said Commerce Commissioner Jessica Looman in a news release. “The online auction is an efficient method to reach a much larger audience of potential bidders and secure the highest market price for these items. This is important because the sale proceeds are held in trust to be claimed by the original property owners or their rightful heirs.”
An unclaimed property auction was held in late-July and early-August that collected more than $54,000 from bidders across 40 states, Bermuda, Canada and Switzerland, according to a news release.
Minnesota law requires safe deposit boxes be turned over to the state's Unclaimed Property Program after five years of no activity and nonpayment of rent. The program holds onto property for at least three more years before they can be auctioned off. The law requires an auction at least every decade.