Sales of Unclaimed Property on eBay Double in 2011

Sales of Unclaimed Property on eBay Double in 2011

The monthly auction from the Treasurer’s Office breaks sales record

 

(MADISON)              State Treasurer Kurt Schuller announced today that sales from his monthly eBay Auction of unclaimed property brought in $220,640.07 in 2011. The auction in 2010 brought $110,409.43 into the unclaimed property account.

 

“The price of gold definitely helped push sales up higher this year,” Treasurer Schuller said. “But, we also expanded the auction to include more items and did a lot more in terms of promoting it to new customers via social media.”

 

The items sold come from abandoned safe deposit boxes that banks turn over to the State Treasury after owners fail to pay rent for 5 years. The State Treasurer’s office holds onto the contents for at least 3 more years before getting items appraised and selling them on eBay. The money made in the auction returns to the unclaimed property account in the name of the owners and that cash can then be claimed by the owner or rightful heir.

 

If you would like to be part of a mailing list to get notified of the auction several days before it begins, please visit www.wismissingmoney.com and click on the “eBay” logo on our home page. You will also find information about the auction as well as a link to our eBay page. You can also get updates on items being sold by “LIKING” us on Facebook at www.facebook.com/WIUnclaimedProperty as well as following us on Twitter at www.twitter.com/wistatetreasury.