Massachusetts to auction gold, wristwatches, jewelry on eBay
High-end wristwatches, jewelry, gold and other items left in
abandoned safe deposit boxes that have gone unclaimed for at least nine
years by Massachusetts residents will soon be auctioned on eBay.
Massachusetts Treasurer Deborah Goldberg will have items on display all week before the auction goes live starting on Saturday, Oct. 7.
The traveling showcase will only feature a portion of the items up for auction. The first 100 lots will be up for auction on eBay starting at noon on Saturday. The treasurer's office will gradually release more items over two months and expects 1,200 lots will be up for auction by the end.
Items will be listed under the eBay seller identification mass.state.treasury.
The auction is the 11th time the state used eBay to liquidate unclaimed property. The state used to hold live auctions, but found the process to be less profitable due to limited reach.
Since November 2005, the eBay auctions for the state has raised just under $2.5 million for the Massachusetts' General Fund. There have been 9,439 bids in all the previous auctions.
The need to sell the tangible property holdings is because of storage constraints and logistical needs.
"We are excited to showcase these items in different regions across the state," Goldberg said. "The Unclaimed Property Division's eBay offerings are a proven success for maximizing revenue for the Commonwealth. This year's auction is gearing up to be another big hit."
If a person or their heirs later prove a piece of sold property belonged to them, the state will pay them back the sale price of the item.
There will be auction items on display across the state beginning Monday.
The locations and times for the displays are:
Massachusetts Treasurer Deborah Goldberg will have items on display all week before the auction goes live starting on Saturday, Oct. 7.
The traveling showcase will only feature a portion of the items up for auction. The first 100 lots will be up for auction on eBay starting at noon on Saturday. The treasurer's office will gradually release more items over two months and expects 1,200 lots will be up for auction by the end.
Items will be listed under the eBay seller identification mass.state.treasury.
The auction is the 11th time the state used eBay to liquidate unclaimed property. The state used to hold live auctions, but found the process to be less profitable due to limited reach.
Since November 2005, the eBay auctions for the state has raised just under $2.5 million for the Massachusetts' General Fund. There have been 9,439 bids in all the previous auctions.
The need to sell the tangible property holdings is because of storage constraints and logistical needs.
"We are excited to showcase these items in different regions across the state," Goldberg said. "The Unclaimed Property Division's eBay offerings are a proven success for maximizing revenue for the Commonwealth. This year's auction is gearing up to be another big hit."
If a person or their heirs later prove a piece of sold property belonged to them, the state will pay them back the sale price of the item.
There will be auction items on display across the state beginning Monday.
The locations and times for the displays are:
- Monday, October 2nd from noon to 5:00 p.m. - State House Nurse's Hall, Massachusetts State House, Boston
- Tuesday, October 3rd from noon to 6:00 p.m. - Irish Village Cape Cod, 822 MA-28, South Yarmouth
- Wednesday, October 4th from noon to 5:00 p.m. - Massachusetts State Lottery offices, 200 Theodore Rice Blvd, New Bedford
- Thursday, October 5th from noon to 5:00 p.m. - Springfield State Building, 436 Dwight St., Springfield
- Friday, October 6th from noon to 5:00 p.m. - Worcester State Lottery Office, 151 West Boylston Drive, Worcester
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