State Treasurer Don Stenberg announced today his office will auction off some of its unclaimed property on eBay.
“Beginning Monday, September 17th, the Treasurer’s Office will host an online auction on eBay of items in 272 lots from safe deposit boxes that were turned over to the state seven or more years ago,” Stenberg announced during a news conference in his office that features some of the items that will be put up for auction.
The items include Silver Certificates, silver coins, pocket watches, antique jewelry as well as a set of 1992 USA Men’s Olympic Basketball Team cards, the original Dream Team. Each items has been professionally appraised. The most valuable piece, according to appraisers, is a diamond wedding ring appraised at $950. The money will be kept in the Unclaimed Property Division to be claimed by the rightful owner or their heirs.
Stenberg said the eBay auction will allow everyone in Nebraska as well as across the country the chance to bid on the items.
“I mean another option is to hold a live auction in Lincoln, Omaha, Scottsbluff, wherever, but the number of people that can attend that or will attend that is quite limited,” Stenberg said. “So, we thought eBay would get the biggest exposure and would hopefully lead to the higher prices on the items.”
The auction will begin at 10am CDT Monday. It will run for a week, ending at 10am CDT on the 24th. Bidding is open to any registered user of eBay.
Stenberg pointed out money made from the auction will be collected and retained for its rightful owners or their heirs.
“Although in some states, after a period of time, you’re basically out, Nebraska law, you can come in 75 years from now, if you’re the heir of one of these folks and if you can establish that you’re the rightful heir you can recover the momentary value of that property,” Stenberg stated.
State law requires the Treasurer auction off unclaimed property at least once every five years. The last auction of unclaimed property, also held on eBay, was in 2009.
AUDIO: State Treasurer Don Stenberg announces eBay auction of unclaimed property. [8:40]