Abandoned Mass. Property to Be Sold on eBay
Monday, December 01, 2008
Unclaimed silver, gold & gemstones, original Grant Wood to be liquidated online
The Commonwealth of Massachusetts is turning to eBay as a vehicle for liquidating unclaimed and abandoned property. According to WBZ-TV, items including gemstones, silver, gold and pendants will be up for the highest bidding starting this Thursday (Dec. 4th) on eBay.
The auction is part of the state's annual abandoned property auction in which unclaimed or abandoned property left in safe deposit boxes are put up for sale. "It's an opportunity for us to make money for the Commonwealth. We've raised over 400,000 dollars in the past three eBay auctions, State Treasurer Tim Cahill said.
As required by state law, any safe deposit boxes that have not been maintained for seven years are turned over to the Treasury's Abandoned Property Division. If the Treasury cannot locate the owners, the goods are appraised and put up for public auction. According to James Roy, the State Treasurer's tangible property managers says, "There are some great deals out there. If you're interested in buying gold and silver, you don't have to pay a broker, you can buy it right on eBay."
The most expensive item is a Grant Wood coin valued at $3,000. He is perhaps best known for his paintings depicting the rural American Midwest, particularly the painting called "American Gothic."
In addition to gold coins, there is silver and paper money - even Yen from Japan. Costume Jewelry is also available for auction, including rings valued at about one dollar.
User words for eBay state.treasurer.cahill.
The Commonwealth of Massachusetts is turning to eBay as a vehicle for liquidating unclaimed and abandoned property. According to WBZ-TV, items including gemstones, silver, gold and pendants will be up for the highest bidding starting this Thursday (Dec. 4th) on eBay.
The auction is part of the state's annual abandoned property auction in which unclaimed or abandoned property left in safe deposit boxes are put up for sale. "It's an opportunity for us to make money for the Commonwealth. We've raised over 400,000 dollars in the past three eBay auctions, State Treasurer Tim Cahill said.
As required by state law, any safe deposit boxes that have not been maintained for seven years are turned over to the Treasury's Abandoned Property Division. If the Treasury cannot locate the owners, the goods are appraised and put up for public auction. According to James Roy, the State Treasurer's tangible property managers says, "There are some great deals out there. If you're interested in buying gold and silver, you don't have to pay a broker, you can buy it right on eBay."
The most expensive item is a Grant Wood coin valued at $3,000. He is perhaps best known for his paintings depicting the rural American Midwest, particularly the painting called "American Gothic."
In addition to gold coins, there is silver and paper money - even Yen from Japan. Costume Jewelry is also available for auction, including rings valued at about one dollar.
User words for eBay state.treasurer.cahill.
posted by Chris and Frank at 8:49 PM
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