Oregon State Treasury to host online auction of unclaimed property in safes

SALEM, Ore. (KTVZ – Just in time for Black Friday holiday shopping, the Oregon State Treasury is hosting an online auction of items from abandoned safes received by its real estate team not Auctions are open until Friday, November 26 for jewelry, coins, baseball cards and other unique treasures from the contents of safes collected through Oregon’s Unclaimed Property Program.

“Holding an online auction to coincide with Black Friday seemed like a fun way to attract buyers while also drawing attention to our unclaimed property program,” said Treasurer Tobias Read. “People can support the program by bidding on items for sale and also check to see if Oregon has any unclaimed property that belongs to them.”

The live auction will begin at 11:00 am on Friday, November 26, the day after Thanksgiving, and will end around 12:30 pm Capitol Auction & Estate Services will host the auction on its website and pre-bid on items are available now.

This is the first sale of vault content in over two years, and the first time that the auction will be conducted exclusively online.

“Hosting the online auction makes it easier for people in Oregon and the United States to participate, especially now when in-person auctions may not be an option for some,” said Claudia Ciobanu, Director of Trust Property.

Previous vault auctions have brought in up to $ 120,000 for Oregon’s unclaimed property program. The proceeds of all items sold are held in trust in the Common School Fund, an investment fund overseen by the Oregon State Treasury.

The fund generates interest income which is distributed to the Oregon K-12 public schools, while the principal amount of each sale is recorded in the Oregon Unclaimed Properties program for homeowners. article can claim it. The ability of Oregonians to submit claims for unclaimed money held on their behalf never expires.

Oregon’s Unclaimed Property Program protects assets on behalf of the original owners or their heirs. Every year, businesses, nonprofits, and state government agencies must report and return unclaimed property to the Oregon State Treasury. Unclaimed property includes uncashed checks, unreturned deposits, forgotten bank accounts and abandoned safes.

Program staff try to contact safe deposit box owners before items are released for sale. Items such as military medals or other badges are never auctioned; instead, people can search for unclaimed medals on our website: oregon.gov/treasury.

About $ 80 million in unclaimed funds are reported annually under Oregon’s unclaimed property program. Since the program arrived at the Oregon State Treasury in July, more than $ 8.5 million has been returned to applicants. Oregonians who want to see if the state holds unclaimed property on their behalf can visit unclaimed.oregon.gov and search on their name.

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