Illinois Auctioning Off Unclaimed Property
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SPRINGFIELD, IL (IRN) - Ahead of the holidays, the Illinois Treasurer’s Office is auctioning off unclaimed property.
The treasurer’s online unclaimed property auction is set to start at 10 a.m. Nov. 26 and will close at 10 p.m. Nov. 30.
“Just in time for the Christmas season, we are auctioning off 18,900 pieces of unclaimed property,” said State Treasurer Dan Rutherford.
Items include a book signed by Mickey Mantle, silver bars, gold Krugerrands, antique political buttons and more. Rutherford says the property being auctioned has sat for 10 or more years. If the rightful owners or heirs are found and the property has already been auctioned off, proceeds from the auction then revert to the owner.
In most cases, the property was in a bank box that sat unclaimed for years. By law the contents must be turned over to the treasurer if the owners can’t be found.
The sale price of each item must reach at least 75 percent of the appraised value.