Going, Going, Gone! Minnesota’s Online Auction is Underway
Just in time for your holiday shopping, the state of Minnesota's online auction of unclaimed items is on right now.
That's right, Minnesota's Commerce Department is once again holding an online auction of various items the state has collected from abandoned safe deposit boxes across Minnesota.
State law says banks, credit unions and other financial institutions have to turn items from safe deposit boxes over to the Minnesota Unclaimed Property Program after they've been sitting without activity or rent payment for five years. The state then holds onto them for another three years, but after that, they're available for auction.
Which is what's happening now. The Commerce Department says you'll find 470 items available for bidding in the current auction. It features things like "jewelry, coins and collectible items, including a Randy Moss sports card," the site said (You can see all the items HERE.)
This is the second online auction the Commerce Department has held this year, after having held a previous auction in June and July. That one featured bidders from 40 states, plus Bermuda, Canada and Switzerland. This current auction will end on November 27th, the site said.
If you think you might have had a relative with a safe deposit box that might now just be sitting there, you can search for their unclaimed property (before it heads to auction) through the Commerce Department website or at missingmoney.com.