08/08/2017State Treasurer’s Office to hold LIVE Unclaimed Property Auctions at State Fair
State Treasurer John Perdue’s office will hold five unclaimed property auctions during the 2017 State Fair of West Virginia, scheduled August 10-19.
The auctions will be held at the State Treasurer’s Office exhibit in the West Virginia Building on the fairgrounds. Each auction starts promptly at 5 p.m. on the following dates: Friday, August 11; Saturday, August 12; Sunday, August 13; Thursday, August 17; and Friday, August 18.
Items up for auction this year include coins, knives, jewelry, sports memorabilia and other collectibles. The auctions will be fast-paced, energetic shows, with a licensed auctioneer soliciting bids. Each auction will consist of ten lots, which will be on display for preview daily at the State Treasurer’s Office exhibit. No registration is necessary for bidders.
Auction items are abandoned properties that have been turned over to the state from law enforcement or banks. After a certain amount of time prescribed by state law, these unclaimed items are permitted to be auctioned off. Original owners of the items from bank safe deposit boxes are entitled to proceeds.
“The goal is to get top dollar for these items, which is what the rightful owners are entitled to when they make a claim,” said Treasurer Perdue. “We also want to educate the public about our unclaimed property program and how they can be reunited with their abandoned property.”
This is the third year for the unclaimed property auctions at the State Fair. Last year, approximately 80 percent of available auction items sold at or above the estimated value.
During the State Fair, people also have the opportunity to do a free computer search to see if they have unclaimed property listed with the state. To learn more about the unclaimed property program go to www.wvtreasury.com.