Abandoned safe deposit boxes up for eBay auction

Posted by Humphrey Cheung

Chicago (IL) – The Illinois State Treasury Department is auctioning off the contents of abandoned safe deposit boxes on eBay.  In some cases, the boxes have been left unused since the 1960s and contain valuables such as diamond rings, precious stones and other jewelry.

State Treasurer  Alexi Giannoulias says shoppers can avoid holiday crowds by bidding on one of the 54 lots of jewelry.  He adds, “Budget-conscious shoppers are sure to find deals on classic jewelry and hard-to-find coins during our inaugural holiday sales.”  Bidding began on November 25th and several items are now fetching several hundred dollars. You can view the auctions here.

Illinois seizes unused bank deposit boxes after five years and then waits several more years before it auctions off the contents.  Previous auctions have raised almost $100,000.

Families of the previous owners can request a portion of the proceeds by filing some paperwork.

Read more … Reuters.