The Arizona Department of Revenue will hold a public auction of unclaimed property from abandoned safe deposit boxes beginning Thursday, Dec. 10.
The sale will take place online and feature the contents of safe deposit boxes including jewelry, coins, currency and a variety of collectible items that have not been claimed for many years, the department announced in a news release.
Bids may be placed online at sierraauction.com from 5 p.m. Dec. 10 through 5 p.m. Monday, Dec. 14.
The contents of safe deposit boxes shall be sold “as is” and “where-is.” Items will be sold to the highest bidder and ADOR does not make any warranty of any kind, expressed or implied, as to the condition of the articles offered for sale, the release stated.
Proceeds from items sold from the auction are transferred to a custodial account where the funds will remain for the rightful owners to claim.
Assets from abandoned safe deposit boxes make up a portion of unclaimed money the Arizona Department of Revenue safeguards until funds can be returned to claimants.
ADOR’s Unclaimed Property Unit returns millions of dollars of unclaimed assets to their rightful owners every year. In fiscal year 2020 (July 1, 2019, to June 30, 2020), $42.5 million was paid out, the release stated.
The department returns the property to owners who provide documentation showing their right to claim the property. To file a claim, a person must submit a claim form along valid photo identification such as a driver’s license or other applicable identification, and documentation linking them to the owner’s last known address, as reported by the company that filed the unclaimed property.
Claimants also must provide documentation demonstrating a legal right to claim any property listed in another name.
For more information about ADOR’s Unclaimed Property Unit and how to do a search, visit azdor.gov and click on the Unclaimed Property tab.