Monday, April 11, 2011

Unclaimed Property: Home Shopping Edition

In the market for a sterling sombrero keychain?  Maybe some sterling silver ice cream dishes?  You don't have to go to the mall and wait on line, you can buy from the Texas Unclaimed Property Division's eBay site!

Pursuant to the Texas Unclaimed Property Act, the Treasurer has the obligation to sell all abandoned property (other than cash or marketable securities) to the highest bidder.  While in earlier years that might have meant an under-publicized auction at a government facility, with little interest and few bidders, today's unclaimed property departments are turning to online sources (such as eBay) to drum up interest, and increase the receipts from auctions.  So, whether your interested in seeing how unclaimed property departments are running today's auctions, or you are just looking for an 18K Oil Derrick Tie Tack (and, really, who isn't?), be sure to check it out.

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