Florida Unclaimed Property Auction Brings In $1.5M For Education Trust Fund

Aug 4, 2015

Items like these were auctioned off at the recent Florida Unclaimed Property Auction in Jacksonville.
Credit Mary McIntyre / WJCT News

The state of Florida’s unclaimed property auction held in Jacksonville over the weekend generated more than $1.5 million.

The News Service of Florida reports the most expensive item was a diamond ring that sold for $100,000.

The state picks a different city each year where it auctions off items found in abandoned safe deposit boxes. The items first go to a vault in Tallahassee for two years while the state tries to locate their owners.

The money raised goes into a state education trust fund, but owners who come forward after their property has been auctioned can still claim the proceeds from the sale.