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

Mary McIntyre

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.

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Cyd Hoskinson began working at WJCT on Valentine’s Day 2011.