Arizona Department of Revenue to Hold Public Auction for Unclaimed Property on Dec. 8

The Arizona Department of Revenue will conduct a public auction of property that has remained unclaimed for many years. Online auction takes place from Dec. 6 to 10. 

The sale will take place at 12 p.m. on Friday, Dec. 8 by Sierra Auction, 3570 Grand Avenue in Phoenix, and will feature a variety of merchandise including vintage U.S. currency, jewelry and precious metals. Live in-person bids will be accepted, and bids can also be placed online at www.sierraauction.com prior to the auction as well as during a live, online simulcast of the auction.

The online auction is being held from Dec. 6 to Dec. 10 until 5 p.m.

The auction is for property from safe deposit boxes that has been unclaimed for a period of at least five years.

Proceeds from items sold via auction are transferred to a custodial account and will remain available to their rightful owners for claiming. There is no deadline to file a claim.

The Arizona Department of Revenue's Unclaimed Property Unit returns millions of dollars of unclaimed property to their rightful owners every year. In fiscal year 2017 (July 1, 2016 to June 30, 2017), more than $57 million was paid out to claimants, the best year on record.

The Department returns property to owners who provide documentation showing their right to claim the property. People must include with their claim form a valid photo ID, 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 must also provide documentation demonstrating a legal right to claim any property listed in another name.

Additional information about the Auction:

Items may be inspected on the day of sale from 8 a.m. to 12 p.m., with registration for the auction commencing at 8 a.m. on December 8.

Bidders may be required to place a refundable deposit for any assets being sold by Sierra Auction. All payments must be made in U.S. funds.  Personal checks and business checks are not accepted for payments. 

For more information about the Arizona Department of Revenue’s Unclaimed Property Unit, go to www.azdor.gov and click on the Unclaimed Property tab.

Posted on Monday, December 04, 2017