Treasurer Stacy Garrity: More Than $450,000 Generated During Spring Unclaimed Property Auction

Harrisburg, PA - Treasurer Stacy Garrity announced today that Treasury's spring unclaimed property auction brought in more than $450,000. All proceeds are carefully documented by Treasury and will remain available for the rightful owners to claim no matter how much time passes.

"I'm so happy another successful auction was held, generating more than $450,000 in proceeds. Treasury's first priority is always returning items safeguarded in our vault back to their rightful owners, but eventually we do have to auction items to make room for incoming property."

More than 4,000 items were sold during the online auction on March 25. Items not sold at auction, or those not paid for by a winning bidder, are returned to Treasury and may be listed in future auctions.

Treasury partners with Pook & Pook, Inc., of Downingtown for auctioneer and appraisal services.

"The success of this past March's auction was a testament to that process, with realized prices exceeding the high total estimate," said Deirdre Pook Magarelli, President of Pook & Pook Inc. "The team at Pook & Pook looks forward to continuing its partnership with the Treasury in the years ahead, helping each piece entrusted to auction realize its fullest potential."

Some of the high price items sold in the auction include:

• Two 22K yellow gold bracelets were sold for $8,000;
• American Eagle gold coin set sold for $7,500;
• 18K yellow gold bracelet with twenty-four round diamonds and twenty-four round sapphires, 48.3 dwt, together with a pair of Anthony Lent 18K gold earrings with twenty-four round diamonds, 2.45 dwt, sold for $6,000
• Sterling silver tea service set sold for $5,000; and
• 18K yellow gold Lover's Eye pendant with fifteen round diamonds sold for $4,400.

Treasury expects to net over $450,000 from total gross auction sales of $523,873.

Businesses are required to report unclaimed property to Treasury after three years of dormancy. Tangible items, most commonly the contents of abandoned safe deposit boxes, are safeguarded in Treasury's vault for an additional three years while Treasury continues working to locate the rightful owners. Treasury will never auction military decorations or memorabilia.

More than $5 billion in unclaimed property is available to be claimed. More than one in ten Pennsylvanians is owed unclaimed property, and the average claim is worth more than $1,000.

To learn more about unclaimed property or to search Treasury's database, visit patreasury.gov/unclaimed-property.

To learn more about Pennsylvania Treasury, visit patreasury.gov and be sure to stay up to date with all Pennsylvania Treasury news on Facebook (PA Treasurer Stacy Garrity) and Instagram (@PATreasury).