Millions of dollars worth of unclaimed property up for grabs - NBC12.com - Richmond, VA News

Millions of dollars worth of unclaimed property up for grabs

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RICHMOND, VA (WWBT) -

The unclaimed property auction has a variety of old and new age items, including vintage baseball cards, historic dollar bills, pocket watches, and jewelry.

Bidding is already underway, but this Thursday you can actually see what you are bidding on. Vicki Bridgeman says the state gets these items from businesses often because families forget about them.

"They are businesses that may be holding things in safe keeping, such as bank safe deposit boxes and police department evidence rooms and hospitals for patient valuables," said Vicki Bridgeman with the Division of Unclaimed Properties.

Those valuables are kept in the unclaimed property vault for at least two years. When space runs out inside the vault, those items need to go. Nearly 300 people participated in last year's online auction. The on-site preview day will be held in the conference room inside the Monroe Building.

After the auction, the money is kept until a rightful owner either claims the money or it goes into the treasury's general fund.

"At the end of the year, we transfer any excess funds to the literary fund and the literary fund is used for the K thru 12 education in Virginia," Bridgeman said.

While you can only place your bids online, you can stop by the Monroe building in downtown Richmond and get a look at some of the items in person.

The 2014 Tangible Property Auction is hosted on www.ebidlocal.com under the heading "VA Treasury Dept. Unclaimed Property Auction Online."

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