- Associated Press - Monday, April 16, 2012

SPRINGFIELD, ILL. (AP) - State Treasurer Dan Rutherford is calling his office’s online unclaimed property auction a success.

Rutherford says the 7-day auction listed nearly 15,000 pieces of unclaimed property and sold 14,734 of the items, boasting a 99 percent success rate. Items ranged from a diamond ring and loose jewels to coin lots.

The sale price of each lot was required to reach at least 75 percent of the appraised value.

Rutherford says the rightful owners of the property have not come forward to claim their items in more than five years.

The treasurer says he hosted the auction online instead of in-person to save the state money.

According to Rutherford, the online process cuts auction costs significantly.

The next online auction hosted by the treasurer’s office is scheduled for July.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide