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Mass. to hold eBay auction for unclaimed property

05.02.12

While the proceeds of the auction benefit state government, Grossman said the primary goal of his office’s unclaimed property division is to reunite property with those who owned it in the first place. The approximately 1,000 items available in this year’s auction have a total appraised value of about $350,000, treasury officials said, but in the past they have sold on eBay for an average of 60 percent above their appraised value. To that end, the state operates a website listing abandoned property that has been turned over to the state, and has also posted the list in newspapers. An estimated one in 10 Massachusetts residents have unclaimed property, Grossman said.

Source: Boston.com