PHOENIX — The Arizona Department of Revenue (ADOR) announced Monday that its annual public auction of unclaimed property will take place entirely online this year.
The auction is set to begin at noon on April 2 and will run through April 13. Items up for bid include valuables from safe deposit boxes, such as jewelry, coins, currency, and collectibles, according to ADOR.
How to Participate in the Auction
Potential buyers can preview auction items either online or in person at Sierra Management, Inc., located near 35th Avenue and Indian School Road.
The contents of unclaimed safe deposit boxes will be sold to the highest bidders, with all proceeds transferred to an account for the rightful owners to claim in the future.
What Happens to Unclaimed Property?
ADOR safeguards assets from unclaimed safe deposit boxes until they can be returned to their lawful owners. Through its Unclaimed Property Unit, the department successfully returned a record $88 million in unclaimed assets last year.
Unclaimed property typically includes financial assets owed to individuals or businesses. ADOR considers property unclaimed when the owner has not been in contact for a period of one to three years.
