The Arizona Department of Revenue (ADOR) will hold a public auction of unclaimed property from abandoned safe deposit boxes beginning Thursday, December 10.
The sale will take place online only and will feature the contents of safe deposit boxes (which include jewelry, coins, currency, and a variety of collectible items) that have not been claimed for many years.
Bids may be placed online at www.sierraauction.com, from 5 p.m. on Thursday, December 10 to 5 p.m. on Monday, December 14.
A public preview will be available on Friday, December 11, 2020, from 8 a.m. to 4 p.m. The contents of safe deposit boxes shall be sold “as is” and “where-is.” The Arizona Department of Revenue will sell, to the highest bidder, the contents of safe deposit boxes and does not make any warranty of any kind, expressed or implied, as to the condition of the articles offered for sale.
Proceeds from items sold from the auction are transferred to a custodial account where the funds will remain for the rightful owners to claim.
Assets from abandoned safe deposit boxes make up a portion of unclaimed money the Arizona Department of Revenue safeguards until the funds can be returned to claimants.
ADOR’s Unclaimed Property Unit returns millions of dollars of unclaimed assets to their rightful owners every year. In fiscal year 2020 (July 1, 2019 to June 30, 2020), $42.5 million was paid out.
The department returns the property to owners who provide documentation showing their right to claim the property. People must include with their claim form a valid photo ID, such as a driver’s license or other applicable identification, and documentation linking them to the owner’s last known address, as reported by the company that filed the unclaimed property. Claimants also must provide documentation demonstrating a legal right to claim any property listed in another name.
For more information about the Department of Revenue’s Unclaimed Property Unit and how to do a search, go to www.azdor.gov and click on the Unclaimed Property tab.