State Of New Mexico To Auction Unclaimed Property

Albuquerque --- Governor Susana Martinez announced that the State will auction off thousands of items, including collectibles and antiques, that have been unclaimed by their rightful owners or heirs for the past 18 years. About 8,800 quality lots of jewelry, coins, watches, wrist watches, comic books, books, bullion, stamps, toys, antiques and collectibles will be auctioned off online and during a live auction next weekend at the Albuquerque Convention Center.
"The decision to move forward on this auction is out of fiscal responsibility to our taxpayers," said Governor Martinez.  "The items have value for everyone from amateur treasure hunters to serious collectors and investors."
Taxation and Revenue Secretary Demesia Padilla said that the last such auction was held in 1995, and since then thousands of new items have been deposited with the State.
Some of the unique and collectible items include: a 210-year-old bottle of cognac - an 1802 Napoleon Cognac; 400 American Indian art pieces; 150 world gold coins; 72 United States gold coins; and 1,876 United States silver dollars.
The live auction is scheduled for 10 a.m. on Saturday, July 27, at the Albuquerque Convention Center. Viewing of some 760 lots of items to be offered at the live auction will be also held at the Convention Center, on Friday, July 26. In addition, an "online" auction of 8,100 lots of items is scheduled to begin on Monday, July 29, at 12:00 a.m. and will end on Monday, August 5, at 7:00 p.m.
Padilla said that the Department collects all unclaimed property, including cash, securities and stock, from safe deposit boxes of different banks each year. The banks turn over this property to the State after the account holder fails to claim them. 
"We make every effort to locate the rightful owners or their heirs before auctioning off this property because some of these items could have personal and sentimental value," Secretary Padilla said.

Image Courtesy MGN Online

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