State officials are calling their first-ever eBay auction a success. On November 24, the Treasurer’s office put 29 pieces of unclaimed property from Iowa banks up for auction. The sales closed Monday, December 3.
Officials say 18 Iowa buyers purchased the items for a combined total of $6,800.
The top selling item was a 14-karat gold engagement ring with a three-quarter karat diamond, that went for just over $2,400. Another big ticket items was a valuable 1931 penny that sold for over $100.
The State Treasurer’s Office is required by law to sell unclaimed property from Iowa banks. If the proceeds go unclaimed, then the profits go into the state’s general fund.
The state says since the first eBay sale was so successful, it’ll keep putting items up for auction twice a month until everything is gone.