WEST PALM BEACH — One Floridian’s forgotten safe deposit box could become another bidder’s jackpot this weekend.
More than 56,000 pieces of jewelry, coins, precious metals, antiques and collectibles will hit the auction block Saturday during Florida’s annual Unclaimed Property Auction at the Embassy Suites on Belvedere Road.
The massive sale includes roughly 512 lots with combined opening bids totaling nearly $1.3 million.
The valuables were pulled from safe deposit boxes after their owners stopped paying rent and banks were unable to track them down. After three years, the boxes can be drilled and transferred to Florida’s Division of Unclaimed Property, which holds the contents for at least two more years while attempting to locate the owners.
Items that remain unclaimed are eventually sold — but the owners do not lose everything. The proceeds are credited to their accounts and can still be claimed by them or their heirs at any time.
The public can inspect the merchandise Friday from 9 a.m. to 5 p.m. There will be no preview on auction day. Registration opens Saturday at 7 a.m., with bidding beginning at 9 a.m. and continuing until every lot is sold.
Would-be treasure hunters must present a valid driver’s license and a refundable $100 deposit to register. Bring cash or a debit card if you plan to bid — credit cards are not accepted. Buyers will also pay a 12% buyer’s premium on every winning bid, and all sales are final.
Bags, purses, carts, chairs, strollers and opaque containers are prohibited in the preview area.
The auction will be held at the Embassy Suites by Hilton, 1601 Belvedere Road in West Palm Beach. Before bidding on someone else’s forgotten fortune, Floridians may want to check for one of their own: State officials say one in five residents has unclaimed property waiting to be recovered through Florida’s Unclaimed Property Program.
