FOR IMMEDIATE RELEASE
August 4, 2008
Diamonds, Gold and More—Unclaimed and For Sale Online
Bidding Underway in Unclaimed Property Auction through the Attorney General’s Office
(INDIANAPOLIS, IN)— From the valuable to the unusual--since 2006, Indiana’s auction of unclaimed assets has collected nearly $143,000 announced Indiana Attorney General Steve Carter. The auctioned items, found in safe-deposit boxes turned over to the state as unclaimed property, include a 2 carat diamond ring that sold for $3,250, and a casket key that fetched 99 cents.
“While countless people have checked IndianaUnclaimed.com for lost or forgotten assets, many don’t know about our online auction,” Carter said. “The money collected through the auction is added to Indiana’s unclaimed property database and held for its owner. It’s one more way that the state is working to reunite Hoosiers with unclaimed assets, and I encourage people to browse, bid, and check back often. You never know what you’ll find.”
More than 1,300 items have been auctioned-off to buyers nationwide since online bidding began in 2006. New items are added regularly.
Financial institutions and other holders are required annually to turn over the assets of accounts in which there has been no activity for 5 or 7 years, depending on the type of account. Unclaimed property includes investment earnings, insurance proceeds and benefits, wages, and money from savings and checking accounts. Less than one percent of unclaimed assets are tangible, physical items, such as those found in safe-deposit boxes. It is important to note that unclaimed property does NOT include abandoned vehicles, real estate or other such items.
In 2004, attorney general Carter pledged to return $100 million in unclaimed assets by the end of his current four-year term. His office has exceeded that goal, returning $118 million in just three years.
Last year, the attorney general’s office returned more than $600,000 to people in Southeast Indiana. But assets equaling $5.6 million remain unclaimed for the 8-county area, including $1.6 million in new property added within the past year.
In total, the state’s unclaimed property database holds $326 million, spanning 25 years.
The total value and number of properties added to the Unclaimed Property database from counties in Southeast Indiana is:
County |
Property Totals |
Total $ Value added in 2007 |
DEARBORN |
1,810 |
$251,798 |
FRANKLIN |
805 |
$79,459 |
JEFFERSON |
990 |
$191,747 |
OHIO |
148 |
$15,482 |
RIPLEY |
664 |
$76,528 |
SWITZERLAND |
265 |
$17,994 |
UNION |
182 |
$10,708 |
WAYNE |
2,971 |
$961,624 |
GRAND TOTAL |
7,835 |
$1,605,340 |
The attorney general is publishing the listings of assets turned over to the state in the last year only from Southeast Indiana. In addition, people will be exposed to a public awareness campaign for IndianaUnclaimed.com, which coincides with the published listings.
The following are the newspapers in Southeast Indiana that are publishing the listings:
County |
Newspaper |
Dates of Publication |
DEARBORN |
Dearborn County Register |
August 7 & August 14 |
FRANKLIN |
Brookville Democrat |
August 6 & August 13 |
JEFFERSON |
Madison Courier |
August 6 & August 13 |
OHIO |
Rising Sun Recorder |
August 7 & August 14 |
RIPLEY |
Versailles Republican |
August 7 & August 14 |
SWITZERLAND |
Vevay Reveille Enterprise |
August 7 & August 14 |
UNION |
Liberty Herald |
August 7 & August 14 |
WAYNE |
Richmond Palladium-Item |
August 6 & August 17 |
The public awareness campaign includes billboard, newspaper, television and radio ads. It focuses on the excitement associated with finding money and assets, even if they were already yours. It also reminds people that the database is dynamic, with new assets being added regularly.
The Unclaimed Property database can be searched 24-hours a day, 7 days a week at www.IndianaUnclaimed.com. The Unclaimed Property Division’s toll-free number is
1-866-IN-CLAIM (462-5246).
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