Illinois Auctioning Off Unclaimed Jewelry On eBay

Online retailers were offering deep discounts Monday to kick-start their holiday shopping season.

But if you are looking to buy your loved one jewelry for the holidays, the state of Illinois has a deal for you.

For years, many pieces of jewelry have been sitting inside safety deposit boxes, never reclaimed by their owners. But thanks to the Illinois Treasurer's Office, someone else will be able to enjoy them.

"One of these items shown has been in state possession for 40 years," said State Treasurer Alexi Giannoulias.

Watches, necklaces, rings and more are among the 53 items now up for auction on eBay.

In the past, these items went on the auction block once a year. But this year, instead of traveling to Springfield, potential buyers just have to visit the Web.

Giannoulias said that in a conventional auction in 2006, the state had 150 bidders. But with the first online auction in 2007, they received 34,500 bids on eBay.

The money earned from the sale will be put toward state pensions, but if the owner or heir ever comes forward, they will collect the money.

The jewelry auction ends Dec. 2. Next week's auction will feature rare collectibles.
Source: nbc5