State treasurer’s office holds annual auction of unclaimed property online

CARSON CITY — The state treasurer's office is holding its annual auction of unclaimed property and for the first time it's being conducted online.

In years past, the auction of valuables deemed abandoned was held at an on-site facility in Las Vegas. But this year, it's being hosted through an online auction site, www.tntauction.com.

Bidding began Monday and runs through 9 a.m. Feb. 24.

"For the first time we are able to reach an audience that extends beyond Las Vegas, and even Nevada," said Linda Everhard, deputy treasurer in charge of unclaimed property.

Property is presumed abandoned when there has been no activity or no contact with the owner for a specific time, typically one to three years.

Assets include items found in safe deposit boxes, unclaimed security deposits, bank accounts, uncashed payroll checks and insurance payouts.

Once property is deemed unclaimed, it is turned over to the state treasurer's office. While items are sold, the original owner or heirs can claim the value of those assets in perpetuity.