Massachusetts abandoned property auction
Published December 10th, 2005
The state’s first Internet auction of abandoned property netted Massachusetts $140,000, with winning bids ranging from $3.25 to tens of thousands of dollars, state Treasurer Tim Cahill said Thursday.
One of the highest selling items was a 49.235 ounce bar of platinum that sold for nearly $46,000 to Coins ‘n Things, a precious metals company in Bridgewater. Cahill presented the bar to Danielle Oliari, daughter of the store owner Mark Oliari.
The auction lasted for three weeks with 25 lots put up every two days for a total of 200 lots. All but seven met the minimum selling price. Two-thirds of the winning bids came from Massachusetts residents. One winning bid came from Italy.
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