main menu page title feature menus content footer
My Florida C F O

CFO's Initiatives

Stay Connected

Follow the
Department of
Financial Services

Sign up for the CFO's
weekly newsletter!

Press Release

News   RSS RSS   Press Office   Archive

State to Hold Unclaimed Property Auction in Miami


CONTACT: Justin Glover
(850) 413-2842

TALLAHASSEE - The Department of Financial Services is auctioning more than $500,000 in unclaimed property on Saturday, July 31, in Miami. Nearly 10,000 items will be put on the auction block, including antique jewelry, sports memorabilia and Mayan artifacts.

Florida's Chief Financial Officer Tom Gallagher, who will kick off the event as a guest auctioneer, said, "The auction is a great opportunity for the public to bid on unique and interesting items and to know that the proceeds are going directly to help Florida's public schools."

Funds turned over to the state and money collected from auctioning valuable items are deposited into the State School Trust Fund, a trust fund managed by the Department of Education and benefiting Florida's schools. Funds are always available for Floridians to claim at any time.

Many schools have used those dollars to fund reading and mentoring initiatives as well as to buy needed supplies, Gallagher added.

A majority of cash and items held by the state come from abandoned bank accounts and safe deposit boxes in Florida banks and credit unions. In addition, cash may be available from utility deposits, insurance refunds and stock payments. Florida law requires financial institutions to remit property that is unclaimed to the state after three years.

Property that is valuable, such as jewelry, coin collections or antiques, is typically held by the state for two to three years, after which it is auctioned. Property is never sold below the estimated appraisal value, and the proceeds are held indefinitely until the owner is found and able to collect.

According to Gallagher, the state has more than $1.1 billion in unclaimed property waiting to be returned to the rightful owners. No fees are ever charged for this state service, he said.

To find out if cash or property is being held by the state for you, or if you are an heir to unclaimed property, log on to and enter as much information as you can into our easy-to-use claim form. Floridians may also call our toll-free number at 1-88-VALUABLE.

The auction will be held tomorrow at the Crowne Plaza Miami Airport Hotel near the Miami International Airport starting at 9 a.m. Bidding requires a refundable deposit and valid photo identification. Visit for more information or to view an online catalogue of available items.