Florida smashes unclaimed property auction record

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Led by Chief Financial Officer Jimmy Patronis, Florida sold a record-breaking $2.29 million in unclaimed property at a West Palm Beach auction over the weekend.

An 18-carat gold necklace and a 19^th century pocket watch were among the more notable items sold at the auction. Unclaimed property is a lost or uncollected financial asset in the state’s possession.

“This weekend, the unclaimed property auction in West Palm Beach was a huge success and set a new state record as we totaled more than $2.2 million in auction proceeds!” Patronis said in a statement. “This is an amazing accomplishment and thank you to everyone who came out to bid on auction items and to my staff for their hard work on behalf of Floridians.”

Unclaimed property proceeds are deposited into a public education fund until claimed by an owner. Over the years, celebrities and politicians including former President Donald Trump, U.S. Sen. Marco Rubio and former MLB star Derek Jeter have been among those listed in the unclaimed property log.

The previous auction record totaled $2.03 million and was set in May at a Miami auction. In all, more than $10.2 million worth of unclaimed property has been sold since 2017 at seven auctions.

“As your CFO, I’ve returned a total of more than $1.4 billion in unclaimed property and my mission is to return every penny back to its rightful owner,” Patronis said. “An estimated one in five Floridians has unclaimed funds just waiting to be claimed.”

Patronis urged all Floridians to search for unclaimed property under their names or the name of a loved one. In August alone, Floridians recovered more than $36 million in unclaimed assets.

Notably, unclaimed property can take many forms including stocks, dormant bank accounts, inheritances, uncashed checks, credit balances and refunds.

Florida residents and businesses can search for unclaimed property online.