eBay Proves Lucrative for Nevada

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Nevada's first experience in selling unclaimed property on eBay surpassed Treasurer Brian Krolicki's expectations as the state earned $16,000 selling 25 items.

Krolicki said that compares with $15,000 the state received last year when it sold thousands of items through traditional auctions.

The state gave a 3.5 percent processing fee on its receipts to eBay, the Internet auction giant based in San Jose, Calif.

"It was an unqualified success. ... We will do it again with more items in December," Krolicki said Wednesday.

By state law, the treasurer can sell items found in old bank safety deposit boxes whose owners have vanished for several years. Heirs to the owners of the property may collect the sales prices later.

The biggest single item sold was an 1891 $20 gold piece. That brought $6,100, about its appraised value.