In the state of Wisconsin, they have developed a policy under which, after a certain period of time, items including diamond jewelry are put up for auction on eBay.  The Wisconsin state government had to find a modern solution to the problem of unclaimed items from safe deposit boxes.  Because there isn't space to store items forever, and because they wait a reasonable amount of time prior to auction, the solution was obvious: eBay.

According to Wisconsin Treasurer Dawn Marie Sass, "We get safety box contents after five years of non-payment of rent.  For three years we try to find the original owners, and...if we can't, we have to auction off our possessions."  So, after eight years of non-use, items become available to the highest bidder, and Wisconsin finds itself with a new revenue stream.

Most recently, buyers could find 14-carat white gold diamond earrings, a half-carat Colombian emerald, a .85 solitaire diamond engagement ring (size 7), and a pocket watch with a 62-inch chain.  Because the state is now selling online, their buyers are far more varied.  Now, they have international clientele, and have become a good source for quality jewelry.

Sass said, "We've gotten bids from all over the world--China, Ireland, Spain.  We have repeat bidders, and now we have the ability to alert people with an email who have come to our site before that the next auction is coming up."  Wisconsin will likely be starting a trend, as all states have to find a way to deal with abandoned items, and all states can use the extra income. 

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