Online auction of N.M. unclaimed property begins

ALBUQUERQUE, N.M. (AP) - An online auction of more than 8,100 state-owned items has begun.

The New Mexico Taxation and Revenue Department launched the online auction Monday to sell unclaimed property in the state's possession. Items include rare coins to old comic books.

The online auction follows a live event Saturday that attracted more than 500 people to the Albuquerque Convention Center.

The auctions are the first of their kind in nearly 20 years, though New Mexico law requires that the state auctions off unclaimed items within three years of their discovery.

The two sales are estimated to bring in $800,000-$1.5 million for the state. That money will go back into the state's general fund.

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