State Surplus to Auction Seized Jewelry

Items range from coins, rings, watches and earrings to Marilyn Monroe-style cuff bracelet

Date: December 6, 2010

RALEIGH – Looking for that certain something for a special person on your holiday list? A classic woman’s watch, perhaps, or a Harry Winston-style diamond cuff bracelet that might have caught Marilyn Monroe’s eye – except it’s a 9-inch men’s bracelet?

The State Surplus Property Agency of the N.C. Department of Administration will auction these pieces and much more seized by the N.C. Department of Revenue’s Unauthorized Substance Tax Section (USUB) on Dec. 9, 16 and 30. The items will be sold through an on-line sealed bid process.  

The USUB Division collects taxes on controlled substances such as marijuana and cocaine seized by law enforcement officers. Seventy-five percent of the money collected is returned to the state or local law enforcement agency whose investigation led to the assessment. The remaining 25 percent of the money collected is credited to the General Fund.
Net proceeds are applied toward the tax liability of individuals assessed under the state’s unauthorized substances tax laws. The revenue generated from all surplus property sales is returned to individual state programs, agencies or the General Fund. The State Surplus Property Division reports sales of about $20 million annually.

Items included in the December auctions range from coins, rings, earrings, bracelets and watches to the aforementioned diamond men’s cuff bracelet. While most items have not been appraised, the value of some of the individual items is estimated at $1,000 to $3,000.

Photos and descriptions of each lot to be auctioned may be viewed online (enter dates Dec. 9, 16 or 30) or in person between 9 a.m. and 4:30 p.m. Monday through Friday at the Surplus warehouse, located at 6501 Chapel Hill Road, Hwy. 54, Raleigh.  

Interested bidders must register for online bidding to participate in this or other sealed bids. Bidders are encouraged to review the Terms and Conditions of Sale posted on the website. All items are sold “as is” and final.  No refunds will be made. 

For more information, visit the State Surplus website or call at 919-854-2160.

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