A sketchbook thought to come from the hand of Pablo Picasso is among the thousands of lost treasures that will be auctioned off later this month. The items are the contents of abandoned safe deposit boxes, and every few years, the state Department of Revenue is required to sell them.
Once enough lost items pile up to attract sufficient interest from the buying public, the state has to dispose of the contents from safe deposit boxes that have been left unclaimed by owners for more than five years. Jewelry and collectibles such as rare stamps, baseball cards or comic books are the standard fare that generally brings in hundreds of thousands of dollars.
But this year’s auction could attract bids in the millions for one signature item, says Kim Schmanke, a spokeswoman for the state Department of Revenue.
"We haven’t authenticated it, but it’s believed it could be an actual sketchbook from 1912, from famed artist Pablo Picasso," Schmanke said. "And while we haven’t authenticated it, we have heard that there are several art collectors and institutions who are arranging private viewings to look at it and see if it in fact could be a Picasso item."
The book has 27 sketches that resemble images Picasso was drawing at that time. And it has his name on the inside cover, as well as on one page. It was carefully stored with paper between the images.
The book will be for sale on the second day of the auction, on Nov. 20. Public previews of the sale take place on Nov. 17 and 18. The catalog can also be seen online. Bids will be accepted online or in person on the day of the sale.
The state Department of Revenue usually spends three years trying to find the owner of an item or a legal heir. The state doesn’t make a profit on items sold; it holds the money until someone who can prove to be the rightful owner shows up to claim it.
You can search the database by name to see if anything is waiting for you. The department currently has more than $1 billion in unclaimed funds.
The auction will be held on Nov. 19 and 20 in Kenmore, at 18226 68th Ave. NE.
