Sadly, despite everyone’s best efforts possessions all too often remain unclaimed. This means that after a certain amount of time, organisations need to have processes in place to dispose of surplus lost property.
1) Thrown away / recycled
2) Donated to charity
3) The lost property auction
For businesses that operate across a large network and accumulate lots of misplaced possessions these can prove to be very lucrative. TFL managed to make £2m in three years doing exactly this.
What kind of items find their way to auction?
How do lost property auctions work?