A platinum bar has fetched the highest price for any item during an auction by the state of Massachusetts.

According to local publication The Republican, it was part of the state's first online auction of abandoned items, eventually selling for $45,000. The 200 lots went for a total of $140,000.

The state's treasury abandoned property division is set to launch a second auction beginning this week in the light of that success.

Hundreds of abandoned items will be placed on a seven day auction on the online auctioning website eBay.

Interest in the platinum bar is symptomatic of the demand for recycled platinum due to the increasing cost of the commodity.

A specialist metal recycling company in the US recently began to donate money to a charity of the customers' choice in exchange for their scrap platinum jewellery.

BCS Recycling took broken cuff links, chains, earrings and bars in return for the donations.

Other reports have revealed that pawn shops are being used as a cheap source of platinum in some areas.


Ÿ Adfero Ltd