Auctions
Only if a pawn loan has not been extended and all set deadlines have passed is the pawned item auctioned by a publicly appointed and sworn auctioneer or a bailiff. From the auction proceeds, the pawnshop may only deduct the loan, the accrued interest and fees, and a proportionate share of the auction costs.
Any remaining amount belongs to the former owner of the item. They have two years to claim this money by presenting the pawn ticket. If they do not, the entire surplus goes to the city.
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