Colo. Rev. Stat. § 42-13-103
If the identity or location of the owner or person entitled to possession of the property has not been ascertained within six months after the law enforcement agency obtains possession of the property described in section 42-13-101, the sheriff, chief of police, or chief of the Colorado state patrol or a designated representative within the law enforcement agency shall effectuate the sale of such property for cash to the highest bidder at a public auction, notice of which, including time, place, and a brief description of such property, shall be published at least once in a newspaper of general circulation in the county wherein such official has authority or jurisdiction or, in the case of the Colorado state patrol, in the county wherein said public auction is to be held at least ten days prior to such auction.
C.R.S. § 42-13-103
This section is similar to former § 42-16-103 as it existed prior to 1994, and the former § 42-13-103 was relocated to § 42-11-103 .