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A unique and interesting story has recently emerged involving the auctioning off of wine collections from two failed banks by a federal agency. Silicon Valley Bank and First Republic Bank’s wine collections were seized by the agency earlier this year, and have since been sold off in auctions. Heritage Auctions successfully acquired around 1,900 bottles from SVB for approximately $150,000, including fees, and also purchased over 400 bottles from First Republic’s cellar for close to $20,000. Interestingly, the auctioneer was able to secure the wines at a 40% discount to their market value, which is quite a deal.

This may seem like an unusual situation, but it is not the first time that the federal agency has ended up with unique and unconventional assets due to bank collapses. The Federal Deposit Insurance Corp. (FDIC), which guarantees deposits of up to $250,000 in a single FDIC-insured bank, collects dues from banks and sells assets it seizes in order to cover the costs of providing deposit protection. As a result, the FDIC has found itself in possession of a variety of specialty assets previously owned by banks.

According to a representative from the agency, some of the more peculiar items they have come across include 25,000 pounds of frozen rabbit, a 12% stake in the Dallas Cowboys in the 1980s, and even a cooler containing a human skull. The FDIC has also taken possession of company planes, pianos, aquariums, and derelict churches and synagogues. In one case, they even ended up with a coal mine that happened to be on fire on the same day its owner shut it down.

Jay Rosenstein, an employee of the agency, once wrote in an internal newsletter, “I guess you could say that the failed-bank side of the FDIC’s work reflects the diversity of the banking business, from earth to the heavens above.” This statement truly encapsulates the wide range of assets that the agency has come across in its line of work.

The recent auction of Silicon Valley Bank and First Republic Bank’s wine collections is just one example of the FDIC’s efforts to sell off seized assets. Another interesting find from the First Republic bank collapse included a 13-seater corporate jet, as well as a pair of nine-pound eagle figurines handmade in France from Baccarat crystal.

Although this story may seem strange and unusual, it highlights the unique situations that can arise from bank failures and the subsequent actions taken by federal agencies to secure and sell off assets. While most people may not associate frozen rabbits and human skulls with failed banks, it is a reality that underscores the diverse nature of the banking industry. So the next time you think of banking, remember that it encompasses everything from earth to the heavens above.