If such debt remains unpaid for 12 months or more, then the jeweler, watchmaker, or silversmith may sell such article at private or public sale after 10 days' notice and the proceeds, after first paying the expenses of the sale shall be applied on the payment of the debt, the balance, if any, to be held for the debtor. If the debtor's residence is known, notice in writing must be given the debtor of the amount due and the time and place of the sale before said sale, notice to be mailed to his street address. If the debtor's residence is unknown, notice must be given by posting in the county courthouse of the city, town, or village where the jeweler, watchmaker, or silversmith resides, or the courthouse nearest thereto, statement that the sale will be made, setting out the time, place, and article or articles to be sold and the name of the debtor.