Madoff Auction Offers Glimpse of Personal Life
Second of 3 Auctions Yields $900K
In case you missed it last year, the first government auction of Bernard and Ruth Madoff's belongings featured their many of their pricy personal belongings – watches, jewelry and fine furniture.
Not your typical garage sale!
Earlier this month a second auction was held at the New York Sheraton – this time including many less glamorous items – but definitely more intimate. In many ways it offered a glimpse of their personal lives and allowed bidders to “own” a piece of history.
On November 10th around 200 items, ranging from a half-used sticky pad to expensive jewelry, were auctioned off. Other items included socks, bed linens, cuticle scissors, makeup brushes socks, bed linens, cuticle scissors and makeup brushes. They include dishes, pens and stationery, boogie boards emblazoned with the 71-year-old's last name, and a Rolex nicknamed the "Prisoner Watch."
Very Personal Items
One of the most unusual items in that auction was a satin New York Mets baseball jacket with the name "Madoff" embroidered on the back. It sold for $14,500, compared with an initial estimate of $500. The most expensive item was a pair of diamond earrings worn by Ruth Madoff at a price of $70,000, more than quadrupling its estimated value.
The sale brought in $942,650 - nearly twice the $500,000 of the initial estimate. Proceeds from the auction go to a fund designated for victims of Bernard Madoff's fraud scheme.
The third and final auction is set for Florida at the end of the month where Madoff's yachts will be up for sale. Madoff's apartment on East 64th Street in Manhattan is also on the market for $9.9 million and the Florida home for $7.9 million; the Hamptons house sold last month for $9.41 million.
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