Madoff's Skivvies Fetch $200 at Auction
Sale raises $400K to go to victims
By Polly Davis Doig, Newser Staff
Posted Jun 5, 2011 12:02 PM CDT
A flag is seen from Bernard L. Madoff's estate before it is auctioned off on Saturday at the Miami Beach Convention Center on June 2, 2011.   (Getty Images)

(Newser) – It's questionable why anyone would pay $200 for used underwear, but the definition of "collector's item" sank even to that level yesterday as the contents of Bernie Madoff's Palm Beach mansion went on the auction block. “It’s history! It’s the big thing! It’s the biggest thing of the century!” said one bidder who lost Madoff’s honorary diploma from Yeshiva University. When the dust settled, the US Marshals' auction collected more than $400,000 for Madoff's duped investors—who are out $65 billion.

“It went about as expected,” the auctioneer tells the Miami Herald. “When we sold the stuff from his house in New York, it brought in millions, but that included boats and cars and jewelry. This one was mostly household goods." Click through the gallery to see some of what was sold.

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Showing 3 of 4 comments
Jun 5, 2011 10:48 PM CDT
I am having an half-off sale on lightly soiled undies; $5.50 and worn both inside and out. (saves on laundry)
Jun 5, 2011 8:57 PM CDT
Answer me this and forget the underwear. How did a Ponzi scheme that by definition can never hold up--hold up for three decades? How come every other Ponzi collapses within five years but this guy--made it all his adult life? Only collapsed cause the whole economy collapsed and people wanted their principal? Every thing in this country would collapse if everyone wanted their principal at once. Why didn't Goldman's collapse--oh, yeah we put in the cash for all the people pulling it out. But how did this guy keep it going--oh, he wasn't a Ponzi, he was a money launderer taking half a dollar from every illegal thing in this country and giving back 50 clean cents. Hello--Super Bowel? Drugs? Guns? CIA? All his investors got over ten percent year in and year out for decades. Did you get ten percent? I did in '78. Back when our economy was real and regulated and not now that it's free and fake a regular person could make a buck. I have to give the treasury money to take my money for a CD today. Back in the late 70's before Reagan was elected to destroy normal people I got a thousand in cash the day that I handed them the ten thousand. Know how quick you can make money like that? Well, so quick that Bernie's partners gave you Ronnie and screwed you back down to nothing. You don't have to believe history but you're entitled to it.
Jun 5, 2011 5:32 PM CDT
That's disgusting