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Madoff Auction Nabs $1M

Yours for only $6K—schemer's college ring

By Polly Davis Doig,  Newser Staff

Posted Nov 15, 2009 9:27 AM CST
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(Newser) – Those pining for a little piece of Ponzi-scheme history ponied up more than a million bucks yesterday for disgraced financier Bernie Madoff's stuff—more than doubling the $500,000 take expected. The proceeds from the 200-some items goes toward repaying Madoff's victims, reports the Wall Street Journal in a rundown of the results:

  • Pair of platinum Art Deco Cartier onyx and diamond earrings went for $70,000, more than 10 times its low estimate.
  • Madoff's satin Mets jacket, which had a low estimate of $500, sold online for a whopping $14,500.
  • Three wooden duck decoys, valued between $53 and $80, fetched a total of $11,500.
  • Madoff's 1960 Hofstra College ring, with a low estimate of $240, went for $6,000.
  • A men's vintage Rolex Oyster with a low estimate of $54,000, didn't sell after failing to attract the $35,000 minimum.

A water rescue ring buoy painted with Bullship NY sold for $7,500. Its low estimate was $140.
A water rescue ring buoy painted with "Bullship NY" sold for $7,500. Its low estimate was $140.   (AP Photo/Richard Drew)
Antique fishing rods that hung on the wall of Bernard Madoff's study in his Palm Beach, Fla. home.
Antique fishing rods that hung on the wall of Bernard Madoff's study in his Palm Beach, Fla. home.   (AP Photo/J Pat Carter)
A satin NY Mets baseball jacket that once belonged to imprisoned financier Bernard Madoff is shown. The jacket was valued at between $500 and $700.
A satin NY Mets baseball jacket that once belonged to imprisoned financier Bernard Madoff is shown. The jacket was valued at between $500 and $700.   (AP Photo/U.S. Marshals Service)
Bernie Madoff's New York Mets jacket in New York, Friday, Nov. 13, 2009. Almost 200 items seized from the fallen financier's homes were sold, from furs, dishes and stationery to a historic Rolex.
Bernie Madoff's New York Mets jacket in New York, Friday, Nov. 13, 2009. Almost 200 items seized from the fallen financier's homes were sold, from furs, dishes and stationery to a historic Rolex.   (AP Photo/Richard Drew)
A silver pre-Victorian era diamond earrings and a platinum Edwardian-era diamond & emerald link bracelet in New York, Friday, Nov. 13, 2009.
A silver pre-Victorian era diamond earrings and a platinum Edwardian-era diamond & emerald link bracelet in New York, Friday, Nov. 13, 2009.   (AP Photo/Richard Drew)
The personalized stationary of Bernard Madoff and wife Ruth Madoff, along with pens showing the logo Bernard L. Madoff Investment Securities.
The personalized stationary of Bernard Madoff and wife Ruth Madoff, along with pens showing the logo "Bernard L. Madoff Investment Securities."   (AP Photo/Richard Drew)
Some of the almost 200 items seized from fallen financier Bernard Madoff's homes, from furs, dishes and stationery to a historic Rolex made for Allied prisoners during World War II.
Some of the almost 200 items seized from fallen financier Bernard Madoff's homes, from furs, dishes and stationery to a historic Rolex made for Allied prisoners during World War II.   (AP Photo/Richard Drew)
A luggage tag on a golf bag belonging to Bernard Madoff.
A luggage tag on a golf bag belonging to Bernard Madoff.   (AP Photo/Richard Drew)
A vintage Rolex Monoblocco chronograph wristwatch, also known as the Prisoner Watch, made for Allied prisoners during World War II.
A vintage Rolex "Monoblocco" chronograph wristwatch, also known as the "Prisoner Watch," made for Allied prisoners during World War II.   (AP Photo/Richard Drew)
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COMMENTS
Showing 2 of 2 comments
cochiserocks
Nov 15, 2009 11:28 AM CST
My natural green eyed monster aside - I'd say having everything taken away from you in what has legally been proven to be a dishonest, misleading and criminal manner would make those on the receiving end 'victims' yes. I agree it is an overused term nowadays - but I looked it up: Victim - a person who is deceived or cheated, as by his or her own emotions or ignorance, by the dishonesty of others, or by some impersonal agency: a victim of misplaced confidence; the victim of a swindler.
cochiserocks
Nov 15, 2009 5:23 AM CST
A drop in the ocean if you were a victim on this scam.

 
auction • Ponzi scheme • Bernard Madoff • Bernard L. Madoff Investment Securities

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