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
Madoff Auction Nabs $1M
A water rescue ring buoy painted with "Bullship NY" sold for $7,500. Its low estimate was $140.   (AP Photo/Richard Drew)

(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.
(Read more Bernard Madoff stories.)

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