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By: Oliver Quillia, Joseph Pisani | 10 Nov 2009 | 12:16 PM ET
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Ponzi Proceeds: Bidding On Madoff's Possessions
From an elegant diamond ring to a 1960 Hofstra class ring. A rare Rolex "Monoblocco" watch to a personalized New York Mets jacket. Luxurious furs to fishing rods. Bernard and Ruth Madoff's personal possessions, seized by the Feds earlier this year, will be auctioned this weekend.Proceeds from the sale will be set aside for victims of Madoff's Ponzi scheme, which unraveled nearly one year ago. Some 200 items up for bid include more than 40 watches, along with numerous bracelets, earrings, cufflinks, rings, and fur coats, all symbols of the extravagant lifestyle led by the Madoff's until Bernard's arrest in December 2008. Other, more mundane and frivolous items include wooden decoy ducks, customized stationary, pens, and Post-it notes, and two mementoes from Madoff's love of the seas: a buoy labeled "Bullship NY" and an original mixed media drawing of his boat, titled "Bull", commissioned by a captain and handsigned by artist Sherry Fink Muhs. Gaston & Sheehan Auctioneers is running the auction for the U.S. Marshal's service. You can bid online by registering through the auction company's website by Thursday, November 12 or attend the live auction Saturday, November 14, at the New York Sheraton Hotel and Towers. Posted 10 Nov 2009

Rolex Steel Watch - Lot 232
U.S. Marshals
A professionally restored vintage Rolex watch with a black dial, white numbers and black alligator strap.

Platinum Bracelet - Lot 202
U.S. Marshals
A platinum Edwardian-era diamond and emerald link bracelet.

Golf Set - Lot 298
U.S. Marshals
This set comes with a leather golf bag embroidered with the name South Fork Country Club, 28 used golf balls, a couple of golf clubs and three green and black crocheted head covers.

Diamond Earrings - Lot 218
U.S. Marshals
Silver pre-Victorian era pear cut diamond dangle earrings.

"Bullship N.Y." Bouy - Lot 346
U.S. Marshals
A white rescue ring bouy with the words "Bullship N.Y." hand painted on the front.

Pearl Necklace - Lot 209a
U.S. Marshals
A 123-inch strand necklace of Baroque Akoya pearls and white plated rhinestone loop costume earrings.

Cufflinks - Lot 197
U.S. Marshals
Two sets of cufflinks. On the left, an 18-karat gold pair with mother-of-pearl and blue sapphires. On the right, 14-karat white gold blue stat sapphire and diamond cufflinks.

Rolex "Monoblocco" Watch - Lot 237
U.S. Marshals
Men’s 18-karat gold vintage “Monoblocco” Rolex watch with a dark brown alligator strap.

Fur Coat - Lot 271
U.S. Marshals
A Bill Blass brown mink coat. 

Sculpture Set - Lot 287
U.S. Marshals
Three wood primitive Indian mask sculptures.

Wooden Duck - Lot 292
U.S. Marshals
A black and white wooden decoy duck.

Crocodile Purse - Lot 314
U.S. Marshals
This black crocodile hand bag, made by purse maker Zagliani, has a suede and silk lined interior.

Boogie Boards - Lot 347
U.S. Marshals
Three boogie boards with "Madoff" written in black marker.

Address Marker - Lot 348
U.S. Marshals
An oval shaped wood yard sign with "BLM" and "216" written in black.

Stationary - Lot 349
U.S. Marshals
White paper stationary with Bernie Madoff's New York City address printed on the envelopes.

Hofstra School Ring - Lot 366
U.S. Marshals
Bernie Madoff's Hofstra College class ring from 1960.

Flatware - Lot 351
U.S. Marshals
Set of Christofle flatware engraved with "RMB." In all, there are 178 total pieces.

Tourmaline & Diamond Ring - Lot 370
U.S. Marshals
This 18-karat white gold Judith Ripka ring features diamonds and a pink tourmaline.

Boat Artwork - Lot 383
U.S. Marshals
An original ink and pencil drawing of "Bull," Bernard Madoff's boat, signed by Sherry Frink Muhs.Related:Gaston & Sheehan AuctioneersMichael Jackson's Life & Career, the Auction

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