Ponzi Proceeds: Bidding On Madoff's Possessions
As the verdict is delivered in the trial of former employees of white collar con man Bernie Madoff, here is a look back at all of the Madoff family goods grabbed by the Feds following the arrest of the disgraced pyramid scheme architect in 2009.
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, were seized and auctioned off in 2009 by the U.S. Marshals.
Proceeds from the sale were set aside for victims of Madoff's Ponzi scheme, which began to unravel in late 2008. Some 200 included more than 40 watches, along with numerous bracelets, earrings, cuff links, rings, and fur coats, all symbols of the extravagant lifestyle led by the Madoffs until Bernard's arrest. Other, more mundane and frivolous items included wooden decoy ducks, customized stationary, pens, and Post-it notes, and two mementos 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 hand signed by artist Sherry Fink Muhs.
Gaston & Sheehan Auctioneers ran the auction for the U.S. Marshal's service.
Rolex Steel Watch - Lot 232
A professionally restored vintage Rolex watch with a black dial, white numbers and black alligator strap.
Platinum Bracelet - Lot 202
A platinum Edwardian-era diamond and emerald link bracelet.
Golf Set - Lot 298
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
Silver pre-Victorian era pear cut diamond dangle earrings.
"Bullship N.Y." Bouy - Lot 346
A white rescue ring bouy with the words "Bullship N.Y." hand painted on the front.
Pearl Necklace - Lot 209a
A 123-inch strand necklace of Baroque Akoya pearls and white plated rhinestone loop costume earrings.
Cufflinks - Lot 197
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
Men’s 18-karat gold vintage “Monoblocco” Rolex watch with a dark brown alligator strap.
Fur Coat - Lot 271
A Bill Blass brown mink coat.
Sculpture Set - Lot 287
Three wood primitive Indian mask sculptures.
Wooden Duck - Lot 292
A black and white wooden decoy duck.
Crocodile Purse - Lot 314
This black crocodile hand bag, made by purse maker Zagliani, has a suede and silk lined interior.
Boogie Boards - Lot 347
Three boogie boards with "Madoff" written in black marker.
Address Marker - Lot 348
An oval shaped wood yard sign with "BLM" and "216" written in black.
Stationary - Lot 349
White paper stationary with Bernie Madoff's New York City address printed on the envelopes.
Hofstra School Ring - Lot 366
Bernie Madoff's Hofstra College class ring from 1960.
Flatware - Lot 351
Set of Christofle flatware engraved with "RMB." In all, there are 178 total pieces.
Tourmaline & Diamond Ring - Lot 370
This 18-karat white gold Judith Ripka ring features diamonds and a pink tourmaline.
Boat Artwork - Lot 383
An original ink and pencil drawing of "Bull," Bernard Madoff's boat, signed by Sherry Frink Muhs.
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