NEW YORK (AP) — Items once belonging to Wall Street swindler Bernard Madoff (MAY'-dawf) and his wife have been sold in New York City for a total of about $1 million, twice as much as auctioneers had hoped for.
The fallen financier's blue satin New York Mets baseball jacket with his surname stitched on the back was valued at up to $720 but sold for $14,500. Two pairs of Ruth Madoff's diamond dangle earrings sold for $70,000 each, far beyond their pre-sale estimates of $10,000 and $21,000.
The most highly prized item in the sale was Bernard Madoff's Rolex watch, estimated to sell for about $80,000. An anonymous buyer picked it up for only $65,000.
Madoff is serving 150 years in prison after pleading guilty in a multibillion-dollar fraud that burned thousands of investors.
Proceeds from the auction will be divided among his victims.
___
On the Net:
Madoff auction catalog: http://www.txauction.com
Madoff auction online: http://www.proxibid.com
To add a comment, please register or login.