Government auctions spoils of Madoff’s lavish life in NY | NevadaAppeal.com

Government auctions spoils of Madoff’s lavish life in NY

NEW YORK (AP) – Anyone wanting to walk in the shoes of fallen financier Bernard Madoff was in luck Saturday: Thousands of belongings from his New York City penthouse, including his used shoes, went on the auction block.

An anonymous bidder paid the highest price of the auction – $550,000 – for a 10.5-carat diamond engagement ring that belonged to Madoff’s wife, Ruth. The winning bid topped the $300,000 minimum pre-sale estimate.

Ruth Madoff’s French diamond earrings fetched the next highest price. Valued at $100,000 to $137,500, they went for $135,000 to an undisclosed buyer.

The man who became a symbol of greed and deceit on Wall Street also had a lavish collection of watches. One of his vintage steel Rolex “Moon Phase” watches sold for $67,500, topping a $60,000 minimum estimate.

The sale started Saturday morning at the Sheraton New York Hotel & Towers, with an auctioneer from Texas-based Gaston & Sheehan rattling off lots at a tongue-twisting speed for more than six hours.