Auctioneers did better than expected during a sale of items that once belonged to Bernard and Ruth Madoff. The Saturday auction in New York, run by Gaston & Sheehan, netted $1 million for Madoff victims.
The auction is part of a series of sales of Madoff property. The Madoffs’ real estate properties in New York and Palm Beach remained on the market as of Nov. 11 and an auction will be held Tuesday in Fort Lauderdale.
Saturday’s sale included items from their homes that were seized by the U.S. Marshals Service. Among the items at auction were Bernard Madoff’s blue satin New York Mets jacket, which commanded $14,000; a Hofstra College ring, which fetched $6,000; his golf irons, which netted $3,600; and two pairs of Ruth Madoff’s diamond earrings, which were sold for $70,000 each.
If I had been in New York, I would have bid on his clubs and, assuming I was successful (unlikely at these prices,) I would have taken them home and played with them on my $18 green’s fee course. I’m sure the Shiny Sheet would have loved to have put a photo of this old Palm Beacher on a mangy golf course with Madoff’s clubs on the front page (LOL!)