Infamous Bernie Madoff’s treasures, including a quarter-million-dollar diamond necklace, Picassos and Pissarros, a guitar signed by Bono, Springsteen and other rock idols will be auctioned on January 1 in Gaithersburg, MD outside Washington, DC.
Proceeds from the latest of several auctions of government-seized Madoff items will go toward compensating more than 3,000 victims Madoff defrauded in his $65 billion Ponzi scheme. He is serving a 150- year federal prison sentence.
Items in the New Year’s Day auction include:
— a more than 52-carat diamond/18-carat gold necklace, estimated value $249,500
— a rare 18 carat diamond Piaget watch
— a 10 carat loose diamond, and assorted other ruby, sapphire, and emerald baubles
— works by Matisse, Cezanne, Toulouse-Lautrec, Dali, other 19th and 20th century artists
— Persian and other fine rugs…
— “belly button jewelry”, among more than 400 items described in the auction catalogue for two November 2010 sales of Madoff items seized at his Manhattan penthouse and Montauk, NY estate.
— used underwear, among hundreds of items auctioned last June in Miami Beach, after being seized from Madoff’s Palm Beach mansion.
Why Gaithersburg? As soon as US officials answer my question, I’ll let you know.
For more info: Auction January 1 at 2 PM, viewing at 1 PM, Gaithersburg Marriott Washington Center, 99751 Washington Blvd., Gaithersburg, MD, 571-384-5824.