They said they planned to put it in their office. Two bankruptcy lawyers, Tally Wiener and Steve Bereit, bought a tree stump that had been turned into an end table for $500. While the auctioneers sold some watches for less than their estimates, they pulled back a 1935 Rolex with an alligator strap, valued up to $54,000, after the bids failed to rise above $35,000. Hers is 5.Ī 1945 Rolex watch with a black dial that was sent to a returning prisoner of war had been expected to sell for as much as $87,000. She had planned to bid on a ring, but was disappointed to discover that Ruth Madoff’s ring size is 7. “But if it helps out the victims, it’s O.K.” “At first, I said I didn’t want anything those people owned it goes against my grain,” Ms. None of the bidders in the ballroom seemed to have a Madoff connection, although many seemed to know somebody who knew somebody like Mary Parker, a retired literature professor, whose Upper East Side apartment building was home to some of the victims. A spokesman for the Marshals Service, Roland Ubaldo, said about $1 million was raised. The proceeds were to go to the fund set up to pay restitution to those Mr. Many of them waited for several hours while the auctioneers, Gaston & Sheehan of Austin, Tex., first sold goods that had been seized in unrelated cases. “The more you can bid, the better off you are.”Īsked what he would tell his granddaughters when he gave them the bracelets, he said, “If it’s too good to be true, it’s not right.”Īt the peak of bidding, about 500 people vied for 189 lots, joining more than 1,000 others online. He added that he was pleased to help those people. Madoff but knew several people in Palm Beach who had lost money in his bogus investments. He said he would divide them among his daughters and granddaughters on a cruise to Mexico next weekend. Louis, bought that bracelet and 19 or so others, spending about $100,000. Lester Miller, 77, a businessman from St. The offers quickly shot over the maximum listed value of $1,000. The sale began about 2 p.m., with about a minute of spirited bidding for a gold charm bracelet with a whale, a lighthouse and a shell that belonged to Mrs. A bidder paid the same price for Lot 218: earrings of gold, silver and diamonds that had a maximum estimate of $21,400. 201, a pair of Art Deco onyx and diamond earrings from Cartier that had a price range of $6,500 to $9,800, sold for $70,000. Madoff’s wife, Ruth, however, sold for many times the values printed in the catalog for the auction, which was organized by the United States Marshals Service after it seized the items from the Madoffs’ homes in Manhattan, Palm Beach and Montauk, N.Y. Pieces of jewelry that had belonged to Mr. While the winning bids for those and other bits of flotsam from the convicted swindler’s life were far higher than the items’ estimated values ($500 to $700 for the jacket and $140 to $160 for the buoy), the bids for several Rolex watches were considerably below the listed estimates. Madoff was sold for $14,500 at a government auction at the Sheraton New York Hotel and Towers in Midtown Manhattan on Saturday, while a ring buoy from his yacht went for $7,500. A blue Mets jacket that once belonged to Bernard L.
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