Madoff Auction Makes $2M

If ever you had a desire to buy a pair of Bernie Madoff’s cuticle scissors … you missed your chance. More of the Ponzi schemer’s stuff, including, yes, cuticle scissors, was auctioned off yesterday. The sale grossed more than $2 million—quite a bit more than the $1.2 million that was predicted. Among the thousands of belongings that hit the auction block: Ruth’s engagement ring ($550,000) and diamond earrings ($135,000), a vintage Rolex watch ($67,500), and a leather bull foot stool ($3,300—even though the tail broke off).

The US Marshals Service also put together lots of somewhat stranger items, including everything from slippers, pantyhose, and monogrammed boxer shorts (11 pairs for $1,700!) to bed linens, socks, and shampoo. The first Madoff auction, held last year, made $1 million. The third and last auction will be held in Florida, the AP reports. Proceeds from all the auctions as well as the sale of his yacht, boats, $5.5 million Palm Beach home, and $8 million Manhattan penthouse will go to the more than 3,000 victims of his Ponzi scheme. For more on the auction, click here.
(More Bernard L. Madoff Investment Securities stories.)