Madoff Auction: Most Garish Yard Sale Ever
NEW YORK ( TheStreet) -- With the Bernie Madoff auction raising double the amount its ringleaders had hoped for on Saturday, the most prolific financial swindler in history was able once again to fetch surprising amounts.
One item alone came to symbolize the Madoff auction: a satin baseball jacket in New York Mets colors, with "Madoff" emblazoned across the back. Initially appraised at $720, the jacket ended up selling for more than 20 times that amount. Like many other objects that far surpassed their pre-auction valuations, the jacket seemed to appeal to collectors of the weird, themselves with lots of money to burn.
Other highlights from the Madoff auction included the Ponzi schemer's college class ring (Hofstra, 1960), which brought $6,000. It was initially valued at just $360.Two sets of diamond earrings once belonging to Ruth Madoff, appraised pre-sale at $9,800 and $21,400, sold for $70,000 each. It seemed that any item that bore the Madoff name took in more money than expected.
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