NEW YORK (TheStreet) -- A lot of people in this country want to get a piece of Bernie Madoff.Now, they can. And you can, too, if you hustle over to the Madoff auction at the Sheraton Hotel, on Seventh Ave. in Midtown Manhattan, where on Saturday the federal government is auctioning off nearly 200 pieces of conspicuous Madoff consumption, seized from the admitted swindler and his wife, Ruth, by U.S. Marshals. Photo Gallery: Madoff's Auction
When Madoff plead guilty and received his 150-year sentence, the punishment included the forfeiture of nearly all his and his family's wealth. The government will use the proceeds from the Madoff auction to make a miniscule dent in the tens of billions that Madoff's Ponzi scheme cost its many victims. Auctioneers are hoping to raise at least $500,000. Among the items on the Madoff auction docket: an enormous collection of Swiss-made wrist candy, including 17 Rolexes, seven Cartiers, a rare Oyster chronograph that could bring in $63,500, and a slew of other watches from Patek Phillipe, Frank Muller and Audemars Piguet.