More than 400 pieces of personal property from Bernard and Ruth Madoff, including a diamond engagement ring and a Steinway grand piano, will be sold during a live and online auction in New York next month by the U.S. Marshals Service.
The property was forfeited and seized in connection with the criminal prosecution of Bernard Madoff. The proceeds from the auction will be used to compensate the victims of his multibillion- dollar Ponzi scheme.
One year ago, the first government auction of items seized from the Madoffs’ New York residences, expected to bring in $500,000, raised more than twice that. Roughly 200 items nearly sold out in four hours of brisk bidding.
The Nov. 13 session, to be held at the Sheraton New York Hotel & Towers in midtown Manhattan, will also include a desk and monogrammed black-velvet slippers.
The diamond engagement ring is 10.5 carats, according to the U.S. Marshals spokesman. He declined to comment on whether it belonged to Ruth Madoff. Dow Jones Newswires
