What’s a piece of Bernard Madoff worth? A Saturday auction of personal items that once belonged to the Ponzi schemer gave a few clues.

While potential bidders and curiosity seekers milled around the ballroom of the Sheraton New York Hotel and Towers early in the day, there were as many empty chairs as full ones. Among the items on the block were a boogie board with Madoff’s name scrawled on it, monogrammed stationary and Madoff’s insignia ring from Hofstra. The items, about 100 in all, were mixed in with another 400 pieces of jewelry and other articles seized by the U.S. Marshals Service.

Proceeds from the event, staged by Gaston and Sheehan Auctioneers, will go into a forfeiture fund overseen by the Department of Justice. The auction was expected to raise an estimated $500,000 which ultimately will be distributed to cheated investors.

Images of the Madoff-abilia were projected up onto oversized screens, and often seemed random. One lot, with a pre-sale estimate of $42 to $48, included a duffle bag, umbrella and cigar box. Another, with the boogie board, a fishing tackle box and some lures, had an estimate of $80 to $90. There was also a charm bracelet with an estimate of $700 to $1,000.

Bob Bergsten, 47, was there to bid for a Rolex unrelated to the Madoff case, but was not upbeat about his chances. “The stuff that’s not his is getting bid up anyways,” said the New York CPA.
Some who were there:

Brian Kasper, 40, car dealer
Sandusky, Ohio
Has his eye on: “Anything that has his initials or name on it.”
Budget: $30,000
Why: “It’s like being able to buy Al Capone’s gun. It’s a once-in-a-lifetime shot to get a piece of history.”

Michael Graham, 17, student
Minneapolis, MN
Has his eye on: Decorative rescue ring painted “Bullship NY”
Budget: $1,000
Why: “It’s a good symbol of the recession. I plan to hang it in my room.”

Dave Goodboy, 44, marketing executive
New York, NY
Has his eye on: Duck decoys
Budget: $2,500
Why: “Madoff represents part of what’s wrong with Wall Street, part of the history of Wall Street. I want a piece of it.”

Louis Carmo, 44, hotel owner
New York, NY
Has his eye on: Bull and bear cuff links
Budget: “A few thousand”
Why: “He pulled off the scam of a lifetime. Even though it’s fresh now, down the road it’ll be more valuable.”

Bashkim Ardoli, 27, sales manager
New York, NY
Has his eye on: Personalized Mets jacket
Budget: Up to $10,000
Why: “He conned people out of more than $50 billion, and that’ll never happen again. I just want that jacket. My company has season tickets, so I’d wear it to the games.”

By Jami Makan

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