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Bernie Madoff Auction Results

Disgraced financier Bernard L. Madoff

Disgraced financier Bernard L. Madoff

Here’s a quick summary of the outcome of the recent NY auction sponsored by the US Marshals Service of some of the assets seized from Bernie Madoff.

Overall, the auction fetched about twice what was expected in estimates but notably some of the vintage Rolex models like the “Monoblocco” failed to meet estimates as I predicted.  As most of the vintage offerings had been restored, redialed etc. the allure for collectors was diminished and they failed to bring the pricing that might have been expected in other circumstances.  Apparently the fame and notoriety of the Madoff name wasn’t enough to make up for the fact that the watches were otherwise unremarkable and lacking in genuine taste.

The utter banality of evil…

Link:  Daily Mail – “Doing time: The incredible watch collection of disgraced financier Bernard Madoff goes under the hammer

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