What Madoff’s tag sale fetched
Winning bid:: $400,000
Alan Richardson, a Miami jewelry and collectibles dealer, spent about $400,000 on jewelry and luxury watches. He said prices were lower than at a smaller Madoff sale a year ago, also at the Sheraton New York Hotel & Towers. Proceeds from both go to a fund to benefit those who lost money in Madoff's scheme.“Prices are high for junk,” Richardson said. “The really good stuff wasn't expensive at all.”
Richardson said the Madoff provenance doesn't command much of a premium in the secondary market. “It's like owning Hitler's stuff,” he said. “He wasn't a good guy.”
[Photo: Bloomberg News]