Auction Of Madoffs Diamond Jewellery

Published on 16/11/09

A crowd of 50 jostled to get a look at 14-carat diamond earrings, a platinum, diamond and emerald bracelet and close to 200 other items, as U.S. Marshals prepared for an auction from the estate of convicted Ponzi scammer Bernard Madoff.

Proceeds from the auction, which begins at 10 a.m. Saturday at the Sheraton New York Hotel, will benefit victims of Madoff's $65 billion scheme.

Click here for complete Blotter coverage of Madoff and his Ponzi scheme.

"Don't you dare bid on that," said Laura Deauchesne, looking at item 314, a black crocodile leather purse from Zagliani. Deauchesne had come all the way from California for the auction. "It's a historical and charitable event because it benefits the victims, so I would feel good about spending here."

"We already have 1,000 online bidders registered and we expect a few hundred live bidders tomorrow," said U.S. Marshal Roland Ubaldo. Registration for the auction is now closed.