Own a piece of Bernie Madoff

Want to own a piece of Ponzi scheme history? Buy some of Bernie Madoff's belongings at auction this Saturday.

By InvestorPlace Nov 10, 2009 6:22PM

Bernard Madoff © Daniel Acker/Bloomberg News/LandovBy James Dlugosch

Call it an investment -- celebrity goods often go up in value -- or a little revenge, since bargains will no doubt be had.

This Saturday, Gaston & Sheehan Auctioneers in New York will be liquidating an array of Bernie Madoff's personal belongings, to anyone who registers and can pay up for a piece of Ponzi scheme history.

Among the items for sale are a New York Mets jacket with Madoff’s name on the back.

 

And there's a little irony in at least one item: a rare and vintage Rolex Monoblocco chronograph that's also known as the “prisoner watch.” It could bring as much as $100,000 to the U.S. Marshals Service, which is charged with liquidating the estate.

The auction catalog (.pdf file) lists enough watches, chains and other baubles to fill several stores, as well as paintings, silverware, dishes and any number of golf clubs. If you're looking for something bigger, the Marshals are making plans to sell Madoff real estate and yachts, too.

So can we call these investments? Definitely.

Obviously, there's finite supply of these goods. While Madoff is likely in prison for the rest of his life and out of the spotlight, his notoriety will outlive him.

If this sounds attractive, I would suggest looking at the auction guide and trying to get in on the bidding. Those who buy at auction stand to make the biggest gains.

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