Madoff Merch: Get It While It's Hot
A boatload of Bernie and Ruth Madoff's personal possessions go up for auction tomorrow. And the competition is expected to be fierce. According to the company handling the proceedings, 1,100 people have already registered to submit bids online. (Each had to hand over a $1,000 refundable deposit in order to participate.) And contrary to what you might have expected, Bernie's satin Mets jacket probably won't fetch the most money tomorrow.
Bernie's 1960 Hofstra college ring and his watch collection are reportedly attracting the most interest, and the highest pre-bid for a single item at the moment is for an 18-karat yellow gold vintage Rolex that's nicknamed the "Prisoner Watch." (It should sell for between $75,000 and $87,500.) It isn't named the "Prisoner Watch" because Madoff wore it in prison, by the way. (You don't get to wear gold Rolexes in prison, obviously.)
According to Bloomberg, the piece "gained its moniker because Rolex offered similar timepieces to prisoners of war in Germany during World War II, including those involved in 'The Great Escape.'" How's that for creepy?
