20 November 2009

Singer Snags Six Easy Pieces At Madoff Auction

National Jeweler Network

The Singer Collection, an expert in antique and 20th-century jewelry, has acquired six pieces that once belonged to infamous Wall Street swindler Bernie Madoff.

Madoff, who is serving a 150-year sentence after pleading guilty to a multi-billion fraud that burned thousands of investors, and his wife, Ruth, had a number of their possessions put up for auction on Nov. 14 in New York City.

The Singer Collection entered winning bids for six items, according to a press release from the New York-based company.

They include Art Deco-style platinum, diamond and onyx link bracelets, ebony and gold loop earrings by designer David Webb, Chaumet Paris bangles and a Victorian tassel lariat chain.

"Oftentimes, a notorious provenance will create a greater buzz than other celebrity pieces," Singer Collection President Stuart Singer said in the release. "So I am very excited to have purchased pieces that will certainly add 'spice' to our estate jewelry collections!"

The Singer Collection wasn't the only company to walk away from the auction with a few of Bernie's baubles.

According to The Associated Press, two pairs of Ruth Madoff's diamond dangle earrings sold for $70,000 each at the auction, well exceeding pre-sale estimates of $9,800 and $21,400.

Another buyer paid $65,000 for Madoff's Rolex, which was below estimates of $80,000.

In addition, the AP reports that Madoff's blue satin New York Mets baseball jacket with his surname stitched on the back was valued at only $720 but snagged a whopping $14,500 at auction.

All proceeds from the auction will benefit Madoff's victims, according to the AP.

No comments:

Post a Comment