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More Bernie Madoff Loot Headed to the Auction Block

By Della Hasselle | September 24, 2010 3:26pm
Bernie Madoff's Mets Jacket sold at an auction for $14,5000 last year. Txauction.com will hold a second auction of Madoff loot on November 13.
Bernie Madoff's Mets Jacket sold at an auction for $14,5000 last year. Txauction.com will hold a second auction of Madoff loot on November 13.
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Getty Images/Mario Tama

By Della Hasselle

DNAinfo Reporter/Producer

MANHATTAN — Another round of goods collected from Ponzi-schemer Bernie Madoff’s Upper East Side penthouse will be sold at a live auction in November.

The treasures, seized by U.S. Marshals after Madoff's arrest, include a $39,000 Steinway grand piano and a $300,000 diamond ring from his wife Ruth’s jewelry collection, a law-enforcement source told the Post.

The auction will be held on txauction.com on Nov. 13, the New York Post reported.

This is the second auction of the former swindler’s possessions. The first auction, which included 200 items of jewelry, artwork and sports items, raked in close to $1 million, the Wall Street Journal reported. Among the items was a 1960 Hofstra College ring that sold for $6,000, 25 times its low estimate of $240, according to the Journal.

Ruth’s pre-Victorian era diamond earrings also brought in a lot of cash —  and some applause — at the 2009 auction when they sold for $70,000, or five times its low estimated cost, according to the Journal.

The Madoff items became government property in July 2009, after he was sentenced to 150 years in a North Carolina jail. There are 2,000 items that remain to be auctioned, the Journal reported.

All the proceeds will help pay back the victims of his $65 billion scheme.