Auction of the Ponzi king's Diamond Jewelry Raises $1 million

The talented Mr. Madoff, who is currently serving a 150-year sentence for his multi-billion-dollar fraud, was an avid collector of vintage watches. Despite his busy schedule, he took time each morning to match his diamond wedding ring with one of his 17 Rolexes, 7 Cartier watches and tickers from Patek Philippe, Audemars Piguet and Franck Muller, including the Oyster chronograph. Estimated to fetch as much as $63,500, an Oyster chronograph watch and assorted ashtrays once used by Bernard and Ruth Madoff has been auctioned at the Sheraton New York Hotel & Towers to benefit the victims of the Ponzi scheme. The personal belongings of convicted fraudster Bernard Madoff sold for nearly $1 million were taken from the couple’s properties – a penthouse in Manhattan, and houses in Montauk, New York, and Palm Beach, Florida.

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