Madoff's booze sells for nearly twice its value

AP News
Posted: May 19, 2011 8:28 AM
Madoff's booze sells for nearly twice its value

Bernard Madoff's collection of wines and spirits has sold at auction for almost twice its estimated value.

Proceeds of the sales will go to the disgraced financier's victims.

The pre-sale estimate for the 59 lots was $15,000 to $21,000. The collection ended up going for $41,530 at Wednesday's online auction.

A case of 1996 Chateau Mouton-Rothschild was the top lot, fetching $6,800, above the $3,200 to $3,800 pre-sale estimate.

Madoff is serving a 150-year prison sentence for masterminding a multibillion-dollar Ponzi scheme that robbed hundreds of victims of their investments.

U.S. Marshals seized the property to benefit Madoff's victims. They're holding an auction of the contents of his former mansion in Palm Beach, Fla., on June 4.



U.S. Marshals:

Morrell & Co. Fine Wine Auctions: