The Lux List / Billionaires

Bernie Madoff’s luxury life on auction

Three boats previously owned by jailed financier Bernard Madoff, that was sentenced in June to 150 years in prison, will be auctioned off in Fort Lauderdale on November 17. Among the boats to be sold are a 55-foot, 1969 Rybovich luxury fishing boat called Bull that’s said to be worth about $2.2 million and Little […]

Sep 10, 2009 | By Francesca

Three boats previously owned by jailed financier Bernard Madoff, that was sentenced in June to 150 years in prison, will be auctioned off in Fort Lauderdale on November 17.

Among the boats to be sold are a 55-foot, 1969 Rybovich luxury fishing boat called Bull that’s said to be worth about $2.2 million and Little Bull, a 24-foot center-console boat.

“We anticipate strong interest in the auction,” Matt Amata, vice president of National Liquidators, said in a statement Wednesday.

“We’ve heard from several potential bidders, who are interested in both the quality and notoriety of purchasing a ‘piece of history.’ “



Otherwise the U.S. Marshals Service will put the 1.2-acre lot sits closer to the surf than larger neighboring homes on the southeastern tip of Long Island on the market this week as part of an ongoing effort to pay back burned investors.

They also plan to enlist brokers soon to find buyers for a Manhattan apartment and a Palm Beach, Fla., estate.

In estimates federal regulators filed last year, Madoff himself valued his Manhattan apartment at $7 million and the Florida property at $11 million.

He said the Montauk beach house, which he bought in 1979, was worth $3 million. Federal authorities believe the seaside property could bring closer to $8 million.

“Our goal is to place the homes on the market soon to minimize the amount of time they remain in our inventory and maximize the return to the victims,” U.S. Marshal Joseph R. Guccione said.


 
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