Madoff assests auctioned in New York to pay back to victims

NEW YORK: Items once belonging to Bernard Madoff, America's biggest fraudsters of all time, and his wife fetched nearly $1 million at an auction, proceeds of which will go to the fund set up to pay back to his victims.

The sale brought in $ 942,650 - nearly twice the $500,000 initial estimate, but it represents a mere fraction of estimated $ 21 billion he stole.

Some items, including his Mets baseball jacket and his wife's diamond earrings, fetched over 20 times their estimated value, New York Times reported.

Two pairs of his wife Ruth's Victorian diamond earrings went for $70,000 each - much more than their expected price.

The top-priced item was Bernard Madoff's Rolex watch, estimated to sell for about $80,000, was picked up for $65,000.

The less glitzy Swatch watches - seven in all - expected to go for just $100 - went for $850 instead.

In all, about 200 items were sold, from furs and fishing tackle to dog bowls, vases and Hermes handbags.

Madoff is currently serving a 150-year sentence for a multi-billion dollar fraud.

More of his ill-gotten gains will be offered at other sales, according to the US Marshals' asset forfeiture division.