Madoff Wine Auction Raises $41,530

Decanter reports that the Madoff wine auction by Morrell & Company raised over $41,000. The proceeds will benefit the victims of Madoff’s infamous ponzi scheme, for which he is serving 150 years in prison.

Surprisingly, a billionaire such as Madoff only had a handful of collectible bottles (such as top growth Bordeaux). Also surprising, auction bidders went above and beyond the value of each item. Other sources have reported that bidders often paid double for simple, easy-to-find items such as everyday decanters. As the auction director put it, it’s most likely people looking to find a talking piece. I like to think they were giving back to those who lost a lot more than 150 years in prison.

Decanter article here.

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