Watches fail to impress at Madoff auction

First published: 16-11-2009

The modern world's most famous swindler has failed to cause a storm with certain items that once belonged to him at an auction this weekend.

At the auctioning of Bernard Madoff's personal effects, many failed to impress a certain demographic: watch buyers, who did not turn out for some of his more prized possessions.

Lots of his personal effects were sold off to the highest bidder this weekend in his former home of New York City, though one watch - a 1935 Rolex - had to be withdrawn from sale after it fell $19,000 (£11,400) short of its $54,000 (£32,300) valuation.

Another, a Rolex Monoblocco known as the Prisoner's Watch because the offerings were sold to British prisoners of war during the Second World War, only achieved $65,000 (£38,900).

Luckily, other things more than made up for it, with Madoff's signature Mets basketball jacket attracting 20 times its estimate, getting $14,500 (£8,670) instead of just $720 (£430).

Bernard Madoff, 71, is currently five months into his 150-year prison sentence for fraud.

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