While Bernie Madoff is serving his 150-year sentence, who’s taking care of all his stuff? You can, if you want to. The U.S. Marshals Service asset-forfeiture division is auctioning off the Madoffs’ belongings and putting the proceeds toward a fund set up to help victims of his multibillion-dollar Ponzi scheme. Items were available for media viewing yesterday, but the second of three auctions will be held online this Saturday. According to appraisers, the auction is expected to raise $1.5 million.
We’ve talked about the benefits of online auctions in the past. Not only can it be less expensive and more convenient for the seller, a larger pool of buyers has access to the items. If you’re interested in conducting an auction to free up cash or if you’re trying to sell a business, contact us. We can appraise your items and facilitate the auction process with one of our partner auction houses.
And you may want to check out the Madoff auction just to see how the process works. We hear there’s a pair of monogrammed velveteen slippers up for grabs.
Present Value LLC is a nationwide appraisal and advisory company that provides a range of professional services such as Certified Machinery and Equipment Appraisals, Inventory Appraisals, Asset Verification Services, Business Valuations, and Real Estate Appraisals. Contact us today!
