Bernie Madoff’s Palm Beach Wine Collection, Furnishings to be Auctioned

Source: NY Post

Looking for a good bottle of fine wine? Forget scouring the shelves of your local wine store. Give back to the victims — Ponzi scheme victims, that is — and bid on Bernie Madoff’s extensive wine collection from Madoff’s Palm Beach home.

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Madoff is currently serving a 150-year sentence for creating a $65 billion Ponzi scheme. His current digs are an 8 x 10-foot cell in the Butner Correctional Complex in North Carolina. Previously, he owned three homes: a Montauk beach house (which sold first for $9.4 million), a Manhattan penthouse that sold in May 2010, and his Palm Beach home that recently sold for $5,650,000 (photos below).

Bit by bit, Madoff’s items have hit the auction block, starting with a Steinway grand piano, a diamond ring, and furniture, antiques and clothing from his Manhattan apartment.

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Live Auction for Wine, Furnishings

Next up are the possessions from his Palm Beach home. There are 59 wine lots, ranging from individual bottles to cases of 12, up for live bid tomorrow, May 18 starting at 7 a.m. (GMT), but don’t expect to see any Two-Buck Chuck in the lineup. While most of the lots of wine hit about the $200 to $400 price range, Madoff did own a lot of 1975 Chateau Petrus (12 bottles). Estimated worth for all of them? A whopping $48,000 to $60,000.

According to the description provided by Morrell & Company Fine Wine Auctions, the 1975 Petrus: “unfolds to reveal extraordinary richness, purity, and overall symmetry in addition to stunning flavor depth and persistence. The finish lasts for nearly a minute. An amazing achievement!”

The rest of Bernie Madoff’s Palm Beach home collection of art, antiques and furnishings will be part of a U.S. Marshals auction on June 3 and 4.

Bernie’s Brother Sells Home

In other Madoff-related news, according to the Palm Beach Post, Bernie’s brother Peter Madoff’s home just sold for $5.5 million after undergoing several price cuts. The 5-bedroom, 5-bath Palm Beach home, (pictured below), has been on the market since Peter Madoff’s wife Marion listed it in January 2011 for $6.5 million.


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