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More Madoff assets up for auction, Proxibid selected for online auction

November 3, 2010 by

Looking to pick up a pair of black velveteen slippers, size 8.5, with red quilted lining? (Left, photo courtesy of Proxibid.) The only catch, or possibly a positive for the buyer, they’re embroidered “BLM” for Bernard Lawrence Madoff, the former stock broker and investment adviser who is now incarcerated after admitting to a Ponzi scheme.

Next Saturday, November 13, 489 lots of assets belonging to Bernard and Ruth Madoff will cross the auction block online on Proxibid, the Omaha-based company which runs the world’s largest real auction marketplace. While the live auction will be taking place at the Sheraton New York Hotel & Towers, live online bidding will begin on Proxibid.com at the same time.

As a whole, the November 13th auction is the U.S. Marshals Service National Jewelry Auction. Proxibid was selected by Gaston & Sheehan Auctioneers Inc. to serve as the exclusive provider of the online bidding.

According to a press release, a previous auction of assets belonging to Bernie and Ruth Madoff facilitated by Proxibid had these impressive stats:

  • 47% sold to online bidders
  • 69% of all bids came from the internet
  • Online winning bids from Madoff’s assets totaled more than $324,000
  • The sale of the coveted Madoff Mets jacket sold to an online bidder for $14,500

If you are serious about those slippers, you’ll need to register to bid or pre-bid on Proxibid.com. When doing so, interested bidders must submit a $1,000 deposit by Thursday, November 11. Visit proxibid.com/gaston to learn more.

To see how Proxbid conducts its online auctions, see our post: How it’s done: Proxibid in action.

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