Luxury shoes sold in further Madoff auction - footwearbiz: Leading sit

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Luxury shoes sold in further Madoff auction

22/11/2010
Last November, leatherbiz.com reported the auctioning of a collection of luxury handbags belonging to the wife of Bernard Madoff in New York. This year, another auction on 13 November, also in New York, saw the sale of more of the Madoffs’ possessions which accumulated to a total of $2 million. Among the lots were 10 pairs of designer shoes made in Italy, France, Belgium and England, which sold for $900.

There was also a leather foot stool depicting a bull—including a tail that had broken off—which went for $3,300, almost ten times its pre-sale high estimate of $360.

Mr Madoff was sentenced in June 2009 to 150 years in prison for carrying out a fraudulent investment operation; the auction raised money to help his victims.

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