Bernie Madoff's Prized Possessions Up For Auction

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Bidders will have the chance to dip into the lifestyle of convicted Ponzi schemer Bernie Madoff, when a collection of his prized possessions are put up for sale.

Among the goods to go under the hammer are a Steinway & Sons grand piano, a woman's ring with a 10.54-carat diamond and a miniature bronze bull, USA Today reported.

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"These pieces are the last of what once occupied the homes and lives of Bernard and Ruth Madoff", said Joseph Guccione, the U.S. Marshal for the Southern District of New York.

The money raised from the sale will go towards compensating victims of Madoff's multi-billion dollar fraud. More than 400 items will be auctioned.

Last year, a sale of other Madoff items, including a New York Mets baseball jacked with Madoff's name on the back, raised about $1 million. Authorities also hope to raise more than $23 million by selling Madoff's real estate.

Still, the proceeds are tiny compared to the claims. As of Oct. 15, a court-appointed trustee has allowed nearly $5 billion in claims by Madoff's victims, who included many charitable foundations and wealthy individuals.

Madoff himself is serving a 150-year prison term.
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