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November 18, 2009

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Upmarket Madoff yachts set for auction

A VINTAGE 16.7-meter yacht named "Bull" and two smaller boats that once belonged to imprisoned financier Bernard Madoff are headed for the auction block.

An even bigger yacht once owned by Madoff's right-hand man is also for sale.

Madoff's 1969 Rybovich sportfisher, a wooden boat meticulously restored, was the prize offering at yesterday's private auction in Fort Lauderdale, Florida.

As of Monday, 29 people had put up a US$100,000 deposit for the right to bid and more were expected to register, according to the United States Marshals Service.

"People have heard of it. It's a piece of history," said Bob Toney, president and CEO of National Liquidators, which is handling the auction for the government.

Also for sale are Madoff's 11.5-meter runabout, named "Sitting Bull," and a 7.3-meter craft named "Little Bull."


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