Madoff Wine Collection Fetches Nearly $42K

Thursday, May 19, 2011  |  Updated 11:01 AM EDT
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Bernard Madoff & His Victims

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Bernard Madoff admitted in a guilty plea in 2009 that he was running a giant Ponzi scheme.

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Bernard Madoff's collection of wines and spirits has sold at auction for $41,530. That's almost twice its estimated value.

Proceeds of the sales will go to the disgraced financier's victims.

The online auction was held Wednesday. The pre-sale estimate for the 59 lots was $15,000 to $21,000.

A case of 1996 Chateau Mouton-Rothschild was the top lot, fetching $6,800, above the $3,200 to $3,800 pre-sale estimate.

Madoff is serving a 150-year prison sentence for masterminding a multibillion-dollar Ponzi scheme that robbed hundreds of victims around the world of their investments.

U.S. Marshals seized the property to benefit Madoff's victims. They're holding a live auction of the contents of his former mansion in Palm Beach, Fla., on June 4

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