Convicted Ponzi-schemer Bernie Madoff wasn't a cheap man. Even though he was far from a booze enthusiast, apparently having a well-stocked and extensive stash of wine and fine liquor is just a byproduct of having way too much money (other people's, in this case) than one knows what to do with. Though, he wasn't above guzzling down the cheap stuff either. Like most of his assets the liquor stash was seized by the feds in 2009, and his booze collection is going up for auction in Miami on June 4.
Madoff's collection had a lot of very fancy boozes, but it's far from the the greatest collection Morrell Wine Auctions, who will be handling the bidding, has ever seen. In fact, they hope their association with Madoff boosts prices higher than the actual quality of the liquid assets.
"As artifacts of history they are unique, which is why we have chosen to offer all of the bottles seized, including those which normally wouldn't pass muster and make it into our auction," reads a press release announcing the auction. "Some of the bottles are better viewed as conversation pieces rather than valued for their contents, but conversation pieces they are."
Morrell will even auction off 2-ounce bottles of Smirnoff vodka, Bombay Gin and Grand Marnier liqueur. That's the kind of stuff you can find in a hotel minibar.
"He was clearly not a connoisseur, or a serious wine collector," said Kimberly Janis, director at Morrell, told Bloomberg News.
While snooty wine snobs are surprised Madoff didn't exclusively traffic in the good stuff, he did have a case of 1996 Bordeaux, Chateau Mouton-Rothschild which could go for $3,200 to $3,800. So it's not all crap.
The online-portion of the auction will begin tomorrow on Morrell's site. According to CNN Money, a live auction will be held in Miami on June 4. Proceeds will go to Madoff's victims.
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