Although his name was never mentioned during the event, the Bernie Madoff Auction was held at the Waterfront Inn on Monday. Auctioneer Gabe Ashton declared this the toughest room he has ever worked in his 18 years in the business. People were getting some very good deals on original art work and fine jewelry.
More than 50 people showed up for the preview; about 30 stayed for the auction. As people perused the art, they stickered anything of interest and these were the pieces brought up for auction. All of the art is verified and most of the art had letters of authentication attached as did the jewelry. Some of the prints and paintings were still sporting the seized by the FBI stickers on the back.
The artwork was a mix of seized assets and general merchandise. Ashton reached out to victims of the Madoff Ponzi scheme when he heard about people taking their art to pawn shops. Money earned from these items goes directly back to the victims.
“I don’t want it to sound like I did it just to be a nice guy,” said Ashton. “There was something in it for me too. The name brings customers to the auctions. But it is nice to be able to do something that makes you feel good.”
Before the auction started, Ashton pointed out to the attendees the two most valuable pieces available at Monday’s auction, two paintings – one by Mathias Goeritz and one by Steve Penley. As the auction got underway; the low prices continued to stun the auctioneer. He just continued to say “Wow” as each piece was sold. Lithographs by Chagall and Matisse, a woodblock by Dali, and other items by well-known artists were going for hundreds instead of thousands of dollars. As one collector who asked not to be named put it, “There are some really good buys in there today, some really good stuff.”
As the higher priced items came up such as the Penley and Goeritz paintings, they were withdrawn because a competing bid was not offered. Penley, one of America’s most celebrated artists, has created projects for Fox News, major companies such as Coca-Cola, AirTran/Southwest, Kaiser Permanente, as well as several U.S. Presidents. His painting in this auction a very bold red painting of a $100 dollar bill “just wouldn’t look right over my sofa,” noted an attendee.
Things picked up when the jewelry was introduced. People were still getting very good deals, but there was more competition. Village of Lake Deaton resident Mel Stieglitz was thrilled with the beautiful amethyst, topaz and diamond ring her husband Dick bought, “just because she is such a special gal.” “The price, around $3,000, is a good deal,” said Dick. A diamond crusted Rolex sold for over $8,000. Another Rolex sold for just under ten thousand.
According to Ashton, every day is a different day in the auction business. He said he would like to try the Villages again, but next time not on a Monday.
