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September 10, 2009

Bernie's boats go on the block

BULL

National Liquidators will auction off three vessels previously owned by convicted Ponzi swindler Bernard Madoff on Tuesday, November 17, 2009 at 4:00 pm. The auction will be held at National Liquidators' headquarters, 1915 Southwest 21st Avenue, Fort Lauderdale.

The United States Marshals Service seized the vessels on April 1, 2009, immediately turning the assets over to National Liquidators for maintenance and disposal. National Liquidators is conducting the auction as the exclusive sales agent for the vessels as a part of the company's contract with the U.S. Marshals Service. The U.S. Marshals Service is responsible for the management and disposition of Bernard and Ruth Madoff's assets, and for collecting sales proceeds of the assets, which will be used for victim restitution.

Madoff Assets being sold are:

"Bull" -- 55 foot 1969 Rybovich Sportfish [Stock #21082]

"Sitting Bull" -- 38 foot 2003 Shelter Island Runabout Sport [Stock #21085]

"Little Bull" -- 23 foot 2000 Maverick Boat Co. 2400 Center Console [Stock #21083]

1999 Mercedes Benz CLK 320 convertible with 12,827 miles

Additional U.S. Marshal Service Vessel (seized from a Madoff associate):

"Dorothy Jo" -- 61 foot 2003 Viking Sport Fish Powerboat [Stock #21385]

The auction also will feature three yachts offered for sale that are unrelated to the Madoff case: a 2008 Novatec 74 foot Euro Pilothouse, a 2004 Uniesee 68 foot Sport Motor Yacht and a 94 foot Devo Mill luxury yacht.

"We anticipate strong interest in the auction," according to Matt Amata, vice president of National Liquidators. "We've heard from several potential bidders, who are interested in both the quality and notoriety of purchasing a 'piece of history' in the Madoff and Madoff associate boats. We also have three additional wonderful yachts in the auction that represent incredible opportunities to purchase a high-end yacht in a truly unique setting."

Bidders are required to pre-register for the live auction, and may obtain registration information at www.yachtauctions.com/madoff. Attendance at the auction will be restricted to pre-registered bidders and invited guests.

National Liquidators is the largest vessel recovery, custody and remarketing company in the U.S. The company provides services for lenders, government agencies, marine dealers, marine manufacturers, attorneys, insurance companies as well as individual sellers.


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