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Patrick Sciacca's blog

$2 Million for Madoff's Yachts

Bernie Madoff, the admitted ponzi-scheme king,had his yacht fleet sold today via the U.S. Marhsall's office and National Liquidator's auction facility in an effort to raise capital to pay back investors he bilked for billions. According to a report from the Times Online, Madoff's boats, which included a 55-foot Rybovich named Bull (seen below), 38-foot Shelter Island runabout, a 61-foot Viking Convertible (owned by convicted Madoff associate Frank Dispacali), and 24-foot center console garnered about $2 million by the time the final gavel came down.

That Rybovich sold for $700,000, while the 38-footer went for an estimated $320,000. The center console brought in $21,000 while the big payday of the day came from the Viking, which slid out the door for $950,000. About 70 bidders, each of whom put up $100,000 for the right to grab a piece of white-collar-crime folkore, competed for the vessels.

 

 

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About patrick_sciacca

Patrick started on boats at the age of two on his father’s 31-foot Downeaster, and spent most of his childhood fishing the waters off the south shore of Long Island. An avid offshore angler and regular tournament participant, he’s a steady visitor to the East Coast canyons onboard his 31-foot Ocean Master Expeditor and the 43 Viking Blinky III. Patrick’s also fished the waters of Mexico, Costa Rica, North Carolina, South Florida, Jamaica, and the BVI for everything from blue, white, and striped marlin to swordfish and giant tuna. The family’s seafaring tradition continues with Patrick’s three-year-old son, Kevin Aidan, who came onboard his daddy’s boat when he was just two weeks old. Prior to his post at Power & Motoryacht, Patrick worked as a teacher and held editorial positions at newspapers and trade magazines. He currently holds a USCG 50-ton Master license and is an IGFA certified tournament observer.
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