Even Bernie Madoff’s Wine Collection Is Overvalued

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Somber over the loss of those mini Smirnoff bottles. Photo: Stephen Chernin/Getty Images

Bernie Madoff's booze collection was auctioned off yesterday, and the 262 bottles of wine and liquor (predicted to fetch between $15,000 and $20,000) ended up bringing in $41,530. According to the Post, "much of the stockpile was considered second-rate" (mini Smirnoff bottles? snicker), but honestly, we doubt many people bought this stuff to drink it. Proceeds are going to the Ponzi schemer's victims, though $40K won't make much of a dent in the $65 billion Madoff bilked investors out of. In fact, it might have been more consolation just to give them the booze. [NYP]