Bernie Madoff's clothes get transformed into collectible $500 iPad covers



Collectors in the niche market of fraudster memorabilia take note.

IPad covers fashioned from convicted fraudster Bernie Madoff's clothing have been selling for $300 to $500 of late.

It is the latest move in the long-running Bernie Madoff sell-off.

Since last year administrators for his estate have been trying to make a dent in the multi-billion dollar black hole his Ponzi scheme left behind by selling an array of items.

In 2010 his personalised New York Mets jacket sold for $14,500, while his 18K gold Rolex Monoblocco 'Prisoner' watch (nicknamed as it was of a similar design to ones sold to British PoWs in the Second World War) made $65,000.

Entrepreneur John Vaccaro bought up a large amount of Madoff's wardrobe and, with the help of a designer, produced the iPad covers from Madoff-worn trousers, sweaters and sweatshirts.

A $500 iPad cover from the Madoff collection

"First I searched all the pockets to see if there were any $100 bills inside, then I found a designer who could make the cases from the cut-up clothing, which was tricky," Vaccaro told the New York Post newspaper.

"I've made 31 so far, and only have a few pairs of pants, sweaters and sweatshirts left."

It goes to show how a famous name can cause relatively mundane items to surge in price.

A set of Ruth Madoff's 14-carat diamond earrings sold for $70,000 last year, more than trebling their estimate of around $21,000.

Madoff's black velveteen slippers have also sold for $6,000 while his wine cellar recently netted $41,500.

Madoff is due for release from prison in 2039.


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