18/11/2010 Bernie Madoff’s Yacht - ‘Bull’ - To Be Sold
It’s akin to buying Al Capone’s violin case: British asset realisation specialist Wyles Hardy & Co. is offering more property from Bernie Madoff, the world’s greatest fraudster, this time a 27-metre Leopard superyacht .
The $50bn (£35bn) investment scam generated enough money for Madoff to treat himself to some of life’s luxuries. A mid-November New York auction saw the sale of some of his ill-gotten gains, such as a $67,500 Rolex watch, his wife’s $550,000 diamond engagement ring and $6000 embroidered velveteen slippers.
This generated $2,000,000 for creditors, and added to a previous auction which had totaled $1,000,000. Now, one of the jewels in the crown of Madoff's possessions is up for grabs: the 2007 27-metre superyacht ‘Bull’.
Currently lying off Gibraltar, the boat has just been released from full out-of-the-water maintenance and, according to Wyles Hardy & Co., is “ready for immediate use”.
The twin MTU M92 engines, each producing 2285HP at 2450rpm, have seen less than 300 hours' running time. The motor yacht has six berths, which number an owner’s en-suite stateroom; VIP en-suite cabin; guest en-suite cabin; and three crew berths.
Having a list price of 6m euros when new, it was constructed in 2007 by Cantiere Navale Arno (Pisa, Italy) to Madoff’s specifications. The yacht comes complete with monogrammed towels and bespoke bed covers embroidered with Ruth and Bernie Madoff’s initials.
Concerning Madoff’s ‘Bull’, Gordon Wyles, Chairman of Wyles Hardy & Co., has made the following statement: “Although we have had significant interest in Europe, we are keen to test the US market before we conclude a sale as we believe that this yacht’s association with the largest swindle of the 20th Century makes ‘Bull’ almost a piece of American heritage.
“It should prove attractive to US-based buyers, with its intriguing charter-market opportunities.”