Christmas is coming, and there's really no better way to say "I love you" to the Ponzi schemer in your life than by gifting him with a pair of cufflinks that belonged to disgraced Billionaire bilker R. Allen Stanford. At least fourteen pairs of Stanford's cufflinks are on sale. (Presumably, cufflinks don't work with the "prison casual" wardrobe he's been sporting inside the Coleman Federal Correctional Complex in central Florida.)
Saturday's sale, held by Seth Worstell Auction Co. , marks the first time Stanford's personal effects will hit the auction block, according to Seth Worstell. (The auction house generated $267,230 for the Stanford Financial Group Receivership with its two previous Stanford-affiliated auctions: in June 2011 they sold items owned by the company and, in April, personal items that belonged to former Stanford CFO James Davis.)
There will be plenty of other things to pick from: Stanford's personal and household items from his St. Croix estate take up some 10,000 square feet of Worstell's east Houston warehouse. "It's a whole lot of stuff. It's a little overwhelming," Worstell told the TM Daily Post of the quantity of items on offer.
Cufflinks not your style? How about these two starfish pendants? What, you think those are tacky? Then how about this Rolex? There's also this SubZero refrigerator , this set of Wedgwood china, and this large assortment of firearms?
Transportation options on offer range from golf carts to a eighteen-foot Nautica rigid inflatable boat to a pair of antique bicycle taxis .
Stanford, sentenced to 110 years in June for running a $7 billion Ponzi scheme, is slated for release in April 2105, according to the Federal Bureau of Prisons.
The public is invited to preview the items for sale on Friday from 8 a.m. to 4:30 p.m. at the warehouse, located at 4200 Blaffer Street in Houston.The auction is set for 10 a.m. on Saturday, October 6.
"There are no minimums and no reserves on a court-appointed sale like this," Worstell explained. "We have to sell items to the highest bidder, no matter what it brings." All proceeds from the auction go to the receivership.
For more information about the auction, see the Houston Chronicle 's Katherine Feser's Q&A with Worstell.