Bernard Madoff’s monogrammed socks, his suits, shoes, furniture — and anything else of value seized from the Ponzi swindler’s Montauk and New York City homes — will be auctioned in New Jersey this spring, a law enforcement official said.

Proceeds of the auction will go to repay Madoff’s victims. The bidding will take place at the Morris County public safety academy in Parsippany, County Sheriff Edward V. Rochford said.

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“Come on over — we’ll take good care of you,” Rochford said, adding that the public safety center has ample parking for anyone who wants to walk out carrying — or wearing — a pair of the convicted con artist’s shoes.

No date has been set yet, Rochford says, though the U.S. marshal's office for New Jersey is looking at an April or May date.

Madoff’s belongings will be exhibited and sold in the safety center’s gymnasium, the Morris County sheriff said.

James Plousis, the U.S. marshal for New Jersey, will oversee security and the auction itself, which is expected to include furniture, rugs and hundreds of pairs of shoes, The Star-Ledger reports.

Plousis also said he plans to sell the home furnishings from a Bridgewater, N.J., house owned by Madoff’s associate Frank DiPascali.

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Victims of Madoff and their lawyers are battling U.S. Bankruptcy Court in Manhattan for shares of the expected recovery amount of $10 billion from assets. That could allow some investors to recover 50 percent of their investments. At the moment, bankruptcy trustee Irving Picard has about $1.6 billion in hand.

Picard said he believes the actual losses in the giant Ponzi scheme will come to between $18 billion and $20 billion, lawyers have said. Madoff had told investors in their last account statements in November 2008 that their investments totaled $65 billion.

Madoff's waterfront Montauk house sold in October for $9.41 million.

 

Newsday Photo / Karen Wiles Stabile