$200 For Madoff's Underwear

Updated: Sunday, 05 Jun 2011, 11:49 AM EDT

Published : Sunday, 05 Jun 2011, 11:49 AM EDT

Miami - Thousands of buyers vied for items that once belonged to convicted swindler Bernard Madoff, with 14 pairs of underwear going for $200 and a photograph of a naked rear end selling for $4,600.

The Miami Herald reports the U.S. Marshals Service held the auction Saturday in Miami Beach. Some bidders, like Mike Burd of Long Island, planned to resell the goods for profit on eBay. Others, like North Miami online retailer Rich Kroll, simply wanted a piece of history.

The mostly household goods brought in more than $400,000, which will go toward compensating victims of Madoff's $65 billion Ponzi scheme. Madoff pleaded guilty and is serving a 150-year prison sentence.