Madoff’s spoils head to the auction block

Bernard Madoff, 71, had 17 Rolexes, including the Oyster chronograph, estimated to fetch as much as $63,500. He also dressed his wrist with seven Cartier watches and tickers from Patek Philippe, Audemars Piguet, and Franck Muller.

Also on the block are 11 leather Hermes handbags owned by Ruth Madoff, 68, as well as bags by Chanel, Prada, Jil Sander, Judith Leiber, Bottega Veneta, and Louis Vuitton.

The Madoff material is part of a larger auction of jewelry and other items seized under the federal Asset Forfeiture Program in connection with narcotics, white-collar, and other federal crimes, said US Deputy Marshal Roland Ubaldo. The sale was organized by the US Marshals Service, which provided the list of items for sale.

The goods come mostly from the Madoffs’ penthouse apartment on Manhattan’s Upper East Side and a Montauk, N.Y., beach house that recently sold for $9.4 million. Large furniture, including Chippendale chairs, and high-end artworks will be sold in future sales, Ubaldo said, adding that Madoff property may wind up at Sotheby’s or Christie’s.

Saturday’s sale includes a pair of Bull and Bear-motif Tiffany & Co. cufflinks and a Tiffany silver key ring monogrammed “BLM’’ that are estimated to sell for as much as $440. It’s unclear what sort of premium the Madoff name might bring.

“It has a provenance, albeit a negative provenance, but there are people interested in a famous name no matter how esteemed it may be,’’ said Jeff Morris of J&P Timepieces, a New York City watch dealer.

“His name is so well-known it will bring curious attention. It means there will be more people competing.’’

Madoff is serving a 150-year sentence after pleading guilty to defrauding investors by using money from new clients to pay off old ones in the largest Ponzi scheme ever.