07/10/2013 10:50 am ET

Madoff's Picasso, Lichtenstein Pieces Heading To Auction


Whatever else Bernard L. Madoff did with the proceeds from his $17 billion Ponzi scheme, he didn’t splash out on great art.

Toward the end of the year, Sotheby’s in Manhattan and Stair Galleries in Hudson, New York, will auction 61 items formerly owned by Madoff with an insured value of more than $575,000, according to a recent filing by Irving Picard, the trustee liquidating the Madoff brokerage, with U.S. Bankruptcy Court.

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