bernie madoff yachts

Bernie Madoff's "Bull" for Sale in Florida

Two yachts and Mercedes are on the block in auction of Ponzi scammer's assets.

Nov. 17, 2009 — -- On Tuesday at 4 p.m., a Mercedes and three boats, including a 55-foot yacht, that were once owned by convicted scammer Bernard Madoff will be sold at an auction that could yield several million dollars for Madoff's victims . By Monday evening, 51 people had put up the necessary $100,000 for the right to bid, according to Bob Toney, president and CEO of National Liquidators, which is running the auction for the U.S. government .

"I am pleased and surprised that the interest is this high," said Toney. "It may not go up much more but it could. It's the first time I've auctioned off three boats owned by a man who embezzled $65 billion dollars, so nothing surprises me at this point."

Click here to go behind the scenes of Brian Ross' investigation into Bernie and Ruth Madoff.

The sale includes Madoff's 55-foot yacht, called the "Bull," the 38-foot "Sitting Bull," and a 24-foot boat called "Little Bull," as well as Madoff's black 1999 Mercedes Benz convertible. According to the auction catalog, "Elegant appointments abound inside the cabin" of the "Bull," a restored 40-year-old Rybovich sportfishing boat. "A luxurious master stateroom and comfortable guest staterooms offer the kind of comfort and ambience found in a stately and dignified home.

The biggest vessel on offer, however, belonged to former Madoff sidekick, Frank DiPascali. Once Madoff's chief financial officer, DiPascali plead guilty to 10 counts for his role in Madoff's Ponzi scheme . DiPascali, who is cooperating with authorities, has not yet been sentenced. He faces up to 125 years in prison. Madoff is currently serving a 150-year term.

Click here to purchase "The Madoff Chronicles" from Amazon.com.

Jennifer Crane of the U.S. Marshal's asset forfeiture division told the Associated Press that an auction of Madoff's personal belongings held in New York this past Saturday earned more than $1 million.

Toney said he didn't want to make specific predictions about how much the Fort Lauderdale auction will bring. "As with any high-profile auction, we're letting the market set the value," said Toney. "But with that number of bidders you'll get what the Marshals want out of the boats and hopefully a little bit more. "

"We don't know how much notoriety may add to the price, but it has certainly added interest," added Toney. A life preserver from the Bull sold for $7,500 at this weekend's auction in New York.

All of the proceeds of the auction will go to Madoff's victims. The administrative costs of the auction, said Toney, are covered by the government. Three or four more auctions of Madoff's personal items are expected, and an $8.9 million penthouse in Manhattan and a $7.9 million Palm Beach mansion are also on the market. Both prices have been reduced since the homes first went on the market two months ago.

Popular Reads

Court explosion suspect faces multiple felonies

• Sep 25, 8:08 PM

New York City Mayor Eric Adams indicted

• Sep 26, 8:13 AM

3rd house collapses in 4 days on NC coast

• Sep 25, 3:04 AM

Marcellus Williams executed in Missouri

• Sep 24, 8:24 PM

Fact-checking Harris and Trump presidential debate

• Sep 11, 7:08 AM

ABC News Live

24/7 coverage of breaking news and live events

Toney said he didn't want to make specific predictions about how much the Fort Lauderdale auction will bring. \"As with any high-profile auction, we're letting the market set the value,\" said Toney. \"But with that number of bidders you'll get what the Marshals want out of the boats and hopefully a little bit more. \"

\"We don't know how much notoriety may add to the price, but it has certainly added interest,\" added Toney. A life preserver from the Bull sold for $7,500 at this weekend's auction in New York.

You are using an outdated browser. Please upgrade your browser to improve your experience.

Bernie Madoff’s luxury life on auction

Three boats previously owned by jailed financier Bernard Madoff, that was sentenced in June to 150 years in prison, will be auctioned off in Fort Lauderdale on November 17. Among the boats to be sold are a 55-foot, 1969 Rybovich luxury fishing boat called Bull that’s said to be worth about $2.2 million and Little […]

Three boats previously owned by jailed financier Bernard Madoff , that was sentenced in June to 150 years in prison, will be auctioned off in Fort Lauderdale on November 17.

Among the boats to be sold are a 55-foot, 1969 Rybovich luxury fishing boat called Bull that’s said to be worth about $2.2 million and Little Bull, a 24-foot center-console boat.

“We anticipate strong interest in the auction,” Matt Amata, vice president of National Liquidators, said in a statement Wednesday. “We’ve heard from several potential bidders, who are interested in both the quality and notoriety of purchasing a ‘piece of history.’ “

They also plan to enlist brokers soon to find buyers for a Manhattan apartment and a Palm Beach, Fla., estate.

In estimates federal regulators filed last year, Madoff himself valued his Manhattan apartment at $7 million and the Florida property at $11 million.

He said the Montauk beach house, which he bought in 1979, was worth $3 million. Federal authorities believe the seaside property could bring closer to $8 million.

“Our goal is to place the homes on the market soon to minimize the amount of time they remain in our inventory and maximize the return to the victims,” U.S. Marshal Joseph R. Guccione said.

RECOMMENDED FOR YOU

Continuing Coverage

Whole Lotta Bull: Madoff's Yachts Go on Auction Block

Ponzi schemer's yachts to be sold to highest bidder in fort lauderdale, by ari odzer and brian hamacher • published november 16, 2009 • updated on november 17, 2009 at 7:13 am.

They're the pricey toys Bernie Madoff used to cruise the waters off Florida and Long Island, and tomorrow they can be yours -- if your bank account's big enough.

Three of the convicted Ponzi schemer's big boats, along with another that belonged to his CFO will be auctioned off in Fort Lauderdale tomorrow, and you'll need at least $50,000 to get in the door.

The highlight of the auction will be "The Bull," a 55-foot vintage Rybovich fishing yacht, restored to museum quality.

Designed for tournament fishing, the auction description said it includes "A luxurious master stateroom, and comfortable guest staterooms offer the kind of comfort and ambience found in a stately and dignified home."

Also auctioned off will be " Sitting Bull " and "Little Bull," smaller luxury yachts but no less opulent than "The Bull." "Sitting Bull" is the 38-foot yacht Madoff kept in Montauk, Long Island, and "Little Bull" a 24-foot Maverick fishing boat.

The boats were seized by U.S. Marshals on April 1, the same day Madoff's $9 million Palm Beach mansion was seized.

The $65 billion Ponzi schemer apparently had quite a bull fetish, littering his Florida and New York homes with bull statues, bull paintings and just about anything else he could slap a bull on.

Madoff, 71, was sentenced in July to 150 years behind bars for bilking investors out of billions.

Marshals selected National Liquidators of Fort Lauderdale to handle tomorrow's auction, which will also include a 61-foot yacht that belonged to former Madoff CFO Frank DiPascali, as well as Madoff's black 1999 Mercedes CLK 320 convertible. 

U.S. Marshals couldn't believe how well kept the 1969 Rybovich was when they seized it in April.

"A lot of money was put into maintaining this boat," said Barry Golden, a spokesman for the U.S. Marshals Service. "This boat was extremely well kept, extremely clean. Engine compartment was spotless. It looked like somebody took a bottle of 409 and scrubbed it every day."

Historic Hurricane Helene larger than 90% of tropical cyclones: John Morales

3 in custody after Fort Lauderdale Police officers shot at during traffic stop

The boat is estimated to be worth about $2.2 million, but judging on the big money that this weekend's auction of Madoff trinkets in New York brought in, National Liquidators is likely hoping to bring in more than face value.

The auction raised nearly $900,000, and included Madoff's Rolex watch and personalized Mets jacket and jewelry belonging to wife Ruth.

Tomorrow's auction is a private event, and bidders will have to show they can afford Bernie's ill-gotten baubles. It'll take a $50,000 deposit to bid on "Little Bull" or the Mercedes, and $100,000 to bid on anything else.

• Breaking News
• University Guide
• Meghan Markle
• Prince Harry
• King Charles III

Bernie Madoff's yacht still can't find a buyer despite half-price $4.3million sale tag

By John Stevens for the Daily Mail Updated: 13:53 EDT, 23 June 2011

View comments

It may have been kept in impeccable condition thanks to its obsessively clean previous owner who never allowed food on board.

But sellers are struggling to find a buyer for the 90-foot powerboat 'Bull' because the former captain was jailed financier Bernie Madoff.

Two years after the turbocharged yacht, 'one of the fastest ever built', was seized on the French Riviera, its asking price has been halved as punters show little interest in taking over the helm from the disgraced broker.

Seized: Bernard Madoff's yacht 'Bull' is up for sale at the discounted price of $4.3 million after it was seized in Cap d'Antibes on the French Riviera two years ago

Jailed: Madoff's assets are being sold to compensate victims of his massive $65 billion Ponzi scheme

Now liquidators have resorted to parading the boat in Monaco harbour draped in bikini-clad models as they attempt to stir up interest from potential suitors meeting for a convention of European hedge-fund managers in the principality.

But the sale of the vessel is proving an uncomfortable reminder for the assembled investors, with no takers despites its price tag being cut in half to $4.3 million (3 million euros), down from $8.6 million.

The significantly discounted asking price is reportedly a result of the vessel's connection to Madoff.

Interested bidders from the Gaim conference, one of the hedge-fund industry's most glamorous annual events, have been invited to watch the boat race up and down Monaco's harbour at speeds up to 42 knots.

The brokerage firm Wyles Hardy offered potential buyers the chance to watch a demonstration of the yacht's prowess from a champagne reception at the café of two-star Michele chef Alain Llorca, overlooking the sparkling harbour.

The boat has 'been continuously and meticulously looked after by the original captain,' according to the sales documents.

'One of the fastest ever built': The Bull has been shown off to potential buyers attending a glamorous hedge-fund conference in Monaco

The firm selling the yacht said it is in perfect condition because the fastidious Madoff never allowed guests to bring food on board.

And the brochure adds: 'If the owner wants anonymity a simple name change is all that is required.'

The boat can sleep up to six guests in opulent accommodation and includes an 'owner's state room'. Additional accommodation is provided for the crew.

RELATED ARTICLES

Share this article

The boat is the single most valuable item from Madoff's fortune to be auctioned so far, excluding his New York penthouse.

The disgraced Wall Street financier, 73, is currently serving 150 years in jail after being found guilty of swindling up to $65billion from investors in his failed Ponzi scheme.

Proceeds of a sale would go to a London court that is supervising the liquidation of Madoff's overseas assets international victims of his massive Ponzi scheme.

His victims included charities, banks, Hollywood stars and moguls, and savvy financial players.

And they all handed him tens of billions of dollars over more than two decades.

The Bull was seized by French authorities on the in the harbour in Cap d'Antibes near Nice on the Côte d'Azur in April 2009, several months after Madoff was arrested.

Share or comment on this article: Bernie Madoff's yacht 'Bull' still can't find a buyer despite half-price sale

Most watched news videos.

• Brave woman stops e-bike thieves by yanking one off moped after theft
• Pres. Biden gets standing ovation as he jogs onstage at 'The View'
• Woman brazenly steals fellow passenger's Apple charger on flight
• Woman left with horrifying injury after failed Dirty Dancing lift
• Gruesome moment man collapses after rupturing both patellar tendons
• A look at Sarco suicide pod as capsule is used for first time
• Gang of dirt bike riders attempt to kill 49ers fan in San Francisco
• Footage of Diddy slapping Jay-Z's bottom TWICE on stage resurfaces
• Homeowner uses 'diversion security' device to deter homeless camping
• Gisele Pelicot walks with head held high as she arrives at court
• Gisele Pelicot's lawyers urge court should not be afraid to 'show rape'
• Harry jokes: 'I know a thing or two about getting into trouble'

• Follow DailyMail
• Subscribe Daily Mail
• Follow @dailymail
• Follow MailOnline
• Follow Daily Mail

From the Makers of Candy Crush

• Back to top

Published by Associated Newspapers Ltd

Part of the Daily Mail, The Mail on Sunday & Metro Media Group

BREAKING: Helene intensifies into a dangerous Category 4 hurricane as it nears Florida

Madoff yacht, boats top $1 million in auction

Disgraced financier Bernard Madoff's yacht "Bull", two smaller boats and a Mercedes-Benz convertible were sold at auction Tuesday for more than $1 million combined.

Madoff's 1969 Rybovich, a restored 55-foot fishing boat, sold for $700,000 to an unknown buyer. A 38-foot Shelter Island runabout named "Sitting Bull" went for $320,000 and the 24-foot Maverick center console "Little Bull" fetched $21,000. The Mercedes, a 1999 model owned by Ruth Madoff, sold for $30,000.

A 61-foot Viking yacht once owned by Madoff's former chief financial officer, Frank DiPascali, sold for $950,000.

The private auction was held by the U.S. Marshals Service, which seized Madoff's property and assets after his massive pyramid scheme was exposed. All proceeds will benefit Madoff's wronged investors, and Madoff himself is serving a 150-year federal prison sentence.

Seventy bidders registered for the event, many of them putting up a $100,000 deposit to make offers on the yachts. Kevin Quirk, a marina manager, said Madoff's notoriety was a big reason for the large turnout.

"It's the hottest thing going," Quirk said.

Kim Hannah, who lost out on a bid for the Mercedes, said she and her boyfriend were motivated in part because the money would go to Madoff's victims.

"It was a chance to give back and also get a good car," Hannah said.

The boat auction followed a sale of Madoff personal property in New York that also raised more than $1 million. Two or three additional auctions are planned, and Madoff's homes in Manhattan and Palm Beach remain for sale.

• THE PRINCESS PASSPORT
• Email Newsletter
• Yacht Walkthroughs
• Destinations
• Electronics
• Boating Safety
• Ultimate Boating Giveaway

• Uncategorized

Make Off with Madoff’s Yacht

• By Daniel Harding, Jr.
• Updated: December 7, 2010

The infamous conspirator of the 50-billion dollar investment scam, Bernie Madoff spared no expense in the purchasing of luxury goods such as the custom 88-foot Leopard Yacht aptly named Bull . Wyles Hardy and Company, who are joint liquidators of Madoff Securities International, have announced the yacht is ready to be sold at auction.

Bull features accommodations for six in three staterooms as well as three crew berths. Powered is supplied by twin MTU M92s that have logged less than 300 hours running the financier and guests along the south of France. The reported cruising speed is 33 knots.

With a list price of $6 million when new in 2007, Bull has the potential of being sold for more than his last three yachts that were auctioned off for an approximate combined total of 1 million dollars.

• More: Yachting News Headlines
• More Uncategorized

BoatUS Launches Online Advocacy Tool

Dock Danger

A Dream Fulfilled

3 America’s Cup Hashtags to Follow

Silver Bullet: Pershing 90 Express For Sale

Long-Range Voyager: 2006 Ocean Alexander 58 Pilothouse For Sale

Octoport’s Carbon-Fiber Yacht Furniture Elevates Life Onboard

World Traveler: Westport 112 Raised Pilothouse For Sale

• Digital Edition
• Customer Service
• Privacy Policy
• Terms of Use
• Email Newsletters
• Cruising World
• Sailing World
• Salt Water Sportsman
• Sport Fishing
• Wakeboarding

• Subscribe Now
• Digital Editions

Bernie Madoff’s boat Bull finally up for sale

The 27m Leopard is lying in Gibraltar after undergoing a full out-of-water service

A motor boat that belonged to convicted Ponzi schemer Bernie Madoff is finally for sale following a protracted legal dispute over its ownership.

The 27m-long Leopard , Bull , was purchased by Madoff Securities International Limited (MSIL) in 2007 for €5 million.

It has been hardly used since its purchase, and is now lying in Gibraltar having just undergone a full out-of-the-water service.

Inside are a “luxurious” master cabin, two guest ensuites, and three berths for crew.

It is only coming on the market now, some time after the sale of many of Madoff’s assets , because of a long dispute over its ownership.

Recommended videos for you

Both the liquidators and a French creditor claimed the vessel shortly after Madoff’s empire went pop.

“Having resolved a period of legal dispute over its ownership, I am pleased to be finally able to offer for sale yacht Bull ,” said Stephen Akers from liquidators Grant Thornton .

“I am sure that its unique history and high specification will ensure that there is significant interest in the yacht.”

Anyone interested in the boat should contact Wyles Hardy & Co , which is handling the sale, on 01442 832234.

WATCH: Makai M37 sea trial – £720K cruising cat like nothing you’ve seen before

Azimut 62 fly first look: seting new standards for outdoor entertaining, arksen 65 first look: brand new british explorer yacht.

The jewellery, the boats, the minks and the pants: How fraudster Bernie Madoff’s worldly goods are finally helping the thousands he destroyed

Bernie Madoff’s $65bn Ponzi scheme stunned the world. But behind the brash front pages, a meticulous taskforce from a small US government department was sifting through his monogrammed socks, silk slippers and wife's mink coats for the sale of all sales.

By Claire Hills, Journalist

Wednesday 7 December 2022 02:28, UK

As Jenny Crane walked into the kitchen of the stately, $8 million New York penthouse, a small blue sticky note caught her eye.

It was a message from Ruth Madoff, Bernie's wife.

"I definitely want to keep my Nespresso," it said.

Bernard Madoff masterminded the biggest investment fraud in US history, netting himself millions of dollars, and yet here was his wife, begging for a coffee machine.

Woven over four decades, the financier's sophisticated web ensnared up to 40,000 people in 136 countries - celebrities, sports stars, movie directors, a Holocaust survivor, a Nobel Peace Prize winner and thousands upon thousands of everyday folk whose lives were blighted when they lost pensions, college funds, savings, money for medical bills; in short, their nest eggs.

Madoff, who died last year, was jailed for 150 years and while that brought some sense of justice to his victims, it didn't help them with their catastrophic financial losses.

Step in Jenny and the Department of Justice Asset Forfeiture Management Staff taskforce.

More from US

US election latest: Trump confirms meeting with Zelenskyy after sharing 'message from Ukrainian president'

Sir Keir Starmer to meet with Donald Trump to 'establish a relationship'

Harris takes aim at Putin alongside Zelenskyy - and makes 'surrender proposals' swipe at Trump

A US federal government team and part of the Marshals Service, it was set up to recover assets used as part of a crime or bought with the proceeds of crime, sell them, and then give back the money made, to victims.

Before 1984, if you went to jail for racketeering money or laundering or plain old stealing, you got to go home after serving your time - to your penthouse and Mercedes with all your cash still in the bank.

But the Comprehensive Crime Control Act of 1984 changed all that.

If you're a kingpin, watch your back

As Jenny told the Chasing Evil podcast: "If you have ill-gotten gains as a result of an illegal activity, the government can now seek forfeiture, meaning take those items and sell them …to help reimburse victims.

"From 1984, 'forfeiture' was made part of the justice vernacular. Now, we could take away all the goodies the drug dealers and money launderers had.

"So, if you are a kingpin, the DA is looking for you, and if you bought a fleet of high-end cars with the money you have made selling the drugs, then we are going to take those cars. Or if you are driving those cars to facilitate selling all the drugs, we are taking those cars as well.

"If you use your money, and you purchase a car, a house, you have annuities, stock bonds, you have horses, you have llamas, we have the ability to seize (which is to hold on to) until the tenancy of a court case.

"Once forfeited, all title rights and interests pass to the US government - and we can sell them."

And sell them they did.

It took a team of almost 30 over many days at the Madoff Manhattan penthouse to catalogue, pack and remove every single item - and this was only one of three homes the couple owned.

Everything from jewellery and furniture to that Nespresso, socks and underpants were removed and listed for sale.

And the Madoff auction was the auction to end all auctions.

It generated a frenzy of people wanting to own a piece of criminal history.

Thousands of buyers queued outside just one of the sales in New York. Journalists from all over the world descended.

Lot Number 380 was: "Several pairs of men's socks, used, 1 pair of Prada pantyhose, 11 pairs of men's designer boxers shorts". ("Those were new, they were not used," says Jenny).

Bidding started at $955. The lot went for $1,700.

'So much conspicuous consumption'

At the apartment, the socks had been stored in a luxurious built-in closet, with cedar-lined drawers. All were monogrammed.

"There were several pairs of shoes too," says Jenny, "all within the original maker box, all the same size, all monogrammed in every colour possible.

"There was so much conspicuous consumption."

Bob Sheehan, of Gaston and Sheehan Auctioneers, who ran the sales, said: "There must have been over 200 pairs of shoes, all the same brand - a Belgian shoe.

"On the wall next to the closet, he [Madoff] actually had a schematic to show what colour shoe was on what shelf, and when he wore them and where."

The couple's clothes were replicated in all three of their homes, too.

Jenny: "It was so they didn't need to pack a bag. At every home there were a lot of shoes, a lot of socks, a lot of underwear.

"No-one needs 100 pairs of socks all reminding you of your initials!"

One lot was a leather bull footstool. The item description read: "Tail needs to be re-attached."

It went for $3,300.

A Steinway piano, with an opening bid of $7,000, went for $42,000.

Bob said: "I talked to the buyer after the sale. He said he'd always wanted a Steinway and thought, 'well, if I want a Steinway and I have a Steinway that was in Bernie Madoff's house, that's even better'."

There was big interest from financial companies on Wall Street too.

One bought a stock certificate with no intrinsic value at all - just a piece of 8x11 inch paper with Bernie Madoff's name on it.

It sold for more than $1,000.

Lot 292, a "wooden duck decoy, with maroon head glass eyes, black body" went for $4,750.

A pair of black, embroidered slippers - which were, of course, monogrammed - went for $6,000.

A Mets jacket with Madoff's name on it fetched $14,000. The Mets were also a victim of his crimes.

On December 11, 2008, Madoff was arrested by the FBI. On March 12, 2009, he pleaded guilty to 11 federal crimes and admitted running the largest private Ponzi scheme in history.

'A beast and a monster'

The trial was covered by the world's media and in the glare of the unrelenting spotlight, even Madoff's family became victims: Under the pressure of it all, his son committed suicide. His brother lost most of his possessions. There were no winners. He was variously labelled a "beast" and a "monster" by his trusting investors. "And these investors weren't just your big dollar money people," said Jenny, "These were your grandma and grandad retired to Florida."

Please use Chrome browser for a more accessible video player

Roland Yubaldo, a senior inspector with the Organised Crime and Drug Enforcement taskforce, told the podcast: "He destroyed so many lives, financially, emotionally - and not just for this generation but for many to come."

And this is why, he says, asset forfeiture is such an important weapon in the law enforcement armoury.

"The use of asset forfeiture disrupts and dismantles illegal enterprises. It deprives criminals of the proceeds of illegal activity, deters crime, and it restores property back to victims," he said.

Chasing Evil podcast host, Chris Godsick, described the Justice Asset Forfeiture Management Staff taskforce as, a "phenomenal programme," adding, "it really seeks justice for victims in a way they usually don't get it". Jenny went further. "It's the best law enforcement success story out there," she said simply.

• Chris Godsick, creator of the Chasing Evil podcast, was given exclusive behind-the-scenes access to many of the largely unknown areas of the marshals' work. The extraordinary stories he uncovers are told via all major podcast providers.

• Classic Driver
• Forgot password
• Newsletters
• Language English Deutsch
• Currency Select AUD CHF CNY DKK EUR GBP HKD INR JPY NZD SEK SGD USD
• Collectibles
• Real Estate
• CD Works Agency
• For sale CD Shop Magazine Auctions Sell

Bernie Madoff’s Yacht - ‘Bull’ - To Be Sold

It’s akin to buying Al Capone’s violin case: British asset realisation specialist Wyles Hardy & Co. is offering more property from Bernie Madoff, the world’s greatest fraudster, this time a 27-metre Leopard superyacht .

The $50bn (£35bn) investment scam generated enough money for Madoff to treat himself to some of life’s luxuries. A mid-November New York auction saw the sale of some of his ill-gotten gains, such as a $67,500 Rolex watch , his wife’s $550,000 diamond engagement ring and $6000 embroidered velveteen slippers .

This generated $2,000,000 for creditors, and added to a previous auction which had totaled $1,000,000. Now, one of the jewels in the crown of Madoff's possessions is up for grabs: the 2007 27-metre superyacht ‘Bull’ .

Currently lying off Gibraltar, the boat has just been released from full out-of-the-water maintenance and, according to Wyles Hardy & Co. , is “ready for immediate use”.

The twin MTU M92 engines , each producing 2285HP at 2450rpm, have seen less than 300 hours' running time. The motor yacht has six berths, which number an owner’s en-suite stateroom; VIP en-suite cabin; guest en-suite cabin; and three crew berths.

Having a list price of 6m euros when new, it was constructed in 2007 by Cantiere Navale Arno (Pisa, Italy) to Madoff’s specifications. The yacht comes complete with monogrammed towels and bespoke bed covers embroidered with Ruth and Bernie Madoff’s initials.

Concerning Madoff’s ‘Bull’, Gordon Wyles , Chairman of Wyles Hardy & Co ., has made the following statement: “Although we have had significant interest in Europe, we are keen to test the US market before we conclude a sale as we believe that this yacht’s association with the largest swindle of the 20th Century makes ‘Bull’ almost a piece of American heritage.

“It should prove attractive to US-based buyers, with its intriguing charter-market opportunities.”

For further details, and to register expressions of interest, please contact Gordon Wyles , [email protected] , or Simon Withall , [email protected] . Or call +44 (0)1442 832234.

Text: Steve Wakefield Photos: Wyles Hardy & Co ClassicInside - The Classic Driver Newsletter Free Subscription!

Recommended

Madoff yacht ‘bull’ hit by bear boat market.

Bernie Madoff’s turbocharged yacht, one of the fastest on the French Riviera, is in the discount rack at 50 percent off its original asking price — but even at that price, hedge-fund bargain hunters are showing little interest.

It’s not because they can’t afford the $11,000 it takes just to fill the diesel tank on the 88½-ft. custom-made yacht, named “Bull,” or pay $250,000-plus a year for the captain and his two crewmen to keep it seaworthy. Apparently the boat — the last luxury toy left from Madoff’s swindler paradise — doesn’t have enough cachet to lure a buyer since it was seized nearly three years ago by authorities.

Hoping to pump up interest, the broker for “Bull” threw the Riviera’s version of a yard sale, setting up shop near a posh Monaco convention of European hedge-fund titans, including numerous Eastern Europeans. The asking price is $4.3 million, down from $8.6 million.

With decks draped in bikini-clad models, “Bull” raced up and down Monaco’s harbor at speeds up to 42 knots, which experts called spectacular for a boat of that size.

The brokerage firm, Wyles Hardy offered onboard tours and held VIP cocktail parties at cafés overlooking the sparkling harbor.

The firm said the yacht is exceptionally pristine because Madoff was a clean freak and never allowed guests to bring food on board.

Some observers said the pride of the Madoff fleet, however, might not even fetch $2 million, due to a continuing lack of interest among Europeans facing austerity pressures.

Proceeds of a sale would go to a London court that’s supervising a liquidation of Madoff’s overseas assets for global victims. [email protected]

Log in or Sign up

You are using an out of date browser. It may not display this or other websites correctly. You should upgrade or use an alternative browser .

JWY Senior Member

I was aboard Bull yesterday and today with the new owner. The owner is a local businessman who doesn't plan on keeping Bull for personal use. The yacht is in as close to perfect condition as they come. Amazing what a million bucks can do for a refit. Federal Marshals had removed most belongings but there were a few items that remained with the vessel: Limoges china in the galley, gold-rimmed bar glasses with hand painted bulls, a bull painting, and a boat flags. The flags of interest were the house flag which is, duh, a bull; a Rybo flag, and 2 well worn fish flags which proved this boat was a fishing machine under previous ownership. The owner says he bought the boat to help some of the Madoff investors get restitution. Judy Waldman

Capt Bill11 Senior Member

"The owner says he bought the boat to help some of the Madoff investors get restitution." Interesting. But did he want to help them so much that he payed fair market value? :^)

MBevins Senior Member

Well here comes the next obvious question. What was the sell price?

Hattsoff Member

JWY said: I was aboard Bull yesterday and today with the new owner. The owner is a local businessman who doesn't plan on keeping Bull for personal use. The yacht is in as close to perfect condition as they come. Amazing what a million bucks can do for a refit. Federal Marshals had removed most belongings but there were a few items that remained with the vessel: Limoges china in the galley, gold-rimmed bar glasses with hand painted bulls, a bull painting, and a boat flags. The flags of interest were the house flag which is, duh, a bull; a Rybo flag, and 2 well worn fish flags which proved this boat was a fishing machine under previous ownership. The owner says he bought the boat to help some of the Madoff investors get restitution. Judy Waldman Click to expand...

Bull sold at auction for $700,000 and then there were about $50,000 in additional fees. The owner intends to sell the yacht. He's not a sportsfisherman and he wants her in the ownership of someone who will use and appreciate her appropriately. She really is a beautiful boat. The Rybo refit should have gotten an award from somewhere. She's tasteful and elegant (well, maybe excluding the bull painting) and has some nice practical features. You can't help but appreciate the yacht and appreciate her build for intended use. Judy

T.K. Senior Member

JWY said: Bull sold at auction for $700,000 and then there were about $50,000 in additional fees. The owner intends to sell the yacht. He's not a sportsfisherman and he wants her in the ownership of someone who will use and appreciate her appropriately. She really is a beautiful boat. The Rybo refit should have gotten an award from somewhere. She's tasteful and elegant (well, maybe excluding the bull painting) and has some nice practical features. You can't help but appreciate the yacht and appreciate her build for intended use. Judy Click to expand...

YachtForums Administrator

Posting these pics on behalf of Judy while she's on a sea trial (aka free boat ride!). Here's a few pics of the Monster Madoff's Rybovich Sportfish "Bull". The first pic would be the Bull Butt...

Attached Files:

Bullbutt.jpg.

Bull Burgees...

BullBurgees.jpg

Bull Bunks...

BullBunks.jpg

Bull Work...

Bullwork.jpg

Bull Bar...

BullBar.jpg

The Ponzi Panel...

PonziPanel.jpg

And finally, Bull Power...

BullPower.jpg

Beautiful! I hope she fishes again real soon.

Looks fine............what's the length?

Yacht News YF News Editor

TK-F430 said: Looks fine............what's the length? Click to expand...

revdcs Senior Member

Was this the only yacht he owned?

revdcs said: Was this the only yacht he owned? Click to expand...

Madoff had 3 boats go to auction: Bull, the 55' Rybo; Sitting Bull, 38' 2003 Shelter Island; and Little Bull, 24' Maverick with Yamaha engine. The new owner of Bull just told me he is donating the proceeds of the sale to victim restitution. Judy

lobo Senior Member

and a Leopard 27M "Bull" in Antibes, France up for auction: http://www.wyleshardy.com/details_single.asp?auctionid=664

• No, create an account now.
• Yes, my password is:
• Forgot your password?