In recognition of the damage inflicted on investors by financier Bernard Madoff’s decade-long Ponzi scheme, CIRCA recently spent $50,000 in a U.S. Marshals-held jewelry auction designed to benefit Madoff’s investor victims.
CIRCA purchased an Art Deco diamond and emerald bracelet for twice the piece’s appraised value of $25,000. The piece, made in 1925, has six emeralds surrounded by approximately 25 cts. of diamonds.
CIRCA will donate a portion of the resale proceeds to two charities: the Gift of Life Bone Marrow Foundation in Florida, which lost almost $2 million by investing with Bernie Madoff, and the Breast Cancer Research Foundation.
For more about the piece and the auction, visit the CIRCA Blog: http://blog.circajewels.com.