From Bernie’s Wrist to Yours?

There’s no real mystery here, but there is a crime connection: As Bloomberg News reports, the “prisoner watch” once worn by NASDAQ chairman and convicted Ponzi schemer Bernie Madoff went up for auction today in New York City. “The name [of the watch] has nothing to do with Madoff’s current status as inmate No. 61727- 054 at Butner Federal Correctional Complex in North Carolina,” Bloomberg notes, before going on to explain that

The 18-carat gold chronograph, model 3525, gained its moniker because Rolex offered similar timepieces to prisoners of war in Germany during World War II, including those involved in “The Great Escape.” It is one of 27 Swiss-made watches that the U.S. Marshals Service plans to sell as it seeks to recover assets for Madoff’s victims. ...

Madoff’s watch collection included 17 Rolexes, seven Cartiers and timepieces from Patek Philippe, Audemars Piguet and Franck Muller, all of which are made by companies based in or near Geneva [Switzerland]. The prisoner watch is valued at $75,000 to $87,500, according to Gaston & Sheehan Auctioneers, which is running the sale at the Sheraton New York Hotel & Towers in Manhattan.

You’ll find the full story here.

UPDATE: Madoff’s Rolex finally sold at the auction for $65,000--$15,000 less than expected.