FORT LAUDERDALE, Fla. – An extravagant collection of watches once owned by Ponzi scheming attorney Scott Rothstein was auctioned off to the highest bidder Wednesday.
More than 300 items, including watches, jewelry and three luxury cars, were among the items up for bid at the Broward County Convention Center.
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Slideshow: Slideshow: More Auction Items Slideshow: Rothstein's Watch Collection
A couple hundred people sat in on the auction conducted on behalf of the U.S. Treasury Department, which is collecting the proceeds of Rothstein's riches to return to the victims of his billion-dollar Ponzi scheme.
Rothstein amassed quite the collection of luxury timepieces. In fact, one sold for $61,000.
Jeweler Bruce Kaplan was impressed by the offerings.
"I've never see a collection of watches like that, and I've seen a lot of watches. But I didn't see very many people getting good deals," said Kaplan, who left empty-handed because he said the bids were out of his price range.
But local watch reseller Joseph Levy was very pleased with his purchase, a yellow gold Patek Philippe for which he paid $19,000.
"I'm sure I will be able to sell this for $30,000 pretty easily, and the person who buys it will be getting a good deal, as well," Levy said.
The watches were not the only pricey items up for bids. A 12-carat yellow diamond ring sold for $340,000.
All of the items up for bid were purchased with money Rothstein stole running his massive investment scheme, a crime for which the former Fort Lauderdale attorney is serving a 50-year prison sentence.
Read: Bob Norman's Blog: The Scott Rothstein Auction Draws Crowd -- And A Familiar Mega-Lobbyist