Image: Bernard Madoff's boat, "Bull"
J Pat Carter  /  AP
Bernard Madoff's boat, "Bull," is impounded at the National Liquidators dock in Fort Lauderdale, Fla. The boat will be sold at public auction on Tuesday.
updated 11/16/2009 4:30:10 PM ET 2009-11-16T21:30:10

A vintage 55-foot (16.7-meter) yacht named "Bull" and two smaller boats that once belonged to imprisoned financier Bernard Madoff are headed for the auction block, along with an even bigger yacht once owned by Madoff's right-hand man.

Madoff's 1969 Rybovich sportfisher, a wooden boat meticulously restored, is the prize offering at Tuesday's private auction. As of Monday, 29 people had put up a $100,000 deposit for the opportunity to bid and more were expected to register, according to the U.S. Marshals Service.

"People have heard of it. It's a piece of history," said Bob Toney, president and CEO of National Liquidators, which is handling the auction for the government.

Also for sale are Madoff's 38-foot (11.5-meter) Shelter Island runabout, named "Sitting Bull," and a 24-foot (7.3-meter) Maverick center console named "Little Bull." Then there's Madoff's black 1999 Mercedes-Benz CLK 320 convertible, which has just 12,800 miles (20,600 kilometers) on the odometer, and a 61-foot (18.6-meter) Viking fishing yacht formerly owned by Madoff's ex-chief financial officer, Frank DiPascali.

Image: Madoff yacht auction
J Pat Carter  /  AP
Napkins and glassware bear the name of Bernard Madoff's boat, Bull.

Together, the vessels and car could fetch several million dollars, but officials don't want to put a price tag on any particular item before the auction. Madoff's notoriety could also boost the final sales prices, said Jennifer Crane of the Marshals' asset forfeiture division.

"You can't really put a price on this," she said. "Our goal is to make as much money as possible."

The proceeds will go to investors in Madoff's massive Ponzi scheme. He is currently serving a 150-year federal prison sentence in North Carolina.

An auction this past weekend in New York of jewelry, dishes, clothing and other personal property brought in more than $1 million, Crane said, with three or four additional auctions of personal property yet to be scheduled.

Madoff's penthouse apartment in Manhattan is on the market for $8.9 million — recently reduced by $1 million — and the asking price for his waterfront Palm Beach mansion is $7.9 million. A beach house in the Hamptons on New York's Long Island sold last month for $9.4 million.

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Photos: Inside Madoff's homes

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  1. Penthouse view

    Bernard Madoff's penthouse apartment on the Upper East Side in New York City. The U.S. Marshals Service plans to put the 4,000-square-foot duplex, a Palm Beach, Fla., estate, a yacht and two smaller boats up for sale in the hopes of raising tens of millions of dollars to help reimburse victims of Madoff's Ponzi scheme. (Mary Altaffer / AP) Back to slideshow navigation
  2. Luxurious surroundings

    The foyer and dining room of Madoff's penthouse apartment. Madoff estimated his Manhattan apartment was worth $7 million. (Mary Altaffer / AP) Back to slideshow navigation
  3. Living in style

    Chinese antiques, porcelain vases and towering wooden screens adorn the living room. (Mary Altaffer / AP) Back to slideshow navigation
  4. Spacious dining

    The dining room of Madoff's penthouse is as large as some one-bedroom apartments in New York City. (Mary Altaffer / AP) Back to slideshow navigation
  5. Scene of the crime

    Madoff's office in the New York apartment. The home office has a leather couch, paintings of sailboats and a sculpture of a bull, a favorite Madoff motif, on a coffee table. There's also the desk where authorities said they found 100 checks worth $173 million that Madoff was ready to send out to close relatives and friends after he realized he would be caught. (Mary Altaffer / AP) Back to slideshow navigation
  6. Stainless steel countertops

    The kitchen of Madoff's penthouse apartment has marble and stainless steel countertops and Baccarat crystal glasses in the cabinets. (Mary Altaffer / AP) Back to slideshow navigation
  7. Crystal for sale

    Baccarat crystal labeled for sale in the kitchen of Bernard Madoff's penthouse apartment on the Upper East Side of Manhattan. (Mary Altaffer / AP) Back to slideshow navigation
  8. Breakfast nook

    The kitchen of Bernard Madoff's penthouse apartment has an atrium breakfast nook. (Mary Altaffer / AP) Back to slideshow navigation
  9. Master bedroom

    A four-poster bed adorns the master bedroom of Bernard Madoff's penthouse apartment. (Mary Altaffer / AP) Back to slideshow navigation
  10. Fallen from grace

    A detail of a poster of a photo of Bernard Madoff signed by friends and relatives left behind in Madoff's penthouse apartment. (Mary Altaffer / AP) Back to slideshow navigation
  11. Closet space

    One of three walk-in closets in the apartment, where agents found more than 50 business suits and countless pairs of men's shoes. (Mary Altaffer / AP) Back to slideshow navigation
  12. Spacious bathroom

    One of the bathrooms in Bernard Madoff's penthouse apartment, with white marble floors, a bidet and a flat-screen television. (Mary Altaffer / AP) Back to slideshow navigation
  13. Crammed closet

    Boxes with personal belongings in a closet in Bernard Madoff's penthouse apartment. (Mary Altaffer / AP) Back to slideshow navigation
  14. Ruth's office

    Ruth Madoff's office in their penthouse apartment. (Mary Altaffer / AP) Back to slideshow navigation
  15. 'Bull'

    Bernard Madoff's yacht, named "Bull," is a 55-foot 1969 Rybovich that has been completely refitted, from brand-new twin Man Diesel engines to all-new electronics. (J Pat Carter / AP) Back to slideshow navigation
  16. Bunk-style

    Madoff's boat features three small state rooms with bunk beds, rather than a large state room with regular-size beds. (J Pat Carter / AP) Back to slideshow navigation
  17. On board

    The small kitchen on Bernard Madoff's boat was updated in prepation for the auction. (J Pat Carter / AP) Back to slideshow navigation
  18. Bullish motif

    Napkins and glassware bear the name of Bernard Madoff's boat, "Bull." (J Pat Carter / AP) Back to slideshow navigation
  19. Florida seclusion

    A large banyan tree in the front yard of Bernard Madoff's Palm Beach, Fla., home. The house, which will be sold at auction, is tucked into a secluded, palm-lined lot with a stunning view to the west across the Intracoastal Waterway. (J Pat Carter / AP) Back to slideshow navigation
  20. On the auction block

    Everything in Bernard Madoff's study in his Palm Beach, Fla., home is tagged for auction. (J Pat Carter / AP) Back to slideshow navigation
  21. Home away from home

    The formal dining room at Bernard Madoff's Palm Beach, Fla., home. (J Pat Carter / AP) Back to slideshow navigation
  22. Master bedroom

    The sitting area of Madoff's Palm Beach, Fla., master bedroom. The 8,700-square-foot house, built in 1973, has Mexican tile throughout, five bedrooms and seven bathrooms. (J Pat Carter / AP) Back to slideshow navigation
  23. Water view

    A telescope points out towards the Florida Intercoastal waterway, where Madoff would have been able to see his boats at a 100-foot private dock overlooking a chevron-shaped pool with a Jacuzzi at one end. (J Pat Carter / AP) Back to slideshow navigation
  24. Palm Beach living

    Large vegetation and a swimming pool sit behind Bernard Madoff's Palm Beach, Fla., home. (J Pat Carter / AP) Back to slideshow navigation
  25. Close to the sea

    The 1.2-acre lot in Montauk, New York sits closer to the surf than larger neighboring homes on the southeastern tip of Long Island. (Robert Mecea / AP) Back to slideshow navigation
  26. Room with a view

    This is a view of the living room of the house of Bernard Madoff in Montauk, New York. A staircase descends to the living room with vaulted ceilings, exposed beams and a stone fireplace. (Robert Mecea / AP) Back to slideshow navigation
  27. Dinner for eight

    The dining table has a view of the ocean. At 3,014 square feet, the home is cottage-size by superrich standards. (Robert Mecea / AP) Back to slideshow navigation
  28. 'Understated' design

    The master bath, one of three bathrooms in the house, has a look right out of the 1980s. (Robert Mecea / AP) Back to slideshow navigation
  29. Decoy ducks

    A set of antique duck decoys on a hallway table. (Robert Mecea / AP) Back to slideshow navigation
  30. In the bedroom

    The second-floor entrance leads to this small master bedroom with a private terrace. (Robert Mecea / AP) Back to slideshow navigation
  31. Nautical-meets-folk-art

    The Madoffs' interior decorating taste leaned toward nautical-meets-folk art. (Robert Mecea / AP) Back to slideshow navigation
  32. Faded furniture

    Faded furniture, like this night table in one of the bedrooms, can be found throughout the home. (Robert Mecea / AP) Back to slideshow navigation
  33. Relaxing on the porch

    Several sets of glass doors open onto the porch. The four-bedroom, three-bath beach house has been described as "simple, stylish and understated." (Robert Mecea / AP) Back to slideshow navigation
  34. Pool party

    A small swimming pool overlooks the Atlantic Ocean. A private path winds to the beach through pine trees, rose bushes and dune grass. (Robert Mecea / AP) Back to slideshow navigation
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