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Nov 17, 2009 7:07 PM by Associated Press

Madoff yacht, boats sold at auction in Florida

Bernard Madoff's yacht "Bull," two smaller boats and a Mercedes-Benz convertible have been auctioned in Florida for more than $1 million combined.

Madoff's 1969 Rybovich, a 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, sold for $30,000.

A 61-foot Viking yacht once owned by a Madoff associate sold for $950,000.

The private auction was held by the U.S. Marshals, which seized Madoff's assets after his massive Ponzi scheme was exposed. Proceeds will benefit Madoff's wronged investors.

Madoff is serving a 150-year prison sentence.

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