Those in the market for jewelry today may find themselves with a steal—literally—if they make the trek to New York’s Belvedere Hotel at 319 West 48th Street at 3 pm.
If you’ve been begging for a bracelet or are choosy about your chains, this is your opportunity.
A cache of high-end jewelry is up for auction today in New York City–courtesy of the Manhattan DA’s office. The eye-catching baubles and bling were taken as part of investigations against two stock traders—who were involved in two separate scams.
The quarter million dollars of high-end jewelry includes Van Cleef and Arpels earclips, a gold Cartier watch, and Hermes enamel cuffs. (Pssst-if you want something with the Hermes name but not the price tag, those are expected to start at only $25.) Loose diamonds can be had for only $4,000; they were originally appraised at far more.
Proceeds of the auction will go to the victims.
Former equities trader David Holzer is serving 5-15 years for stealing $16 million–from friends–that he had convinced to invest in “real estate” and other deals. He used the money to purchase topline vacations, a Porsche, an Aston Martin, and other pricey baubles.
Richard Garaventa, a former Morgan Stanley securities biggie, is serving 2-6 years for stealing $2.5 million. Both men pleaded guilty to grand larceny.
Literature for the Belvedere Hotel (212 245-7000), built during the 1920s and within walking distance of the theater distinct, describes it as–wait for it—“a hidden jewel.”
Michael Tubbs - The Stats Guy
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