The Belvedere Hotel Hosts A High-End Jewelry Auction In New York City, Featuring Items Seized In Investigations Of Two Stock Traders Involved In Separate Scams, Proceeds Benefit The Victims

New York's Belvedere Hotel hosts an auction

The Belvedere Hotel

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.)

Jewelry Auction Offers Deals on Diamonds

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.”