Michael Mastro Auction: 'I Stole Everything' Says One Bidder at Millionaire's Sale-a-thon

michael mastro1.jpg
Fugitive Mike
A bottle of wine (Chateau Lafite Rothschild) sold for $700, eight pairs of shoes (Christian Louboutin) went for $2,100, and a car (2007 Bentley Continental GTC) was driven away for $92,500. That might not mean a lot for the unsecured creditors of elderly fugitive Michael Mastro who'll be getting back just one percent of their investments with the bankrupt millionaire. But yesterday's auction of Mastro's personal belongings, down to his Italian suits and silk ties, was a windfall for bidders.

Joanne Carson of Kansas City, for example, bid a winning $250 for a George Mamoukakis fur coat at the James G. Murphy auction held in Palm Desert, California. "Oh, my gosh," she told a reporter from The Desert Sun, "that cost at least $5,000."

Others walked away with Gucci, Chanel, Jimmy Choo, Prada and other high-end handbags, shoes and fur coats bought for a fraction of what the 86-year-old Mastro and co-fugitive wife Linda, 61, likely paid for them.

An unnamed Desert couple bought the mint-condition Bentley for about $50,000 less than it might sell on a car lot. The Mastros drove the five-year-old car a mere 28,000 miles.

About 200 bidders attended the live auction (perhaps including a U.S. Marshal or two, looking for leads to the whereabouts of the on-the-lam Mastros, who left behind a $275 million bankruptcy court tab). Another 200 bid online for the 800 luxury items once belonging to the ex-Medina real estate tycoon and his wife, who absconded with diamond rings worth $1.5 million that they were supposed to turn over to the court.

Chihuly chandelier
The Business Journal says Mastro's Steinway baby grand piano sold for $17,000 and a Dale Chihuly chandelier, one of more than two-dozen Chihuly glass pieces, went for $35,000.

There were 56 handbags from Chanel and Escada (which sold from $100 to $900 apiece); 75 pairs of ladies' shoes (European sizes 38 and 38½) from such designers as Prada and Christian Dior...22 furs including Fendi and Valentino coats that sold for as much as $1,150; and 283 bottles of wine...

Murphy's didn't announce the total made on the court-ordered auction, but most bidders seemed to appreciate the bargain-basement price tags. One told the Sun he bought a Judith Leiber handbag for his fiancée and a collection of spaghetti bowls monogrammed with an "M," spending about $700. "I stole everything," he said, smiling. "I feel guilty."

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