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Makeoff with Madoff's Persian Carpet from Luxury Apartment

 

And we found it!

Daily News has the exclusive on Ruth Madoff's multi-million dollar apartment in NYC:  Being forced to vacate, surely the pricey Persian rug shown in the image below will soon be in the hands of new ownership.

NY Daily News refers to the carpet as a Lavar Kerman with an approximate value of $35,000.  Although there is much debate between how dealers identify such rugs, typical characterisitcs to this vintage and genre include thin pile with good quality wool.  Highly collectible and sought after in almost any condition so long as there are no serious problems of wear or structural issues.

Madoff Rug

Washington Post Excerpt:  "In one day, the financial rug was yanked out from under us," said Ellen, 64, an attorney with the Transportation Security Administration. "We're not rich, but we had carefully planned for retirement for many years, and now my mother cannot afford to pay next month's rent."

Yikes!  Karma anyone?!?

 

Sources:

http://www.washingtonpost.com/wp-dyn/content/article/2009/02/28/AR2009022801905.html

http://www.nydailynews.com/money/2009/06/29/2009-06-29_an_inside_look_at_the_luxury_apartment_ponzi_schemer_bernie_madoff_will_never_se.html

 

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