Forfeited jewelry auctioned off.
The auction was carried out by the US Marshals service and it is known as the U.S. Marshals Service national forfeited jewelry auction which takes place every 4 months in a different city.
The auction which was held at Austin Texas on Saturday 1st August 09 was also attended by two prominent businessmen, Alan Richardson and Scott Garber.
According to the Statesman. COM this is the second time the auction is coming to Texas state. In March this year a similar auction which was held in Dallas raised $3.1 million and was attended by 2000 people.
Some of the items from the 386 lots that was put up for auction on Saturday in the Governors room at the Austin Hilton include an 8.45 carat diamond set in a gold ring, a golden Medusa-engraved goblet, a stainless steel Joe Rodeo watch and a white gold and diamond bracelet.
The most expensive items at the auction included the Joe Rodeo watch made of stainless steel embedded with 20 carats of diamonds in the face and 252 diamonds in the gold band, and a white gold bracelet set with 250 round brilliant cut diamonds. The watch and the bracelet were both valued at US$ 35,000.