HOUSTON—In a non-descript warehouse on the east side of Houston, you’ll find the remnants of a life dismantled.
From his personal Rolex and cuff links, to a Tiffany diamond once valued at $100,000, more personal belongings of R. Allen Stanford go on the auction block this Saturday morning.
Stanford is currently serving a 110 year prison sentence for defrauding investors of billions of dollars. The items up for auction come from what used to be his massive estate in St. Croix. It is the third such auction, and all of the proceeds will go toward settling some 20,000 claims against Stanford, totaling $7 billion.
“It’s a court appointed sale, so there’s no minimums and no reserves,” said auctioneer Seth Worstell. “Everything here will be sold to the highest bidder.”
The auction is open to the public. Doors open at 8 a.m. and the auction begins at 10 a.m. A refundable cash deposit of $200 is required to gain entry. You can get a sneak peak all day Friday at the Seth Worstell Auction House located at 4200 Blaffer Street or view the items now online. For more information go to www.houstonauctionsales.com