Gallery: Bernie Madoff’s Old Pants Get New Life as Limited Edition iPad...

In the fall of 2009, U.S. Marshals began a series of auctions that had everyone from art collectors and bankers to tourists and resident New Yorkers scrambling for a piece of the pie. The goods? Jewelry, clothing, wine, furniture, and pretty much every other worldly possession that ever belonged to Bernie Madoff. While most buyers wanted a little piece of history, others, like John Vaccaro, saw a business opportunity. Vaccaro, who is founder of fashion company Frederick James, snatched up a stash of Madoff's old sweaters and pants and has given them new life as iPad cases. The special collection is limited, so if you've always dreamt of storing your iPad in Bernie's pockets, you'd better act fast.

Vaccaro had been selling electronics cases made from recycled and rescued clothing before the auctions as fun accessories for tablets (being just cloth, the covers don’t actually protect the gadgets). But when Madoff’s clothes were on the block, he saw an opportunity he couldn’t pass up. Admitting to the New York Post that he spent much more than he wanted to, Vaccaro bought all 16 pairs of Madoff’s pants and a couple of designer sweaters. The chi-chi labels range from Christian Dior and Bergdorf Goodman to Ralph Lauren and Banana Republic.

The first five cases, made from a navy blue Dior sweater and the Bergdorf Goodman cardigan, sold almost instantly. “A Wall Street lawyer wanted to give them as Christmas presents,” Vaccaro told the Post. Each pair of pants yields enough fabric to make just four cases, with two of those coming right from the seat of the pants. Thirty-one cases have been made so far, and Vaccaro only has a few pairs of pants left. Each of the remaining trousers has a sewn in label bearing Bernie’s name. No doubt, whichever precious case claims that tag will be on the high end of the $250 to $500 price range.

Vaccaro said he’s tempted to start hitting up other celebrity estate auctions, but he doesn’t want to spoil the uniqueness of the Madoff collection. “People want these because he’s somebody who did something bad,” Vaccaro told the Post. “Given the economic situation of the past week, I think there’s an interest in the financial sector in Madoff that there might not be for other celebrities.”

+ The Bernie Madoff Collection by Frederick James

Via The New York Post


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