A change of family for family heirlooms

As I was browsing the MSNBC.com homepage as I try to do everyday, I noticed a featured video that depicted a woman wearing a huge, diamond- and emerald-encrusted necklace. This gorgeous necklace was shown on a newscast about Bernie Madoff victims who auctioned their possessions to hopefully gain back some of their wealth lost to Madoff’s schemes.

According to the broadcast, among the items auctioned were sterling silverware, a gem-encrusted ivory elephant, and artwork by Picasso and Chagall.

The 70-carat necklace is worth half a million dollars, but the opening bid on it was just $50,000. Talk about a bargain—at least for someone who can afford to spend that much on a necklace. Some of the auction pieces were family heirlooms that were to be passed down to children and grandchildren, but are now being liquidated to pay bills.

It’s always hard to see people selling precious possessions in a time of need, and jewelry is usually high on the list of things to be sold. Hopefully these pieces will be well taken care of, and since the vintage look is so popular right now, they’ll be worn and loved by whoever is blessed to own them.

-Keri

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