Items From Convicted Swindler Tom Petters Up For Auction

Updated: 10/16/2012 11:35 AM By: Ellen McNamara

Memorabilia owned by Tom Petters is going to the highest bidder and the money made will go to the victims he stole from.

The auction at Luther Auctions in North St. Paul happened Monday night and the auction room was packed with people.

The room filled with items that used to belong to Petters gives people like Barb Gruber, a glimpse into the extravagant life of Petters.

"I just think it's pretty excessive for someone," Gruber said.

Petters is a man Gruber and many others do not respect.

"I'm amazed that someone lived like that and thought it was normal," Gruber said.

While Petters serves a 50 year prison sentence in Kansas for running a 3 plus billion dollar ponzi scheme, the things he bought, possibly with other people's money, are on the auction block.

Items like a signed Brett Favre football, more than half a dozen signed Vikings jerseys, an original painting by Leroy Neiman, and boxing gloves signed by Sugar Ray Leonard.

Tracy Luther has been in the auction business for nearly 20 years. He says selling a piece of art called "Benjamin" is a first.

"One of the most interesting things is a dog covered in money by a London artist," Luther said. "Not sure why he got it, but it's only two of eight that were made."

The auction company is not sure how many benjamins the pooch will go for, but hopes the sale will help pay back the people who lost their life savings.

"Our goal is to get as much as we can for the victims," Luther said.

A U.S. Marshal at the sale says it's estimated Petters still owes his victims about 3.9 million dollars.

Items owned by radio personality 'Dark Star', who died earlier this year, are also being auctioned. A number of Dark's baseball cards were bid on.

Click here to view a slideshow of the items up for auction.