Among the goods to go under the hammer are a Steinway & Sons grand piano, a woman's ring with a 10.54-carat diamond and a miniature bronze bull, USA Today reported.
The money raised from the sale will go towards compensating victims of Madoff's multi-billion dollar fraud. More than 400 items will be auctioned.
Last year, a sale of other Madoff items, including a New York Mets baseball jacked with Madoff's name on the back, raised about $1 million. Authorities also hope to raise more than $23 million by selling Madoff's real estate.
Still, the proceeds are tiny compared to the claims. As of Oct. 15, a court-appointed trustee has allowed nearly $5 billion in claims by Madoff's victims, who included many charitable foundations and wealthy individuals.
Madoff himself is serving a 150-year prison term.