Fraudster Bernard Madoff's underwear sold for $200

The auction also included household goods, shoes, golf clubs and artwork

Underwear which once belonged to jailed fraudster Bernard Madoff have been sold for $200 (£120) as part of an auction of items confiscated from his mansion.

The event also saw the sale of furniture and household goods, shoes, golf clubs and art, US media report.

Organised by the US Marshals Service, the $400,000 raised will go towards victims of Madoff's $65bn fraud.

Madoff is serving a 150-year jail sentence after being convicted in 2009.

His ponzi scheme, which had been running since the early 1990s, deprived thousands of investors of their savings.

'Rolex watch'

Madoff is serving a 150-year jail term for fraud

According to the Miami Herald, 14 pairs of Madoff's boxer shorts, confiscated from his Palm Beach mansion, fetched a total of $200.

"It went about as expected," the newspaper quotes auctioneer Bob Sheehan as saying.

"When we sold the stuff from his house in New York, it brought in millions, but that included boats and cars and jewellery. This one was mostly household goods."

Another buyer paid $31,000 for Madoff's 1952 Rolex watch, while a work entitled "Nude" by photographer Edward Weston sold for $4,600.

About 6,000 online bidders took part in the auction along with 150 people who attended in person.