Denny Hecker's watches fetch $294,500 at auction
Denny Hecker wasn't born rich, but, with apologies to F. Scott Fitzgerald, he's still different from most folks. His watches alone have fetched $294,500 at a bankruptcy auction. A diamond-festooned Rolex "Datejust," brought in $24,100, the PiPress reported.
The 71 watches were just decorations in Hecker's once over-the-top auto mogul lifestyle. So the sale got us wondering about what else $294,500 would buy.
For starters, it would pay for putting a roof over your head in Minneapolis, where the median home price is $221,672, while still have plenty left over to pay property taxes.
The sale would cover the average $49,000 salary of six Minneapolis school teachers for a year.
While it's fun to think about what you might do with more than a quarter-million dollars, in the big picture of Hecker's $767 million bankruptcy filing this is all a drop in the bucket.
The Radde of Radde & Sons Auction House in New Germany figures it has raised a little less a million dollars in its five auctions of Hecker's assets.
And Randy Seaver, the court appointed bankruptcy trustee, has said that auctions and sales of Hecker's assets have brought in about $2.5 million.
Hecker, meanwhile, is scheduled to be sentenced on federal fraud and conspiracy charges early next year. He'll likely be marking time in federal prison not long afterwards.
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