Piece's resale will benefit two charities, details on new CIRCA blog

NEW YORK, Nov. 23 /PRNewswire/ -- In recognition of the damage inflicted on investors by financier Bernard Madoff's decade-long Ponzi scheme, CIRCA, the largest global buyer of jewelry from the public, recently spent $50,000 in a U.S. Marshals-held jewelry auction designed to benefit Madoff's investor victims.

(Photo: http://www.newscom.com/cgi-bin/prnh/20091123/NY16084)

CIRCA purchased an Art Deco diamond and emerald bracelet for twice the piece's appraised value of $25,000. The piece, made in 1925, has six emeralds surrounded by approximately 25 carats of diamonds. Art Deco pieces are very collectible and often garner significant attention at auctions -- regardless of their previous owners.

"We felt obliged to participate in this event to help Bernie Madoff's many victims reclaim a small part of what they lost in the largest Ponzi scheme in history," said Chris Del Gatto, co-founder, chairman and CEO of CIRCA. "Some of these victims have come to CIRCA because they unfortunately have been forced to sell their jewelry. As someone who has witnessed the devastation that many of these people feel, I think it's fitting that Madoff's estate be sold for their benefit."

For more about the piece and the auction, visit the CIRCA Blog: http://blog.circajewels.com.

To maximize the benefit of buying the bracelet, CIRCA will donate a portion of the resale proceeds to two deserving charities: the Gift of Life Bone Marrow Foundation in Florida, which lost almost $2 million by investing with Bernie Madoff, and the Breast Cancer Research Foundation, which CIRCA has supported since 2002. CIRCA also encourages its clientele and the public to donate to these worthy organizations at the following Web sites: http://www.giftoflife.org and http://www.bcrfcure.org.

About CIRCA, Inc

CIRCA Inc., a privately held company, is the leading international buyer of fine jewelry, diamonds and watches from the public and the trade. Established in 2001, CIRCA is the only international jewelry-buying house worldwide. With that distinction, CIRCA is able to provide a liquid market for previously owned jewelry of all types. CIRCA is headquartered in New York City with offices in Palm Beach, San Francisco, Chicago, Washington DC, and Hong Kong--and forthcoming expansions in Los Angeles, Miami, Boston, Atlanta, Houston, Dallas, Paris, London, and Geneva. For more information, please visit www.circajewels.com.

About the CIRCA Blog

The CIRCA Blog, which is updated daily, is dedicated to providing much-needed transparency in the jewelry resale market. The blog attempts to de-mystify the process of selling fine jewelry, diamonds and watches by providing expert insights into how the secondary market values jewelry. It showcases some of the iconic jewelry that CIRCA purchases, as well as happenings from within the industry. You can also follow CIRCA on Twitter.

SOURCE CIRCA Inc.

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http://www.circajewels.com