Schrenker's personal items going up for auction
Chris Proffitt/Eyewitness News
Geist - It was an ad in the Sunday newspaper that said it all: An auction of personal belongings of Marcus and Michelle Schrenker. The former money manager crashed his plane into a Florida swamp in a bid to fake his death and rode off on his 2008 Yamaha motorcycle - the very one up for bid.
"The collection, as a whole, says a lot about the lifestyle and the kind of life they were leading and it's really tragic when you see that," said Tim Boeglin of Key Auctioneers.
A lifestyle allegedly financed with clients' stolen money. Cash that helped pay for a baby grand piano, lavish furniture, a $32,000 diamond ring and so much more. The court-appointed sale of the couple's assets will be distributed to creditors and victims of Schrenker's former financial services business. Items from that company are also up for bid.
The Schrenker's Geist house was sold while Marcus Schrenker remains in jail awaiting trial on charges in Indiana.
The auction of the couple's personal property is one of the last tragic chapters in a story with many alleged victims. Bill Black invested over $500,000 with Schrenker.
"He and Michelle are like a niece and nephew and, at the same time, he has to be held accountable for his actions," said Black.
Auctioneers are counting on Schrenker's notoriety to attract bidders, perhaps as many as a thousand.
"He made worldwide headlines and our job is to generate the maximum revenue that we can for the creditors and victims, so that's our job," said Boeglin.
The auction is Saturday, June 26 with a preview the day before. It's expected to be one of the biggest auctions in recent history.
An Indianapolis auction house is set to unload hundreds of items belonging to disgraced money manager Marcus Schrenker.
You can bid on everything from his wife's $32,000 diamond ring to the motorcycle he used to escape police. The diamond jewelry, a baby grand piano and that infamous motorcycle all belonged to the former Geist money-manager.
Now, it's all going up for auction.
Key Auctioneers is holding a court-ordered auction of Schrenker's business and estate assets on Saturday, June 26. The hundreds of items are pictured online, including a boat, several guns, electronics and truck-loads of elegant furnishings from the Indiana mansion where Schrenker used to live.
There are literally pages upon pages of photos of Schrenker's belongings on the auction house website. A newspaper ad about the auction even highlights the financial manager's fall from grace.
Buy the "getaway" motorcycle, it says, used by Marcus Schrenker to evade authorities in Florida. The ad also shows the 29-foot boat docked at his home in "Cocktail Cove".
Schrenker has already been sentenced to four years in prison for crashing his plane while trying to fake his own death. In October, he goes on trial for financial fraud charges in Hamilton County. Schrenker is accused of bilking investors out of more than a million dollars.
Now his own prized possessions, the material wealth from his high-flying lifestyle, will all go to the highest bidder.