Bankrupt Teresa Giudice's Belongings up for Auction on Aug. 22

Bankrupt Teresa Giudice's Belongings up for Auction on Aug. 22
Teresa Giudice
Bravo

updated 07/26/2010 at 01:00 AM EDT

originally published 07/26/2010 01:00AM

Teresa Giudice said she and her husband had filed for bankruptcy last October to get “a fresh start” but now they’ll have to watch their personal belongings get sold at auction.

In June, a trustee for their bankruptcy case alleged in court documents that the Real Housewives of New Jersey star and her husband Joe had hidden assets, including profits from her book Skinny Italian and his stake in a pizzeria, which was also featured on the Bravo show.

The trustee, John Sywilok, also accused the pair of undervaluing items listed as personal property exempt from the bankruptcy filing, including a pool table ($1000) and even their wedding bands ($400).

Now, those items will be going up at auction on Aug. 22 at 12 p.m. (EST) at their Towaco, N.J., mansion.



An auction Web site with information on the listing details and depicts the various items that will be for sale, including a Schaefer & Sons grand piano, two flat-screen televisions, several ornate chairs and sofas, a large ceramic urn, decorative fireplace accessories, a foosball table, a faux marble chess set, a suit of armor and at least three chandeliers.

A Sea-Doo Bombardier X20 Jet Boat and a snow plow are also listed among the items set to be auctioned off.

(See the items up for auction here.)

Reached by PEOPLE last week, an attorney for the Giudices, Jim Kridel, said he hoped an auction wouldn’t take place, and also said the couple had not mislead the court about their assets at the time of their bankruptcy filing.

He also denied that their had undervalued their personal property, saying, “You can’t sell used, personal property for the sticker price. A $5,000 chandelier won’t sell for $5,000. Nobody will buy a used mattress. The real issue in bankruptcy is, what’s the value of everything? And at the time of the bankruptcy, these things didn’t have any value.”

Although Giudice denied that her belongings will be auctioned through her rep, her attorney, Kridel, said that the auction is currently slated for Aug. 22, but adds that he is appealing the decision.

“Obviously we have objections to what they’re trying to do,” he says, noting that many of the items listed were purchased after the bankruptcy filing with money earned post-petition, meaning they should not be included among the bankruptcy assets.

“I don’t think Teresa is happy seeing all her belongings displayed on the Internet,” he says, adding that she feels it should have been handled in court before being made public. “Clearly they are under the microscope because they are famous.” – Charlotte Triggs

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