Teresa Giudice's Bankruptcy Auction Is Canceled

Teresa Giudice's Bankruptcy Auction Is Canceled
Teresa and Joe Giudice
Mike Coppola/Getty

10/01/2010 01:25PM

Those hoping to score an antique chandelier, mahogany table or another item from the Giudice mansion are out of the luck: The Real Housewives of New Jersey star's belongings are off the market.

The auction scheduled to sell off the personal effects of Teresa Giudice and her family has been canceled, her lawyer tells PEOPLE.

Instead, the legal rep said a private sale would be held to maximize the amount of money the Giudice family receives for their valuables.

"When the sale is conducted, the Giudices would get $52,000, because they are allowed that as exemptions," their lawyer, Jim Kridel, tells PEOPLE. "There would have been a shortfall. What if they got $30,000, but they owed $52,000 to the Giudices? It wouldn't help, so we said why not have a private sale? It would be best for the state, the creditors, the trustees and the Giudices."





The reality star, who filed for bankruptcy last October, had originally denied that her belongings would be up for grabs. And, in July, Kridel said he was appealing the decision to hold an auction.

The auction, which was originally scheduled for Aug. 22, was postponed before it was canceled, although the Web site listing the items for sale is still active.

A trustee for their bankruptcy case alleged in court documents that Giudice and her husband, Joe, had hidden assets and undervalued items listed as personal property exempt from the bankruptcy filing, a claim her lawyer calls false.

“You can’t sell used, personal property for the sticker price," Kridel said in July. "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."

• Reporting by CHARLOTTE TRIGGS

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