Some Bernie Madoff's most prized possessions went on the auction block Wednesday in Florida, and all for a good cause.

The estate auction was held at the Kodner Galleries in Dania Beach, and featured jewelry, silver, antiques and artwork from Picasso and Marc Chagall.

The money raised from the auction will go to benefit victims of the hedge fund scandal.

Madoff confessed to a massive fraud scheme that cost investors at least 50-billion dollars, according to federal authorities.

Officials say this may be the largest fraud ever blamed on a single individual.