Tuesday, July 27, 2010

Teresa Giudice's Belongings Up For Auction

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 August 22 at 12 p.m. (EST) at their Towaco, New Jersey, 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 TVs, 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.

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.
All said I'm a little surprised at how well the Giudice's are handling this drama in their lives (esp. considering all the notoriety it's gotten). One thing I respect about them is the love they seem to genuinely have for each other. After all it's well documented that financial difficulties are the No. 1 cause for divorce so it's my hope that the Giudice's can get through this together and more importantly learn from their mistakes and be more responsible with their finances--the future of their daughters depends on it.