A rather unusual Florida property has been listed for sale in the US, offering buyers with very deep pockets the chance to own a little bit of history.

Federal authorities have placed a Palm Beach Florida property up for sale for a cool $8.49 million (£5.19 million) after seizing it from Bernard Madoff, instigator of the world’s biggest Ponzi scheme, which defrauded investors out of an estimated $65 billion.

David Fite of Fite Shavell and Associates Palm Beach Real Estate tells Bloomberg the 8,750-square-foot Florida property is unlikely to remain in its current condition once sold.

He commented: "People will be underwhelmed when they see the Palm Beach house. The location is great but the house is so dated it will probably be knocked down."

However, he adds, this may prove no bad thing as "a lot of people would love to see that happen to Bernie Madoff’s home".

Proceeds from the sale will go towards compensating some of Madoff’s victims, according to the authorities.

Ponzi schemes are illegal pyramid schemes which pay back investors from their own investment or monies gained from subsequent investors.

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