Now, if hundreds of investors such as George Grabek are lucky, they might get back pennies on the dollar through eBay auctions and other sales of property that belonged to Wise or his seized and shuttered bank.

The sales are being set up by a court-appointed receiver who says that more than 30 items of jewelry, each worth more than $10,000, could attract "sophisticated buyers" through initial private sales, while the lesser loot would sell better on eBay.