Are you interested in a coffee maker that was once used by Twitter Inc. employees?
Or a neon sign with its logo on it? In a fire sale that begins on Tuesday, supporters of the social media platform will have the opportunity to purchase them. The 27-hour online auction was held by Heritage Global Partners Inc. and is the most recent indication of a change in the business, which Elon Musk, a billionaire, purchased for US$44 billion last year.
The 631 lots of “surplus corporate office assets” vary from the commonplace – industrial-scale cookware and standard office furniture like whiteboards and workstations – to less common items for office auctions, such as quirky signage and more than 100 boxes of KN95 masks. A variety of designer chairs, coffee makers, iMacs, and stationary bike stations with appliance charging capabilities are all included in the mix.
The majority of the goods, including corporate mementoes like a huge Twitter bird statue and a “@” symbol sculpture planter, had beginning bids of US$25. The neon logo was the item with the highest current bid of the lot with around 20 hours left in the auction after receiving 64 bids valued at US$17,500. While the “@” sculpture received 52 bids for a US$4,100 value, the bird statue received 55 offers, raising the price to US$16,000 on the open market.
The sale, according to the organisers, is not meant to help Twitter’s financial situation. Last month, Fortune magazine was informed by a Heritage Global Partners representative that:
“This auction has nothing to do with their financial position”. The auction house was not immediately able to respond to queries sent outside normal business hours.
However, Musk, who is seeking to drastically cut costs at the business and has neglected to pay rent for another San Francisco property, which has resulted in a lawsuit, is probably happy to receive extra money. The personnel at other locations, including its Asia-Pacific headquarters in Singapore, has been requested to vacate and work from home.