Twitter is auctioning off “surplus corporate office assets”, which include an espresso machine and a neon logo display, in what is being seen as an indication of financial distress at the firm. The 27-hour online auction has been organised by Heritage Global Partners Inc. A total of 631 lots are up for auction and include both regular stuff and some pretty expensive items. There is kitchenware typically used at the industrial level and basic office furniture like whiteboards and desks. You can also get your hands on signage, such as a neon logo, and more than 100 boxes of KN95 masks.
There are also designer chairs, coffee machines, iMacs and even stationary bike stations where you can charge appliances.
Starting bid of most items has been set at US$25. This includes a big blue bird statue and a planter in the shape of “@” symbol. There are 20 hours left in the auction, with the neon logo having received 64 bids valuing it at US$17,500, the highest current bid of the lot.
The bird statue had 55 bids and it is currently valued at US$16,000. The “@” sculpture had 52 bids at a value of US$4,100.
Elon Musk, who spent $44 billion to acquire the company, has been trying to reduce running costs of the firm and has implemented jobcuts. He has also been sued for failing to pay the rent of a San Francisco address. The staff at Twitter’s Asia-Pacific base in Singapore have also been asked to shift to working from home.
However, organisers of the auction say that the sale is not intended to raise money. A representative of Heritage Global Partners had told Fortune magazine last month that “this auction has nothing to do with their financial position”.
(With inputs from agencies)
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