Twitter auctions coffee makers, neon logo as Musk struggles to pay rent

The 27-hour online auction, conducted by Heritage Global Partners Inc, is the latest sign of turmoil at the company, which was acquired by billionaire Elon Musk last year for $44 billion.

631 lots of “surplus corporate office property” ranging from the mundane – industrial-scale kitchenware and typical office furniture such as whiteboards and desks – to less typical office fare, such as quirky signage and more than 100 boxes of KN95 masks. In the mix are a range of designer chairs, coffee machines, iMacs and stationary bike stations capable of charging devices.

Most of the items had starting bids of $25, including company memorabilia such as a large Twitter Bird figurine and an “@” symbol sculpture planter. With about 20 hours remaining in the auction, the neon logo had received 64 bids valued at $17,500 – the highest current bid of the lot. The bird statue had 55 bids, bringing the price to $16,000, while the “@” sculpture had 52 bids for a $4,100 price.

The organizers have said that the purpose of the sale is not to shore up Twitter’s financial position. A representative for Heritage Global Partners told Fortune magazine last month that “this auction has nothing to do with their financial situation.” The auction house was not able to immediately respond to questions sent after normal business hours.

Still, more cash is welcome for Musk, who is desperately trying to cut costs at the company, and has failed to pay rent for another San Francisco address, attracting a lawsuit. . Other offices, including its Asia-Pacific base in Singapore, have not been spared either, with employees there asked to travel and work from home.

Twitter, which no longer has a media relations team, did not respond to emailed queries from Bloomberg News.

The text of this story is published from a wire agency feed without any modification.