Why did Elon Musk’s Twitter auction off a neon bird sign, coffee makers and N95 masks?


Go once, go twice, and sell out!  Why did Elon Musk's Twitter auction a neon bird sign, coffee makers and N95 masks?

Twitter headquarters in San Francisco. The 27-hour auction saw more than 631 lots sold. AP

People have auctioned the most bizarre items — from John Lennon’s molar to a piece of cake from Queen Elizabeth II’s wedding in 1947. Now, one can add items from Twitter’s offices to that list.

Yes, you read that right: If you’ve ever wanted a six-foot-tall statue of the @ sign or an espresso machine used by the social media giant’s employees, an auction is the place to go.

Here’s a look at what was available in the bid pool and what it meant for Elon Musk’s acquired company.

What is for sale?

The 27-hour auction, which began on Tuesday, was organized by Heritage Global Partners.

According to the company organizing the sale, 631 lots of the company’s “surplus office assets” were available for bidding and the prices ranged from $25 (Rs. 2,033) to $15,000 (Rs. 12.2 lakh). Everything from an electric neon sign prominently displaying the company’s bird logo, which attracted a bid of $17,000 (Rs 13.83 lakh), to boxes of N95 masks have been placed in the bidding pool.

Going Once Sold Twice Why Elon Musks Twitter Auctioned Neon Sign Coffee Makers and N95 Masks

Planter in the form of the @ symbol located in the bid field. Image courtesy: hgpauction

The auction also featured a bird statue, which had a bid of $16,000 (Rs. 13,000); a six-foot-tall decorative planter in the shape of an ‘@’ symbol (bids were up to $4,100 (Rs. 3.3 lakh)); and five espresso machines made by Italy’s La Marzocco, one of which attracted a bid of $11,000 (Rs. 8.95 lakh).

Besides these items, furniture items like conference table made of reclaimed wood were also up for grabs and the latest bid closed near $10,500 (Rs. 8.5 lakh). Other high-end furniture, including the Knoll womb chair, molded plywood Eames lounge chairs, and the Erik Jørgensen Savannah two-seater sofa, were also listed on the auction site.

More than 20,000 people have signed up to bid — more than any of the thousands of auctions the company has conducted over its 90 years in business, said Ross Duff, CEO of Heritage Global, which runs the auction.

He was quoted as saying The New York Times, “Originals is really good because they bought the best of the best, but I don’t think we could have had that crowd without being dazzled by Twitter.” Speaking of Musk, he added, “Everything he does draws attention.”

Going Once Sold Twice Why Elon Musks Twitter Auctioned Neon Sign Coffee Makers and N95 Masks

The high-end La Marzocco espresso machine has attracted a bid of $11,000 (Rs. 8.95 lakh). Image courtesy: hgpauction

Why auction though?

While Heritage Global Partners stated that the auction, which is expected to fetch around $1.5 million (Rs. 12.2 crores), has nothing to do with the company’s financial condition, the timing of the auction cannot be ignored.

They sold for $44 billion, and we’re selling two chairs, desks, and computers. So, if anyone really thinks that the proceeds from the sale of two computers and a chair will pay for the mountain there, then they’re an idiot,” he was quoted as saying. luck.

Also read: The real reason why Elon Musk changed and bought Twitter

where Elon Musk took over the company in October last year , Billionair He is racing to cut costs — with drastic steps such as laying off half of the company’s 6,000 workers and suspending rent payments for offices. Twitter allegedly failed to pay rent in offices around the world, including their San Francisco headquarters, where it is suing its landlord for non-payment.

In an effort to increase revenue, he also introduced the $8 subscription service called Blue Twitter. However, the social media giant continues to waste money and the situation has become more dire with advertisers pulling ads due to Musk’s hands-off approach to content moderation.

Also Read: Mass Layoffs, Office Rent Failing, Items Auctioned: How Elon Musk Cuts Costs on Twitter

In fact, the company’s financial health has been making headlines recently, as Musk told employees, according to News agency report, there is a “good chance that Twitter will not survive the coming economic downturn”.

Reports also surfaced early last week that the company was considering selling usernames as a way to increase revenue. a The New York Times The report said that engineers at the company were considering organizing online auctions where people could place bids on usernames, also known as handles. It is unknown if the idea will come to fruition, and if it does, it is unclear if the plan will affect all usernames or just some of them.

There have also been reports that Twitter has sold some of its blue hashtags to Twitter Taliban, a decision that was reversed after receiving criticism online. According to the Guardian, two prominent Taliban leaders – Hedayatullah Hedayat and Abdul Haq Hammad – lost the blue tick from their Twitter accounts shortly after the public noticed it and criticized the social media company for doing so.

With input from the agencies

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