Bankrupt PC maker Artesian Builds auctions nearly $1 million in stock TechRadar

In context : Artesian Builds, a PC building company that recently declared bankruptcy following a contentious live raffle in which its CEO made some very questionable decisions, is auctioning swaths of hardware tomorrow on Zoom.

PC Gamer reports that parts from the company’s locations in California and North Carolina include numerous graphics cards, processors, power supplies, storage devices, motherboards, and even partially integrated PCs. The lots are being sold as combination buys with minimum bids of $5,000 or more – Artesian Builds reportedly held $917,595 worth of shares at the time of its close – so the auction is likely to attract other PC builders rather than everyday consumers.

A former employee said Artesian Builds was closing with hundreds of open orders for pre-built gaming PCs — its balance sheet put the figure at $1.37 million — and some customers were struggling to get their money back. How far the stock sale will go to solve this problem is unclear.

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The auction also includes Artesian Builds’ intangible assets: its business and domain names, an influencer list of approximately 1,000 names and emails, and a brand. It also sells a customer list of around 10,000 names and emails of buyers from the last three years, although this is “subject to the requirement of appointment and review by a consumer privacy ombudsman”. .

Things quickly went downhill after one of Artesian Builds’ PC build live streams when it announced that a small affiliate streamer called Kiapia was the winner of a PC giveaway. However, CEO Noah Katz decided to withhold the award because Kiapia’s total number of social media followers was less than 5,000. He then “purged” the streamer from the competition because “that person had three months of “ambassador and not a single click”.

Katz eventually apologized following the backlash and offered Kiapiaa the PC, which was declined, but the damage was done. It wasn’t long before Artesian Builds announced that it was looking into a potential employee buyout of the company and froze all operations.

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