PC Builder Auctions Off $1 Million Worth of Stock After Bankruptcy, Shortly After Controversial Raffle Livestream

Artesian Builds has just declared bankruptcy shortly after holding a "controversial livestreamed raffle" wherein its CEO made some questionable decisions. The company will be holding an auction for its hardware on Zoom.

PC Builder Company Auctions Off Close to $1 Million Worth of Stocks

As reported by PC Gamer, the hardware expected to go on auction include PSUs, CPUs, GPUs, storage devices, motherboards, and "even partially built PCs." There will be a lot of hardware auctioned off with bids that will start at a minimum of $5,000 increments or more.

According to the story by Tech Spot, the company reportedly has close to a million dollars worth of stock. The auction is expected to attract some other PC-building firms instead of targeting the everyday consumer.

Despite Bankruptcy, Company has a Bank Sheet of Prebuilt Gaming PC Orders at $1.37 Million

Artesian Builds released a Twitter post to announce that the company has entered bankruptcy and that it is auctioning off its inventory. The tweet invited interested parties to participate in the auction for the bankrupt company's remaining supply.

A former Artesian Builds employee is closing with "hundreds of outstanding orders for prebuilt gaming PCs while some customers are still trying to get their money back. Despite the bankruptcy, the bank sheet of these prebuilt gaming PC orders puts a figure at $1.37 million.

Company Also Wants to Auction Off Names and Emails of Customers

Aside from just hardware, Artesian Builds is also going to auction off its intangible assets, which include its business and domain names and even the list of around 1,000 influencer names and emails. Artesian Builds is also auctioning off its trademark.

The bankrupt company will be auctioning off a list of customers amounting to about 10,000 names and emails of the buyers it has gathered over the last three years. The information, however, is still subject to the requirement of appointment and review by a particular consumer privacy ombudsman before the list is auctioned off.

How Artesian Builds Treated a Small Time Streamer

As described by Tech Spot, there was a particular event that sparked the downhill trajectory of the company. One of the Artesian Builds' PC-building livestreams announced that the winner of its affiliate streamer PC giveaway was Kiapiaa.

Noah Katz, the CEO of Artesian Builds, however, decided to hold back the prize due to Kiapiaa only having a social media follower count of less than 5,000. He then decided to "purge" the streamer from the competition, saying the person has been an ambassador for three months but had not brought in a single click.

Read Also: Razer Kishi is $45 Off on Amazon; This is Not A Drill-Is It Time to Upgrade?

Small Time Streamer Took It to Twitter to Share the Story

Kiapiaa obviously decided not to stay silent and posted a thread on Twitter regarding how the company does not care about small streamer ambassadors. Despite less than 5,000 followers on social media, the thread was able to gain 32.8k likes on Twitter.

This article is owned by Tech Times

Written by Urian B.