Bankrupt PC builder Artesian Builds is auctioning off almost $1 million worth of stock

Bankrupt PC Builder Artesian Builds To Auction Nearly $1M In Stock

In context: Artesian Builds, a PC-building company that recently filed for bankruptcy after a controversial livestream lottery in which its CEO made some very questionable decisions, is auctioning a large number of hardware on Zoom tomorrow.

PC gamer reports that the parts of the company’s California and North Carolina locations include many graphics cards, CPUs, PSUs, storage devices, motherboards, and even partially built PCs. The lots are being sold as combined purchases with bids in minimum increments of $5,000 or more — Artesian Builds would have held $917,595 in inventory at the time of closing — so the auction is likely to attract other PC builders rather than everyday consumers.

A former employee said Artesian Builds is closing with hundreds of pending orders for prebuilt gaming PCs — the balance puts the figure at $1.37 million — and some customers are struggling to get their money back. How far inventory sales will go to address this issue is unclear.

The auction also includes Artesian Builds’ intangible assets: the company and domain names, an influencer list of approximately 1,000 names and emails, and a trademark. It also sells a customer list of about 10,000 names and emails from buyers from the past three years, although this is “subject to agreement and review by a consumer privacy ombudsman.”

Things quickly went downhill after one of Artesian Builds’ PC building livestreams, when it announced a small affiliate streamer called Kiapiaa as the winner of a PC giveaway. However, CEO Noah Katz decided to withhold the award because Kiapiaa’s total number of social media followers was less than 5,000. He then “removed” the streamer from the competition because “this person has had three months of ambassadorship and not a single click.”

Katz eventually apologized after the response and offered Kiapiaa the PC, which was declined, but the damage was done. It wasn’t long before Artesian Builds announced it was investigating a possible employee-led takeover of the company and was freezing all operations.

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