Artesian Builds, a PC-building company that recently went bankrupt, is seeing nearly $1 million in remaining inventory auctioned off to pay off its debts.
There are two lots of parts up for grabs, which will be sold to the winning bidder on Zoom. Both lots must be sold through a combined purchase – everyone participating in the auction must bid in increments of $5,000 or more.
As a result, PC Gamer emphasizes how, of course, the general consumer market will be knocked out by the high prices, but there are other PC building companies that could be involved in the auction.
Included in the sale are some of the following items:
- 43 partially built PCs
- 413 cases
- 360 CPUs
- 359 PSUs
- 219 RAM kits
- 283 coolers
- 167 SSDs + HDDs
- 59 graphics cards (such as the GeForce RTX 3060)
- 346 motherboards
In total, the value of the inventory currently held by Artesian Builds is believed to be worth $917,595. In addition to the aforementioned PC parts, office equipment and other tools have been added to the auction. For reference, the company employed about 50 employees.
Elsewhere it was confirmed that a large number of customer orders were not fulfilled due to the abrupt end of operations. Confirmed by filing in California as a result of bankruptcy proceedings, the company’s final balance sheet lists approximately $1.37 million in unfulfilled orders.
A former Artesian Builds employee told PC Gamer that there are at least “hundreds” of pending orders for gaming PCs. Customers who have not yet received their system have had little to no success in receiving a refund, with one customer confirming that his son ordered a $5,100 PC in December 2021.
To resolve the matter, the customer finally decided to file a dispute with their credit card company, which seems to be the path many others have chosen based on the Discord server for Artesian Builds.
All items sold at auction today will be claimed directly by Artesian Build’s creditors who will then be distributed among secured creditors and unsecured creditors.
A live stream of the lottery from Artesian Builds owner and CEO Noah Katz, which was covered extensively in the media due to the stream’s controversial nature, was followed by the company filing for official bankruptcy in April 2022.
Former employees suggested to PC Gamer that Katz’s inexperience as CEO could be one of the main reasons the PC building company took a bad turn.