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

midian182

Posts: 7,919   +82
Staff member
In context: Artesian Builds, a PC-building company that recently declared bankruptcy following a controversial livestreamed raffle in which its CEO made some very questionable decisions, is auctioning off swathes of hardware tomorrow on Zoom.

PC Gamer reports that the parts from the company's California and North Carolina sites include many graphics cards, CPUs, PSUs, storage devices, motherboards, and even partially built PCs. The lots are being sold off as combined purchases with bids in minimum increments of $5,000 or more—Artesian Builds is said to have held $917,595 of stock at the time of its closure—so the auction is likely to attract other PC-building firms rather than everyday consumers.

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

The auction also includes Artesian Builds' intangible assets: its business and domain names, an influencer list of around 1,000 names and emails, and a trademark. It's also selling a customer list of about 10,000 names and emails of buyers from the last three years, though this is "subject to requirement of appointment and review by a consumer privacy ombudsman."

Things went rapidly downhill following one of Artesian Builds' PC-building livestreams when it announced a small-time affiliate streamer called Kiapiaa as the winner of a PC giveaway. However, CEO Noah Katz decided to withhold the prize because Kiapiaa's total social media follower count was fewer than 5,000. He then "purged" the streamer from the competition as "this person has had three months of ambassadorship and not a single click."

Katz eventually apologized following the backlash and offered Kiapiaa the PC, which was refused, but the damage had been done. It wasn't long before Artesian Builds announced it was examining a potential employee-led buy-out of the company and freezing all activities.

Permalink to story.

 

noel24

Posts: 806   +1,066
Never heard of Them, but was it really"controversial livestream", or maybe They just realized They could never recoup in sales those shiny last gen hardware while the prices are falling? I see local e-market flooded with used 2060s and 2070s at prices of new 3060s and 6600XTs, Retarded homegrown miners trying to sell to retarded consumers.
 

NeoMorpheus

Posts: 1,147   +2,313
And why the first photo is a boatload of nvidia gpus?

Oh I see....nevermind.

Anyways, it sucks for the people that paid for systems with them and might not get their money back.

Kind of weird, they should at least get their parts and perhaps build the system themselves.
 

RedBear

Posts: 48   +40
Quick! Buy a bulk of GPUs, you can probably get all of them under MSRP.
GPUs prices are falling at the moment and all those GPUs will get obsolete near the end of the year at any rate, so I'm not sure it's really such a good time to speculate on GPU prices.
 

Freddie159

Posts: 107   +72
GPUs prices are falling at the moment and all those GPUs will get obsolete near the end of the year at any rate, so I'm not sure it's really such a good time to speculate on GPU prices.

Unless you really want to be on the cutting edge buying brand new still in the box todays model gpu's under MSRP isn't a bad idea, it really depends on what you are going to do with them. ie if you are a business making pc's or selling those same gpu's you just made some healthy profit off of people not looking to spend a fortune on a tip of the spear gpu, or even wait for the next latest and greatest one(s).
 

Avro Arrow

Posts: 2,373   +2,889
TechSpot Elite
And why the first photo is a boatload of nvidia gpus?
Because the guy who ran Artesian is an asshat and asshats sell only nVidia. :laughing:
Anyways, it sucks for the people that paid for systems with them and might not get their money back.
When you lay down with dogs, you get bit.
Kind of weird, they should at least get their parts and perhaps build the system themselves.
Welcome to capitalism, where the rich always get their pound of flesh before the non-rich!
 
LOL a bankrupt company trying to sell off their pc parts with outstanding $1.3mil worth of orders. Yeah no, unless it's in-person, I wouldn't bother bidding it. You'd just get scammed and what are you gonna do? file a lawsuit against a company that's gone bankrupt? GL with that.
You'd be considered lucky if they even ship you a heavy used mining GPUs lmao.
 
Most of these PC building companies try to bait you with "only $100" build fee.
Either you pay a ridiculous amount of money for a toaster PC or pay and never get your dream pc.
It's sad how targeting blind consumers will always work.
 

thew118

Posts: 10   +5
Any update on auction results? It was supposed to go down today (per page 2 of the legal document they posted to twitter on 6/17).