February 9, 2023

Twitter has been in turmoil since Elon Musk took over in October, as he aggressively cut costs, fired half of the company’s full-time workforce and looked for new ways to boost revenue.

Right now, Twitter is up for auction surplus business assets From its San Francisco headquarters, ditch the artifacts of a just bygone era in Bay Area tech. While the online auction doesn’t herald the end of Twitter, the collectibles evoke a more prosperous era when the company’s tastes reflected its status as a sought-after employer in the tech world.

This 631 lots include a blue light display Bird logo shaped like Twitter attracts more than $17,000 in bids; a bird statuebid $16,000; a six-foot trim A flowerpot shaped like an “@” sign (bids up to $4,100); and five espresso machine Made by the Italian company La Marzocco, one was offered for $11,000.

Ross Dove, CEO of Heritage Global, the parent company of Heritage Global Partners, which is in charge of the auction, said more than 20,000 people had registered to bid online, more than any of the thousands of auctions the firm has handled in 90 years. A game in business.

He said the number of registered bidders had even “surprisingly exceeded” previous high-profile auctions, such as those that sold items after the collapse of Enron, Solyndra and Dressel Burnham-Lambert.

“The assets are really good because they’ve acquired the best of the best, but I don’t believe we wouldn’t have this many people without the obsession with Twitter,” Mr. Dove said. Referring to Mr. Musk, he added, “Anything he does gets attention.”

Mr. Dove said he expects the auction to net Twitter about $1.5 million when it begins Tuesday and ends Wednesday. For a company that Musk bought for $44 billion, the money wouldn’t “play a role,” Dorff said. But he said it was still “good corporate governance” for any company to auction off surplus equipment.

“If you’re not going to use the espresso machine because you have something extra,” Mr. Dove said, “why would you keep it?”

Twitter, which no longer has a communications unit, did not respond to a request for comment on the auction on Tuesday as the company has been cutting costs to stabilize its finances.

In December, the New York Times reported that Twitter had stopped paying rent on its Seattle offices and was at risk of eviction, citing two people familiar with the matter. Cleaning and security services have also been cut, and in some cases employees have had to bring their own toilet paper to the office.

Now, as Twitter sells lounge chairs, tables and restaurant-grade deli slicers and blenders, some people who knew the company in pre-Musk days are experiencing a wave of nostalgia.

“It’s great to see Twitter’s offices being auctioned off,” ex-Twitter exec Kevin Weil said. wrote on twitter, as he marveled at the items. “Conference room tables, phone booths, chairs, monitors… even a Twitter bird statue. Great memories from a different era.”

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