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Twitter Auctions Coffee Machines As Elon Musk Struggles To Pay Rent

Twitter's 27-hour sellout as Elon Musk struggles to pay rent

The 27-hour online auction is the latest sign of business upheaval

Fancy an espresso machine once used by Twitter Inc. employees? Or a neon display of its logo? Fans of the social media company have the chance to get their hands on it during a discount sale of items from its San Francisco headquarters starting Tuesday.

The 27-hour online auction, organized by Heritage Global Partners Inc., is the latest sign of upheaval for the company, which billionaire Elon Musk acquired for $44 billion last year.

The 631 lots of “corporate office surplus assets” range from the mundane — industrial-scale kitchenware and typical office furniture like whiteboards and desks — to less typical office auction pricing. , such as original signage and more than 100 boxes of KN95 masks. The mix also includes a range of designer chairs, coffee machines, iMacs and stationary bike stations capable of charging devices.

Most items, including memorabilia from the company like a large Twitter bird statue and a sculpture planter with the “@” symbol, had starting bids of $25. With approximately 20 hours remaining in the auction, the neon logo had received 64 bids valuing it at $17,500 – the current highest bid of the lot. The bird statue had 55 bids, pushing the price to $16,000, while the “@” sculpture had 52 bids worth $4,100.

Organizers said the sale was not intended to shore up Twitter’s finances. A representative for Heritage Global Partners told Fortune magazine last month that “this auction has nothing to do with their financial situation.” The auction house was unable to respond immediately to inquiries sent outside normal business hours.

Still, more money is likely welcome for Musk, who is trying to drastically cut costs at the business and has failed to pay rent for another address in San Francisco, drawing a lawsuit. Other offices, including its Asia-Pacific base in Singapore, were also not spared, with staff there told to empty and work from home.

Twitter, which no longer has a media relations team, did not respond to email inquiries from Bloomberg News.

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