Elon Musk has auctioned several of Twitter’s corporate assets

It’s a fire sale of Elon Musk’s Twitter. The new owner of the social media platform is holding an auction to sell many of the company’s remaining assets and everything has to go, whether it’s chairs, couches, or a nearly 300 pound coffee machine.

Over 600 items including Twitter office supplies, furniture, and memorabilia placed on the auction block last month as Musk began his Twitter takeover with a mission to cut costs. the online biddingorganized by Heritage Global Partners Inc., officially started Tuesday and will conclude late Wednesday morning Pacific Time.

And with the variety of items on offer, casual shoppers, Twitter enthusiasts, and restaurant owners alike may all find something useful in Musk’s catalog.

Interested in not one but five authentic Italian espresso maker? A wide assortment on meat slicing machines? Industry size freezers? A big neon Twitter bird show? For all of the above and more, Elon probably has shoppers covered.

Musk’s offerings also include office supplies and furniture, but some of the items are more luxurious and high-end than most would expect in an office. The selection includes custom-made wood tables and tables as well high-end sofa chairs.

But these office supplies also have sentimental value in a company that has just begun a new turbulent chapter—and that has seen more than half of its employees laid off. Twitter alumni took to the platform this week to reminisce about the company from its early days.

Kevin Weil, a former Twitter executive, WRITES that the auctioned items reminded him of “good memories from another time.”

Some of the items come at a pretty penny for most buyers. For example, the display of the electric bird on Twitter, costs $35,000. And if you’re in the market for a meat slicer, don’t expect to find one for less than $5,000.

But Musk may be hoping things go for more, as the auction is the latest in a string of cost-cutting measures implemented by Twitter’s new owner since his $44 billion takeover bid last October.

In the nearly three months he’s been in charge of Twitter, Musk has restructured the company to cut costs. In November, Twitter Deposed about 50% of Twitter’s workforce, about 3,700 employees, while also release of outsourced content moderators and dissolution some counseling groups. Also in November, Musk directed Twitter teams to figure out how to save the company $1 billion in annual infrastructure spending by cutting cloud services and internal server space.

Since acquiring Twitter, Musk has frequently expressed his concerns about its solvency, however claims in December that the company had been on the “fast track to bankruptcy since May.” In a live forum on Twitter last month, Musk described the company as a “plane heading toward the ground at high speed with the engines on fire and the controls not working,” adding that Twitter could face a ” negative cash flow situation” of about $3 billion by 2023.

Over the past few months, Musk has presided over a steady drop on Twitter ad revenuewhich in 2021 is the reason 90% of the company’s total revenue. On Tuesday, a senior Twitter manager told employees that the company’s daily revenue was 40% lower than the same day last year, The information reportedbecause more than 500 of Twitter’s top advertisers have stopped spending on the platform since Musk’s takeover.

When the Twitter auction went live last month, Nick Dove, a representative for Heritage Global Partners, told luck that “this auction has nothing to do with their financial position.”

Heritage did not immediately respond luckThe request for comment once the bidding went live, although Ross Dove, chief executive of Heritage Global, spoke to New York Times on Tuesday that the auction could net Twitter up to $1.5 million. That number isn’t likely to “move the needle” when it comes to the company’s financial woes, he added.

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