Bankrupt PC maker Artesian Builds is auctioning off nearly $1 million in inventory, including graphics cards, CPUs, and more

IT House June 21 news, the remaining PC inventory of recently bankrupt PC maker Artesian Builds will be auctioned tomorrow, including a large number of motherboards, memory kits, fans, unassembled PCs, coolers, CPUs, and even some graphics cards .

Two shipments of PC parts from the company’s California and North Carolina states will be sold via Zoom to the highest bidder. Each batch will be sold as a combined purchase, and bids must be in units of $5,000 or more.This means ordinary consumers should be left out, however other PC companies are likely to be interested in this shipmentbecause these two shipments included pretty much everything they needed to make a large number of machines.

Also included in the auction are office equipment and miscellaneous tools that at one point served Artesian Builds’ approximately 50 employees.

Allegedly,Artesian Builds held about $917,595 worth of inventory at the time of bankruptcy, since the company went bankrupt, not only have inventories been stagnant, but orders from many customers are said to have been put on hold as a result of its sudden collapse. The company has an estimated $1.37 million in outstanding orders on its final balance sheet filed in California as part of bankruptcy proceedings.

The auction also includes Artesian Builds’ intangible assets, including a brand and domain name, an influencer list of approximately 1,000 names and emails, and a trademark. It is also selling a customer list that includes the names and emails of about 10,000 buyers over the past three years, though this “subject to appointment and review by the Consumer Privacy Ombudsman”.

Artesian Builds filed for bankruptcy in April, following controversy over the live-streaming of company owner and CEO Noah Katz’s lucky draw, which may have contributed to the company’s abrupt closure, with former employees saying Katz’s inexperience as CEO may have been a problem led to the final failure of the company.

IT House understands that the money from the auction of these products will be used to pay Artesian Build’s creditor debts, which are paid in order of importance, from secured creditors to unsecured creditors. In the event of a company failure, employees may end up as senior creditors, and customers may be registered as unsecured creditors, at the bottom of the repayment order.