Elon Musk-owned Twitter will be holding a year-end auction to eliminate some of the surplus items it has in its San Francisco office.
The items in the auction are listed on the website BidSpotter under the heading “Online Auction Sale Featuring Surplus Corporate Office Assets of Twitter,” reports Fortune.
Twitter will sell kitchen equipment, electronics, furniture, and memorabilia online, and the bid prices are $25 and $50.
The bidding begins on January 17, 2023, at 7 a.m. PT and ends on January 18 at 10 a.m. PT, according to BidSpotter.
There are several types of office chairs, cabinets, espresso machines, iMacs, coffee grinders, steam tilting kettles, pizza makers, electric, bakery ovens, freezers, mobile heated cabinets, ice-making machines, fryers, laser projectors and additional items that have been put on sale.
Also Read: What Elon Musk’s 2-Year-Old Son Was Doing At Twitter Headquarters; Why The Company May Now Be Hiring
In an interview with Fortune, Nick Dove, president of Heritage Global Partners (HGP), the company conducting the auction, said the sell-off is not related to Twitter’s finances.
“They’ve sold for 44 billion, and we’re selling a couple of chairs, desks, and computers,” Dove told the outlet.
“So if anyone genuinely thinks that the revenue from selling a couple of computers and chairs will pay for the mountain there, then they’re a moron,” he said.
Musk is aiming to reduce the company’s costs, not only because Twitter is facing a high burn rate, but also because he needs to repay the $13 billion in debt he raised to swing the takeover.
Twitter posted a net loss of $270 million in the second quarter that ended June 30, 2022, compared to a profit of $66 million in the same period last year.
Photo: Courtesy of shutterstock.com and Thomas Hawk on flickr
Image and article originally from www.benzinga.com. Read the original article here.