Artesian Builds, a PC building company that recently entered bankruptcy, will see nearly $1 million of remaining inventory auctioned off to pay off its debts.
As reported by PC Gamer, massive amounts of various PC components such as motherboards, RAM kits, fans, pre-built PCs, coolers, CPUs, and GPUs are due to be sold today at an auction.
There will be two batches of parts that are up for grabs, which will be sold to the winning bidder on Zoom. Both of these lots are required to be sold via a combined purchase — anyone participating in the auction will need to make a bid in increments reaching $5,000 or more.
As a result, PC Gamer highlights how, naturally, the general consumer market will be turned off by the high prices, but there are other PC building firms that could be involved in the auction.
Included within the sale are some of the following items:
- 43 partially built PCs
- 413 cases
- 360 CPUs
- 359 PSUs
- 219 RAM kits
- 283 coolers
- 167 SSDs + HDDs
- 59 graphics cards (such as the GeForce RTX 3060)
- 346 motherboards
In total, the value of the inventory currently held by Artesian Builds is believed to be worth $917,595. Apart from the aforementioned PC parts, office equipment and other tools have been added to the auction. For reference, the company had around 50 employees working for it.
Elsewhere, it was confirmed that a huge amount of customer orders have not been fulfilled because of the abrupt end to its operations. Confirmed by a filing in California due to the bankruptcy procedure, the company’s final balance sheet lists about $1.37 million in unfulfilled orders.
A former Artesian Builds employee told PC Gamer that there are at least “hundreds” of outstanding orders for gaming PCs. Customers who have yet to receive their system had little to no success in receiving a refund, with one customer confirming his son ordered a $5,100 PC in December 2021.
In order to resolve the case, the customer ultimately decided to file a dispute with their credit card company, which appears to be the path that many others opted for based on the Discord server for Artesian Builds.
All of the items that will be sold today at auction will be claimed directly by Artesian Build’s creditors, which will then be distributed to the likes of secured creditors and unsecured creditors.
A raffle livestream from Artesian Builds owner and CEO, Noah Katz, which was covered extensively throughout the media due to the controversial nature of the stream, was followed by the company officially filing for bankruptcy in April 2022.
Former employees suggested to PC Gamer that the inexperience of Katz as a CEO could be one of the main reasons the PC building firm took a turn for the worse.
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