1800 Items From Schilling’s 38 Studios Set To Be Auctioned Off In Providence
Get Breaking News First
PROVIDENCE (CBS/AP) – About 1800 items from Curt Schilling’s bankrupt video gaming company 38 Studios are set to be auctioned off on Tuesday in Providence.
The extensive auction list includes several hundred computers, audio studio recording equipment, video equipment, refrigerators, microwaves, travel cases, a ping pong table, custom gaming tables, a video game library, exercise equipment, flat panel televisions, and other high-end roller office furniture.
Photos of the items are posted on the the auction website. The auction is being held at the old 38 Studios office, and is in-person only.
Proceeds of the auction are expected to go toward paying back millions of dollars the company was loaned before going under.
A public auction earlier this week at the company’s former offices in Maryland brought in $180,000, the firm’s court-appointed receiver said.
Providence attorney Richard Land, the receiver for 38 Studios, said Tuesday’s auction in Maryland was robust, but he did not yet know how much it will net after expenses are paid.
Rhode Island lured 38 Studios from Massachusetts with a $75 million loan guarantee approved by the state Economic Development Corp. in 2010. The company filed for bankruptcy in June, and the state is likely on the hook for about $100 million related to the deal, including interest.
Land said Thursday that about 950 items — from computers and gaming consoles to furniture and office equipment — were sold at the former Big Huge Games, a studio in Timonium, Md., acquired by 38 Studios in 2009. A “video animation suit” attracted the highest bid of $9,500.
More than 300 people attended the auction in person, and 200 more were registered to make bids online.
“Having this many bidders helps to extract greater value for the property,” Land said in a statement.
38 Studios’ intellectual property, which is considered more valuable, will be auctioned off in about three months, Land said.
Gov. Lincoln Chafee said this week that every penny helps, but that he’s not “overly optimistic” that the auctions will make much of a dent in what the state stands to lose on its investment.
(TM and © Copyright 2012 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2012 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)