Latest news with #eBay
New York Times
3 hours ago
- Entertainment
- New York Times
Scandal-Ridden Fyre Festival Is Sold for $245,000 on eBay
It had billed itself as an unrivaled music festival experience, one that its organizers fancied would bring together jet-setters for an Instagram-worthy lineup of A-list acts and hedonism in paradise. Eat your hearts out, Coachella and Burning Man. But after ignominiously failing to deliver on lofty promises, ones that resulted in prison time for the event's founder and documentaries by Netflix and Hulu, the scandal-ridden Fyre Festival sold its branding rights on Tuesday via the auction website eBay. It did not exactly go out in a blaze of glory — more like a whimper — with an unidentified buyer paying $245,300 to take over the brand and its intellectual property rights from Billy McFarland, 33, a so-called 'big-time millennial grifter.' Still, the sale raised a fundamental question: Why would anyone would pay any amount to inherit a brand with such a dubious reputation? According the eBay listing, 175 bids had been placed in about a week on the auction site, where a description about the marketing opportunities associated with the Fyre Festival was presented in familiar grandiose terms. 'FYRE isn't just a name — it's a global attention engine,' the listing said. The listing was not eligible for eBay's purchase protection programs, the auction site advised. Want all of The Times? Subscribe.
Business Insider
5 hours ago
- Business
- Business Insider
The GameStop stapler that punctured a Nintendo Switch 2 has sold for $250,000
Now, that same stapler, and some additional items, have sold for $250,000 on eBay as part of a GameStop-organized charity auction. The auction closed on Wednesday with 282 bids. "Let's consider this GameStop's version of 'corporate accountability,'" a GameStop spokesperson told Business Insider. The saga — dubbed "staplegate" — began last month when the highly anticipated Nintendo Switch 2 became available to the public. It had been a long road for fans, who were introduced to the original Nintendo Switch eight years ago and were forced to weather a tariff-related delay on the newest version of the popular gaming console. The Nintendo Switch 2 sells for $499. While many fans received their Nintendo Switch 2 orders without fuss, some said their consoles arrived damaged with puncture holes on the culprit was a lone stapler at a Staten Island GameStop used to secure the receipts to the console boxes. Although GameStop replaced thedamaged consoles, the company spokesperson said it wanted to "turn the snafu into something for a good cause." The winning bidder receivedfour items: a stapled Nintendo Switch 2 (now fixed), the console's box with stapler marks, the stapler, and the "carefully extracted" staple. GameStop CEO Ryan Cohen said in an X post this monththat he'd include his underwear in the auction if bids surpassed six figures. They did. After the auction closed, Cohen posted a "sneak peek" of his underwear on X. According to the GameStop spokesperson, the decision to auction the items was a no-brainer. "It pitched itself, honestly. Once the story took off, the stapler basically demanded an agent," they said. Fortunately, tracking down the stapler wasn't difficult. "We asked nicely and it was surrendered peacefully to our social media and marketing team," the spokesperson said, adding that the response has "exceeded our expectations."
New York Post
5 hours ago
- Entertainment
- New York Post
Billy McFarland sells controversial Fyre Festival brand for shocking amount
This sale was not on Fyre. Billy McFarland sold the rights to his infamous Fyre Festival brand on Tuesday, but he wasn't happy about the amount it went for. After the week-long sale involving 175 bids, the undisclosed buyer paid $245,300 for the Fyre Festival IP, brand trademarks and social media assets. 8 Billy McFarland leaves federal court in New York in March 2018. AP 'Damn. This sucks, it's so low,' McFarland, 33, said about the final bid while livestreaming the auction, according to NBC News. In a statement on his Instagram, McFarland wrote: 'I would like to congratulate the winning bidder in the FYRE Festival IP auction on eBay. I look forward to working with them to begin the process to finalize the sale.' 8 Billy McFarland in an Instagram video. pyrtbilly/Instagram 'FYE Festival is just one chapter of my story,' the convicted fraudster stated, 'and I'm just excited to move onto my next one.' McFarland claimed that the auction 'became the most-watched non-charity listing on eBay during its run, proving once again that attention is currency, and views are the root of attention.' 8 Billy McFarland's statement about the Fyre Festival sale. pyrtbilly/Instagram 'That belief is at the core of what I'm building next: a tech platform designed to capture and power the value behind every view online,' McFarland added, teasing that his next project is 'coming soon.' The original Fyre Festival, co-organized by McFarland and Ja Rule, ended disastrously back in 2017. 8 Views of the Fyre Festival in the Bahamas in 2017. Lee/Prahl/ Splash News 8 Billy McFarland went to jail for is involvement in the Fyre Festival scam. Attendees who paid thousands of dollars for tickets arrived in the Bahamas expecting a luxe celebrity experience only to be stranded with no musical acts, no electricity, no running water and a limited supply of cheese sandwiches and FEMA huts to nourish and shelter them. 8 Tents and a portable toilet set at the Fyre Festival. AP In 2018, McFarland pleaded guilty to two counts of wire fraud after the federal government determined he had defrauded investors out of more than $26 million. He was ordered to pay the full amount in restitution and sentenced to six years in prison, but was released in 2022 after serving just four years. The Fyre Festival controversy has been explored in several documentaries, including Netflix's 'FYRE: The Greatest Party That Never Happened' and Hulu's 'Fyre Fraud.' 8 Billy McFarland leaving Manhattan Federal Court on July 1, 2017. TNS McFarland announced last year that Fyre Festival 2 was in the works. He claimed it would take place on 'a private island off the coast of Mexico in the Caribbean' and promised that 'an incredible production company' was handling the event. The festival was later slated for May 2025 in Playa del Carmen, Mexico, until a dispute with the location occurred. 8 Billy McFarland in an Instagram video. pyrtbilly/YouTube After Fyre Festival 2 was postponed indefinitely, McFarland revealed he was selling the brand. 'We have decided the best way to accomplish our goals is to sell the FYRE Festival brand, including its trademarks, IP, digital assets, media reach, and cultural capital – to an operator that can fully realize its vision,' McFarland said in April. The entrepreneur stated that Fyre Festival 'deserves a team with the scale, experience, and infrastructure to realize its potential.'
Forbes
7 hours ago
- Entertainment
- Forbes
This Limited Edition Labubu Could Be The Next To Resell For 5 Figures
A limited edition collaboration between the shoe brand Vans and Labubu—the quirky plushes from Chinese toy company Pop Mart that have sparked a viral phenomenon—could be the next rendition of the toy to sell for five figures on the secondary market as an eBay auction for the doll creeps toward the $10,000 mark. Close-up detail view of seven Labubu monsters during a street style fashion photo session on June ... More 12, 2025 in Paris, France. Getty Images The Labubu x Vans Old Skool Vinyl Plush Doll isn't new—it was designed in 2023—but its limited availability has pushed it to be one of the most coveted versions of the Labubu. An eBay listing for the limited edition toy had 16 bids and reached $8,924 as of 2 p.m. EDT on Wednesday, making it the most expensive Labubu currently available on major secondary market websites. The brown doll listed for sale is wearing Vans' classic streetwear designs—including Sk8-Mid sneakers—as well as a Vans sweatshirt and blue and orange hat reading "The Monsters," the name of the series of characters to which Labubu belongs. If it does hit the five-figure mark, the Labubu will be in good company: Other super valuable version of the doll include the Three Wise Labubu (it sold in a Sotheby's auction for $28,300 in May), the Sacai x Seventeen x Labubu (auctioned for $31,250 last month) and a Chinese auction house in June sold a life-sized Labubu doll sold for more than $150,000 and a tall brown Labubu figure for $140,000. And while the price may seem high for what could be a flash-in-the-pan trend, Lori Verderame, an expert appraiser known to History and Discovery Channel viewers as "Dr. Lori,' told Forbes she thinks the Labubu trend is here to stay and that their 'unique look and general appeal will make them a strong market collectible for years to come.' "(Labubus) follow in the high profile and high value tradition of collectibles such as Ty Beanie Babies, Jem and the Holograms toys, Cabbage Patch dolls, and more recently Squishmallows,' Verderame said. 'Their connection to international children's literature, specifically Nordic folk tales, and their presence in the art market also helps drive the market and attract new and seasoned collectors.' Get Forbes Breaking News Text Alerts: We're launching text message alerts so you'll always know the biggest stories shaping the day's headlines. Text 'Alerts' to (201) 335-0739 or sign up here : People look at collectable designer art toy Labubu at a Pop Mart pop-up store in Bangkok on May 6, ... More 2025. AFP via Getty Images The Labubu toy was designed by artist Kasing Lung, who is based in Hong Kong, a decade ago. He has said his characters, which first debuted in a picture book called 'The Monsters Trilogy' in 2015, are inspired by Nordic mythology. Lung licensed his designs to Pop Mart in 2019 and the company turned them into collectible toys. Labubus have skyrocketed in popularity thanks, in part, to endorsements from celebrities like Lisa from the K-pop group Blackpink, Rihanna and Dua Lipa, and also through TikTok 'unboxing' videos that shot them to viral fame. Labubus typically sell for $20 to $30 in 'blind boxes' so the buyer doesn't know what color or design the doll has until the box is opened, and it's the much-more-valuable 'secret' Labubus, which consumers have a 1-in-72 chance of buying, that are popping up on resale sites for thousands of dollars. The Labubu trend is reminiscent of the Ty Beanie Baby craze of the late 1990s, when clever marketing tactics and perceived scarcity sent $5 plush toys reselling for exponentially more, and while the 'Beanie Baby Bubble' did ultimately burst, a handful are still worth thousands of dollars. Videos have been posted of Pop Mart stores overrun with customers brawling and yelling at one another over the toys, and one woman described the scene on a Labubu product release day as "Labubu Hunger Games." Fans have lined up at Pop Mart stores and vending machines for hours, even traveling overseas to get their hands on one, CNBC reported. Pop Mart pulled the dolls from all U.K. stores following reports of customers fighting over them earlier this year and CNN recently reported hundreds of Labubu toys have been confiscated by customs authorities in China as resellers attempt to smuggle them into the country. Owners are reportedly looking into insuring their Labubus when traveling abroad, and reports have popped up on social media of the dolls being stolen off of bags when being worn as a key chain. One woman even started a (so far unsuccessful) GoFundMe to replace a Labubu she says was stolen off of her bag while she was at dinner. What To Watch For How much the limited edition Vans collaboration Labubu sells for. The auction will end at 10:45 p.m. EDT on Monday. Forbes Valuation Wang Ning, 38-year-old founder of toy maker Pop Mart International Group, has an estimated net worth of $21 billion. He joined the ranks of China's top 10 billionaires for the first time in June. Pop Mart went public in Hong Kong in 2020. Tangent Pop Mart, which has a market cap of $43 billion, this week said it expects a 350% increase in profit and 200% increase in revenue for the first six months of 2025 compared to the same period last year, largely on the back of Labubus, and the company reported $1.8 billion in revenue for 2024—an increase of more than 100% from 2023. Shares of Pop Mart International dropped 6% on Wednesday after the company put out its earnings forecast. Jeff Zhang, an equity analyst at Morningstar, told CNBC he thinks the company's shares are overvalued. Ning's net worth dropped almost $900 million with the dip. Further Rea Forbes Viral Labubu Dolls Resell For Thousands Online As TikTok's New Big Hit By Conor Murray Forbes Labubu: How Asia's Quirky Toy Became A Global Business Phenomenon By Sylvana Quader Sinha Forbes Pop Mart's Wang Ning Is China's 10th Richest Thanks To Labubu Mania By Yue Wang
Yahoo
8 hours ago
- Entertainment
- Yahoo
Billy McFarland sells Fyre Festival brand on eBay for $245K. See what the buyer will get.
Fyre Festival will soon be in different hands as the infamous music festival sold for $245,300 on eBay this week. Billy McFarland, the festival's founder and owner, launched a live eBay auction for the "iconic" brand, trademarks, intellectual property and social media assets on July 8. After 175 bids from 42 bidders, the festival sold for $245,300 on Tuesday, July 15. The winning bidder has not been announced. "Fyre Festival is just one chapter of my story, and I'm excited to move onto my next one," McFarland wrote in a social media statement on Tuesday. Who bought Fyre Festival? It is unclear who placed the winning bid for Fyre Festival, as eBay presents anonymous names during auctions for buyer safety. Fyre Festival has also not shared the name of the winning bidder. A Fyre Festival spokesperson did not provide additional information outside of McFarland's statement when contacted by USA TODAY on Wednesday, July 16. What did the auction include? According to the eBay listing, the sale included: Brand name Registered trademarks and intellectual property Official social media accounts (including verified Instagram) Comprehensive marketing assets (photos, videos, graphic templates and advertisement archives) Domains (websites) Caribbean festival location option (with full support from elected island leadership) Behind-the-scenes content and documentary footage Emails and text lists Artist and talent relationships Extensive media coverage archive Access to core team (optional) What are people saying? Social media users didn't hesitate to share their thoughts on the eBay sale. "Is the next move where you get a job?" one Instagram user commented on McFarland's statement. "I'm confused by what he's even selling. Just the logo? They never did anything," another user wrote. Though some commenters were more positive. "Can't wait to see the new Fyre owner's vision for the brand!" a user wrote. What is Fyre Festival? Fyre Festival first gained traction in 2017. The two-week music and arts festival in the Bahamas, was promoted by influencers like Kendall Jenner, Bella Hadid and Hailey Bieber and ticketholders were promised performances from acts like Blink-182 and Migos. However, upon arrival, festival-goers learned that the artists had canceled. Due to poor Caribbean weather, the festival was essentially washed out, with the promised luxury accommodations and gourmet food nowhere to be found. In the end, attendees only stayed one night before they were evacuated. In 2018, McFarland was sentenced to six years in prison for engaging in several fraudulent schemes related to the festival, including defrauding investors out of $26 million and more than $100,000 in fraudulent ticket-selling schemes. The festival inspired two documentaries, Netflix's "Fyre: The Greatest Party That Never Happened" and Hulu's "Fyre Fraud." As part of his sentencing, McFarland agreed to pay $26 million in restitution to those who attended the first Fyre Festival in the Bahamas in 2017. The eBay listing states that a "portion of the proceeds" from the sale will be used for this. Upon his release, McFarland began to promote Fyre Festival 2, a second attempt at the festival. But problems quickly arose, as tickets starting at $1,400 promised luxury accommodations off the coast of Mexico, despite Mexican government officials claiming they weren't working with the festival at all. After a venue change – to an entirely different island – just weeks before the festival was to begin, McFarland called it off. "For Fyre Festival 2 to succeed, it's clear that I need to step back and allow a new team to move forward independently, bringing the vision to life on this incredible island," McFarland said in an April statement. As of July 16, McFarland claims Fyre Festival is working with "several Caribbean destinations" interested in hosting the festival. Greta Cross is a national trending reporter at USA TODAY. Story idea? Email her at gcross@ This article originally appeared on USA TODAY: Fyre Festival sold on eBay; Billy McFarland 'onto next' chapter
