Thousands of items up for bid at 38 Studios Auction
By: Chelsea Priest, email@example.com
The former 38 Studios in Providence is virtually empty, expect for more than two-thousand cataloged and numbered items up for bid Tuesday. Sal Corio, of SJ Corio Company's, who is running the auction explains, “about 2100 lots are in tomorrows auction, and as of right now, the way we have it lotted is we're hoping to be able to finish the auction tomorrow.”
It was just a few months ago when the company filed for bankruptcy and now this auction will attempt to recover a very small portion of the money owed, most of it, to The State of Rhode Island. Richard Land, court-appointed receiver for the company says, “the debt with interest is 100-million dollars, I think it would be highly unlikely that we would recover anywhere near that.”
Just last week at the 38 Studios office in Maryland, items auctioned off brought in $180,000. But this auction in Providence could bring in even more money. Land goes on, “we have a lot more assets here, they're newer so we would hope to have as successful if not better auction up here and raise additional funds.”
Items up for auction include high–end computers, servers and graphic design systems but along with all the office technology, lots of memorabilia is up for bidders. Posters, props and even model airplanes from Shillings office, believed to be built by him, will be available to bidders.
The auction will begin tomorrow at 10:30 AM in the 38 Studios office. Interested bidders can show up for inspections of items at 9AM. A separate auction for intellectual property items, like uncompleted video games will be held at a later date.