How Bad Is Silicon Valley Bank? Ex-employees auction company merchandise on eBay to make a quick buck.
Some SVB items contain a torn blue cardboard box with the letters “SVB” on it. Asking price: $201.
“Box received after receiving offer letter a month before bank blew up. Must pay rent this month please,” the seller writes, Elon Musk.
If a used turquoise cardboard box from a failed bank isn’t on your wish list, customers can purchase a stainless steel SVP wine goblet for $59.
Do you want the set with two cups and bottles? That will cost you $188.50.
“Given to SVB employees in 2021. An authentic piece of SVB history,” said the seller.
Related: ‘It’s not the rich taking the hit’: Mark Cuban’s ‘Baby’ among multi-million dollar companies in Silicon Valley Bank
SVB swag fire sales
The bank collapsed last Friday after a $42 billion bank run that saw the federal government take control of SVP over the weekend.
Now some former employees are hoping there’s a run on SVP brand swag.
A person who claimed to have worked in the SVB’s analytics department sold a used coffee mug with the message, “Buying this mug helps me, but also gives you some history of one of the fastest bank failures in American history. This one mug was used in daily life and shows signs of use.”
Not all SVB items are authentic. Some opportunists cash in on the tragedy. A salesman named Staceys_68 is selling a Silicon Valley Bank SVB 2023 Shirt FDIC 250k.
Others sell stuff purportedly from the Risk Management Department of Silicon Valley Bank.
But beware, the seller warns: “Due to peak season, some colors are out of stock, we will contact you if that color is out of stock.”