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SVB swag, like this fleece jacket, is promoting for as much as $1,000 on eBay

News Room by News Room
Mar 18, 2023 4:31 pm EDT
in Investing
Reading Time: 2 mins read
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Regardless of the information of its collapse, Silicon Valley Financial institution lives on — at the least to those that purchase and promote through eBay
EBAY,
+1.47%.

There’s a wave of SVB merchandise — basically, company swag given to staff in years previous — that’s now being supplied as collectible-worthy fare on the favored on-line public sale web site. Gadgets vary from baseball caps and water bottles, to even a meat-and-cheese board. And asking costs are going for as excessive as $1,000.

That’s the associated fee, actually, of an SVB finance committee jacket (properly, the official value is $1,000 or “finest provide”). The vendor says it’s “Real SVB swag” that was made for SVB by L.L. Bean. The dimensions XL fleece jacket “was given to Finance Committee members of the Board of Administrators,” the vendor provides.

If that’s too dear for you, there’s a tumbler-and-bottle set that’s working $188.50 after 24 bids, as of Tuesday morning. It’s billed by the vendor as an “Genuine piece of SVB historical past” that was “Given to SVB staff in 2021.”

Then, there’s an insulated espresso mug going for $76, as of Tuesday morning, that comes with fairly a again story. The vendor says: “I labored for Silicon Valley Financial institution within the Enterprise Enterprise Analytics staff as a knowledge scientist. I’m totally shocked by what has occurred and am extraordinarily involved concerning the future. Shopping for this mug helps me out but in addition will get you a bit of historical past to one of many quickest banking failures in US historical past.”

And the vendor goes on from there, noting that, “This mug was used on the day after day and reveals indicators of damage. However these (nicks) within the powder coating simply inform my story of grinding, analyzing, and in the end failing to assist the financial institution use knowledge to assist the financial institution and its prospects have success.”

Different SVB gadgets up for grabs embody a wi-fi speaker ($99.99), a backpack ($92) and, sure, that meat-and-cheese board ($229.99). The board is billed as “calmly used.”

The gadgets clearly communicate to an of-the-moment state of affairs, however will they maintain a lot worth as collectibles down the street? Memorabilia skilled Vincent Zurzolo, president of the public sale web site ComicConnect, says that when the SVB story turns into outdated information, it’s uncertain that there might be a lot curiosity or worth in this stuff, a lot much less in years down the street.  

“In 10 years, no one goes to be saying, ‘Let me accumulate that cheese board from when that financial institution went underneath,’” Zurzolo advised MarketWatch.

Read the full article here

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