The infamous Fyre Festival brand, best known for its 2017 implosion in the Bahamas, just changed hands on eBay for $245,300. The weeklong auction drew 175 bids from 42 hopefuls before wrapping up Tuesday afternoon, reports NBC News. Up for grabs were the brand's intellectual property, trademarks, and social media handles—remnants of a festival that was famously promoted as a luxury music experience but ended up a disorganized nightmare composed of shabby accommodations, absent performers, and limp cheese sandwiches.
Organizer Billy McFarland, who served time for wire fraud after the original fest, quipped, "Damn. This sucks, it's so low," when the bidding hit $240,000. Bloomberg reports McFarland had hoped the brand would go for $1 million at a minimum. He didn't name the buyer but did offer a chuckle and remark "it's funny" in reference to the auction winner.
McFarland had announced he would be selling the brand in April, saying, "After two years of rebuilding FYRE... it's time to pass the torch." He called the handover the "most responsible" move to push the festival forward and continue paying restitution to those still owed. Bloomberg notes the sale price amounts to a slender 0.9% of the $26 million McFarland was ordered to pay. The sale also included an unidentified "Caribbean Festival Location" that McFarland claims is ready to host the next incarnation of the allegedly elite music fest should the new owners want to bring it to fruition.
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