Iluvthe80s
1-21-04, 05:58 PM
*From Undercover Media:
Bankrupt Beastie Boys Assets Slow To Sell
Assets from the Beastie Boys Grand Royal label are being auctioned online this week but interest is so far slow.
With just 24 hours to go, the highest bid is only $US15,000. The reserve is said to be $100,000.
Assets in the auction include master tapes, original contracts, stock and equipment.
The master tapes from Luscious Jackson, Russell Simmons and Sean Lennon are being sold as well as original samples of many of the acts on the roster.
The inventory includes 300 copies Beastie Boys 'Root Down' on vinyl, 80 ten inch vinyl records of Ben Lee's Noise Addict 'Young and Jaded',
The successful bidder will acquire original contracts by Sean Lennon, Luscious Jackson and Bis.
Record contacts include the original contract between Pav and Modular Records in Australia dated February 23, 2001 and the contract with EMI Australia dated January 3, 2001.
Luscious Jackson merchandising is included in the sale, a bargain if you are in the market for 76 Luscious Jackson t-shirts.
According to a disclaimer with the auction, "The Bankruptcy Trustee is selling his right, title, and interest in the assets without any representations or warranties. Assets related to the groups At the Drive-In, Ben Lee, Noise Addict, and Bran Van 3000 are not included in the auction sale".
Grand Royal filed for bankruptcy in July 2002.
Their biggest commercial success was the first Luscious Jackson album which sold Gold but then the band broke up.
They also did okay with At The Drive-in, who again broke up after the first album.
The value of the assets is only really worth sentimental value. Outside of collectors, there is no real business value attached to the assets for sale.
by Paul Cashmere
Bankrupt Beastie Boys Assets Slow To Sell
Assets from the Beastie Boys Grand Royal label are being auctioned online this week but interest is so far slow.
With just 24 hours to go, the highest bid is only $US15,000. The reserve is said to be $100,000.
Assets in the auction include master tapes, original contracts, stock and equipment.
The master tapes from Luscious Jackson, Russell Simmons and Sean Lennon are being sold as well as original samples of many of the acts on the roster.
The inventory includes 300 copies Beastie Boys 'Root Down' on vinyl, 80 ten inch vinyl records of Ben Lee's Noise Addict 'Young and Jaded',
The successful bidder will acquire original contracts by Sean Lennon, Luscious Jackson and Bis.
Record contacts include the original contract between Pav and Modular Records in Australia dated February 23, 2001 and the contract with EMI Australia dated January 3, 2001.
Luscious Jackson merchandising is included in the sale, a bargain if you are in the market for 76 Luscious Jackson t-shirts.
According to a disclaimer with the auction, "The Bankruptcy Trustee is selling his right, title, and interest in the assets without any representations or warranties. Assets related to the groups At the Drive-In, Ben Lee, Noise Addict, and Bran Van 3000 are not included in the auction sale".
Grand Royal filed for bankruptcy in July 2002.
Their biggest commercial success was the first Luscious Jackson album which sold Gold but then the band broke up.
They also did okay with At The Drive-in, who again broke up after the first album.
The value of the assets is only really worth sentimental value. Outside of collectors, there is no real business value attached to the assets for sale.
by Paul Cashmere