The various pieces of Silicon Valley Bank merchandise, which include mugs, bags, cheeseboards and even cardboard boxes (pictured), are attracting surprisingly high bids

After Silicon Valley Bank went insolvent last week people have turned to eBay to sell their now-vintage company merchandise. 

The various pieces of company swag, which include mugs, bags, cheeseboards and even cardboard boxes, are attracting surprisingly high bids – a counterintuitive testament to health of the US economy. 

Official SVB mugs appeared to be attracting average bids of nearly $100 and one of the cardboard boxes had a highest bid $201.

Having presumably witnessed the high demand for that box, another seller listed their own cardboard box on Monday night and started bidding at $45.

Both sellers said their boxes – approximately 11′ x 11′ x 5′ – were sent to them after they received job offers from the bank.

The various pieces of Silicon Valley Bank merchandise, which include mugs, bags, cheeseboards and even cardboard boxes (pictured), are attracting surprisingly high bids

The various pieces of Silicon Valley Bank merchandise, which include mugs, bags, cheeseboards and even cardboard boxes (pictured), are attracting surprisingly high bids

The box had attracted 29 bids in less than three days. The highest bid on the box on Monday evening was $201

The box had attracted 29 bids in less than three days. The highest bid on the box on Monday evening was $201

Silicon Valley Bank went insolvent and on Friday was taken over by the US Federal Deposit Insurance Corp (FDIC) following a run on its deposits

Silicon Valley Bank went insolvent and on Friday was taken over by the US Federal Deposit Insurance Corp (FDIC) following a run on its deposits

Another seller, who appeared to be based in Osseo, Minnesota, claimed to be a former employee of the bank and was selling an insulated mug which they claimed had been used on the job.

‘I worked for Silicon Valley Bank in the Enterprise Business Analytics team as a data scientist,’ they wrote.

‘I am utterly shocked by what has happened and am extremely concerned about the future. Buying this mug helps me out but also gets you a piece of history to one of the fastest banking failures in US history.’ 

Imperfections in the mug’s coating were advertised not as defects but as evidence of the hard, but ultimately fruitless, work they put in for the company.

‘This mug was used on the day to day and shows signs of wear. But those knicks in the powder coating just tell my story of grinding, analyzing, and ultimately failing to help the bank use data to help the bank and its customers have success,’ they added.

The top bid on their blue mug, which despite the listing appears to be in fairly good condition, is $76 and the item had received a total of 12 bids as of Monday night.

The seller of this light blue insulated mug claimed there was some damage to the powder coating but said the dings were an indication of the hard, but ultimately fruitless, work he put in for the company

The seller of this light blue insulated mug claimed there was some damage to the powder coating but said the dings were an indication of the hard, but ultimately fruitless, work he put in for the company  

This 1983 'deal cube' commemorating a public offering of 500,000 shares in the bank was listed for sale

This 1983 ‘deal cube’ commemorating a public offering of 500,000 shares in the bank was listed for sale

The cube, dating back to 1983, the same year the bank was founded, sold for $100

The cube, dating back to 1983, the same year the bank was founded, sold for $100

One of the unique listings was for sale was a 1983 ‘deal cube’ commemorating a public offering of 500,000 shares in the bank in the year it was founded.

The cube features inside of it a miniature prospectus, a document filed to the SEC which details the nature of the offering. The mini booklet is frozen in a transparent acrylic resin cube.

The miniature prospectus inside is dated July 17, 2983. The seller included a disclaimer in the item description: ‘Important Disclaimer: This is a authentic commemorative miniature prospectus. “It is not an offer to buy or sell securities”‘

‘Here is your once-in-a-lifetime opportunity to own an extraordinary piece of Silicon Valley venture banking history, an all-time collector’s item!’ they said.

‘Silicon Valley bank would pioneer the tech banking industry and become the dominant supporter of the nation’s entrepreneurial landscape for the next four decades!’ they added.

The cube sold on Monday night for $100. 

An SVB hat and tumbler were listed for only 99 cents but within a day prospective buyers had entered bids of $100.

The person listed the merch as ‘Two pieces of genuine Silicon Valley Bank corporate swag. Authentic and guaranteed to be “limited edition.”‘

A cheeseboard which included various utensils and a wooden board engraved with the bank’s logo was listed for a flat price of $230. Four people had watched the item within 24 hours. It was listed as having been just lightly used. 

This SVB hat and tumbler were listed for 99 cents bidding but within a day prospective buyers had entered bids of $100

This SVB hat and tumbler were listed for 99 cents bidding but within a day prospective buyers had entered bids of $100

The SVB-branded cheeseboard was lightly used and listed for a flat price of $230

The SVB-branded cheeseboard was lightly used and listed for a flat price of $230

A tumbler and bottle set in its original plastic packaging had drawn a bid as high as $183.50 in less than a day

A tumbler and bottle set in its original plastic packaging had drawn a bid as high as $183.50 in less than a day

Silicon Valley Bank was founded in the 1980s and quickly developed a reputation for being a tech-savvy lender to young computer startups in their early stages. 

Over the course of the next 40 years it grew to become the 16th largest bank in the US, catering to tech companies around the world. 

As the global tech industry boomed during the pandemic the bank’s services came to be in high demand and its deposits grew as companies used it to store cash for growing payrolls, among other things.

Its demise however began after making major investments in US government bonds, backed by mortgages and with low interest rates.

As the Fed started to hike interest rates last year those bonds dropped in value and the bank’s debt-to-asset ratio became increasingly precarious. 

As Silicon Valley companies found themselves in hard times last year and sought to withdraw money from the bank, it struggled to meet withdrawals and was forced to sell assets prematurely incurring losses that spooked investors.

Last week SVB went insolvent and on Friday was taken over by the government following a run on its deposits and a collapse in its stock price.

It became the largest bank to fail since the financial crisis of 2008. 

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