38 Studios items to hit the auction block in R.I.
Posted: 3:21 pm Mon, October 22, 2012
PROVIDENCE, R.I. — Items ranging from graphic animation equipment to model airplanes made by former Boston Red Sox pitcher Curt Schilling will be sold off at the former Providence headquarters of his failed video game company.
The second of two auctions of 38 Studios’ assets, which features more than 2,100 lots, is scheduled to begin Tuesday morning at the company’s old office building downtown, where Schilling himself used to work.
One room that used to serve as the employee gym is now filled with computer monitors tagged and ready for bidding. Another has hundreds of central processing units, all wiped clean and reloaded with operating systems. There is office furniture galore — including Aeron chairs — along with a 38 Studios sign, several prints autographed by Schilling, figures of characters from the game “Kingdoms of Amalur: Reckoning,” and a ping pong table.
One lot consists of all manner of random items left at employees’ desk after they were suddenly laid off in May, including a “Green Monster” piñata and what looked like an animal cage.
Rhode Island lured 38 Studios from Massachusetts with a $75 million loan guarantee approved by the Economic Development Corp. in 2010. The company filed for bankruptcy in June, likely leaving the state on the hook for some $100 million related to the deal, when interest is factored in. Rhode Island is by far 38 Studios’ biggest creditor.
The auctioneer, Sal Corio, said during a Monday preview of items for the media that his goal is to raise as much money as possible, but he couldn’t estimate how much would be brought in. The bidding, which can also be done online, is expected to raise more than last week’s auction at Big Huge Games, a gaming studio in Maryland bought by 38 Studios in 2009. That grossed $180,000, according to 38 Studios receiver Richard Land.
The company’s intellectual property will be sold off separately in a few months.
Corio said he hopes the auction Tuesday doesn’t primarily attract those seeking memorabilia.
“We don’t have the bloody sock,” he said, referring to the famous sock an injured Schilling wore on his team’s way to the World Series championship in 2004.
Schilling may have to sell or part with the bloody sock to cover millions of dollars in loans he guaranteed to 38 Studios.
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