Silicon Valley Bank sees run on merch through eBay — together with $201 cardboard field

Would you pay $201 for a carboard field from a failed monetary establishment?

Since the collapse of Silicon Valley Bank last week, merchandise and devices from the company have been posted on eBay, together with wine tumblers, espresso mugs, shirts, hats and even a dented cardboard field.

As the federal authorities launched Sunday that it’s going to not bail out the monetary establishment, opportunists want to unload their SVB-branded merch for a couple of bucks, with one vendor putting up the field they acquired last month as part of the company’s welcoming package deal deal.

The vendor touted the turquoise field with SVB printed on it as a “limited edition” merchandise for collectors.

In their decided plea to advertise the hunk of junk for $201, the particular person wrote: “Box received after getting offer letter one month before the bank blew up. Need to pay rent this month, please bid.”

The merchandise had a starting bid of decrease than $1 on Saturday, leaping to $201 as of Monday morning, with the general public sale set to close in 5 days.

Another alleged former employee feeling regret over the monetary establishment’s collapse put up their used espresso mug for public sale, which is for the time being bidding at $30.

The vendor, based in Osseo, Minn., shared their heartbreak throughout the merchandise description, writing: “I labored for Silicon Valley Bank throughout the Enterprise Business Analytics crew as a information scientist. I’m fully shocked by what has occurred and am terribly concerned in regards to the future.

“Buying this mug helps me out however moreover will get you a bit of historic previous to one in every of many quickest banking failures in US historic previous. This mug was used on the day-to-day and divulges indicators of harm.

“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.”

Another vendor put up a used SVB-branded wine tumbler with a cracked lid up for public sale, which is for the time being selling for $51.

The vendor well-known that the white tumbler was acquired as part of a “swag bag” from a trip celebration sponsored by SVB in 2020.

One eBay vendor moreover put up a glass for public sale, throwing in an extra SVB-branded hat lauded as “limited edition” devices. The vendor cheekily added “10 yr treasury bonds provided individually.

Other SVB-branded devices up on the market embody totally different hats and several other different T-shirts, quite a lot of which might be labeled as belonging to the monetary establishment’s Risk Management Department.

SVB didn’t immediately reply to The Post’s request for comment.

SVB’s fall from grace is crucial US monetary establishment collapse given that 2008 monetary catastrophe, with Treasury Secretary Janet Yellen telling CBS’ “Face the Nation” that the bail outs of the Great Recession gained’t be repeated.

“During the financial crisis, there were investors and owners of systemic large banks that were bailed out,” Yellen talked about. “And the reforms that have been put in place means that we’re not going to do that again.”