A site that is known for selling collectibles and tchotchkes, Billy McFarland has done something pretty surprising. He sold the Fyre Festival on the online auction.
It wasn’t tickets or a concert shirt, but the entire festival was up for bid on eBay.
Click here to see the listing.
And when the proverbial gavel came down and time ran out, it sold for the low, low price of $245,400 on July 15, People magazine reported.
In all, 42 bidders made 172 bids for the festival by Tuesday afternoon, NBC News reported.
The buyer purchased the "FYRE Festival – Iconic Brand, Trademarks, IP, Social Media Assets, and More."
McFarland started the Fyre Festival in 2017, promising those who bought tickets that cost about $1,500 an event filled with luxury and celebrity guests.
But when festival goers got to the location in the Bahamas, they found an underwhelming event.
Food options were cheese sandwiches and what was promoted as glamping ended up being disaster relief tents with dirt floors, NBC News reported.
McFarland eventually was found guilty of wire fraud and went to federal prison for four years because of the festival.
He was also ordered to pay $26 million to the fraud victims, Bloomberg reported. The amount brought in from the eBay auction accounts for just under 1% of that.
He had hoped to get at least $1 million and had planned on using an undisclosed portion of the auction proceeds to pay the victims, Bloomberg said.
But in the past couple of years, he announced that he was going to give it another go with Fyre Fest 2.
He told the “Today” show in September, “We have a private island off the coast of Mexico in the Caribbean, and we have an incredible production company who’s handling everything from soup to nuts.”
The festival was allegedly scheduled for May 2025, but just months before, there were no permits requested by McFarland, People magazine reported.
And despite not having the details hammered out, he claimed 100 tickets at $500 each were already sold and that there were going to be packages for up to $1 million.
Then, come April, he said that it would be held in Playa del Carmen, but the area had no involvement.
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