The Beastie Boys’ bankrupt and defunct (de-funked?) Grand Royal record label is being auctioned online today at Bid4Assets.com. Bidding is open for seven days. Founded in 1993, this was one of the most popular artist-owned labels in recent history.
For a minimum bid of $10,000, potential purchasers can acquire the label’s entire product inventory as of May 2002 (including thousands of copies of releases by acts such as Josephine Wiggs, Luscious Jackson, Buffalo Daughter and Money Mark), master tapes and a wealth of merchandise. After an eight-year run, Grand Royal closed for good in March 2001, citing “mounting debts, decreasing assets and exceedingly harsh industry conditions.” The Beastie Boys shifted their recording contract to Capitol, which later this year is expected to issue the group’s first album since 1999’s “Hello Nasty.”
Link to Billboard story, Link to auction website