As far as we can tell, CBGB is little more than a series of letters appearing on t-shirts in suburban malls. Apparently it was a rock club once, right? Well, anyway, now that three Ramones are dead and David Byrne is busy with White House Correspondents dinner bashes and whatnot, it’s time to focus on what really matters: the money.
Bloomberg reports that the estate of CBGB owner Hilly Kristal, the late owner of the legendary venue, is putting the club’s “brand” up for auction. The task of bleeding dry the birthplace of punk rock looks awfully exhausting! Assets associated with the CBGB brand and included in the deal are “trademarks, domain names, recordings and artifacts from the club.” Artifacts, like a chunk of the stage with Iggy Pop’s blood on it or something? Have fun with that, wealthy brand-buyer.
And it’s not cheap, either.
“We’re expecting it to trade well in excess of a couple million,” said Jack Hazan, a principal in Needham, Massachusetts-based Streambank, which specializes in intangible asset transactions.
Enjoy the “CBGB Punk Rock Coffee Mug,” coming soon to a Starbucks near you.
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