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Ryan Cohen is leaning into the attention around GameStop’s proposed $55.5 billion bid for eBay by selling items on eBay himself.
The GameStop CEO posted that he is “selling stuff on eBay to pay for eBay,” turning the takeover attempt into a viral marketing moment.
Cohen’s auctions include trading cards, video games, gaming memorabilia, GameStop collectibles, an old iPhone, store signs and a painting of Tylee, the dog that inspired him to create Chewy.
Some items are already drawing unusually high bids.
The Tylee painting reportedly has a top bid above $5,000, while GameStop store signs have attracted bids above $11,000.
One of the most notable items is a PSA 10 2016 Topps Now Donald Trump inauguration card.
A collectibles expert said the auction is already well above the highest known public sale for that specific card.
Every auction item also includes a hand-signed letter to eBay, according to the listings.
The auctions will not come close to funding the acquisition, but they are generating attention for Cohen and the proposed deal.
GameStop has already built around a 5% stake in eBay and has about $9 billion in cash.
The company is proposing a half-cash, half-stock deal that values eBay at $125 per share.
The takeaway: Cohen is using eBay’s own platform to draw attention to his bid, while reinforcing GameStop’s growing focus on collectibles and trading cards.
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