The Fyre Festival's IP Just Sold on eBay, and Founder Billy McFarland Isn't Pleased: 'Damn' Fyre Festival founder Billy McFarland sold his brand's IP and assets. Here's how much the new owner paid.

Fyre Festival founder Billy McFarland, who was released from federal prison in 2022 after serving four years behind bars for crimes related to the event, watched his brand sell on eBay for $245,300.

"Damn," McFarland said while streaming the bids. "This sucks, it's so low."

Related: Fyre Festival Founder Puts Infamous Brand Up for Sale

Bloomberg notes that the winning bid was only 0.9% of the $26 million McFarland has been ordered to pay in restitution.

The sale, which lasted a week, includes rights to the IP, trademarks, and social media accounts. There were 175 bids in total from 42 bidders, with the final bid coming just before 1 p.m. on Tuesday.

McFarland didn't disclose who the buyer was, but laughed when he saw the name, per NBC News.

"It's funny," he said.

After the infamous Fyre Festival disaster in the Bahamas in 2017, McFarland tried to revive the brand with the Fyre Fest 2, which was supposed to take place from May 30 to June 2 in Mexico, but was canceled in April (or never scheduled in the first place).

Related: Fyre Festival 2 Has Been Postponed — Again

"I'm sure many people think I'm crazy for doing this again. But I feel I'd be crazy not to do it again," McFarland said when sales started.

McFarland tried to sell the brand through an email form with an offer sheet, before turning to eBay in July.