Nicknamed "Larry," a 560-pound Twitter blue bird logo from the San Francisco headquarters is up for auction. Elon Musk secured the item as part of an online yard sale of sorts, after he acquired and renamed the company.

What Happened: Musk paid $44 billion to acquire Twitter in 2022. He later renamed the company X, and changed the company's logo.

While many still call the social media platform Twitter, their messages on the app tweets, the official Twitter name and blue bird logo is dead to Musk and the company.

As spotted by Engadget, RR Auctions is auctioning off the 12-foot-tall by eight-foot-long logo that previously adorned the San Francisco headquarters. The sign is one of two birds that was previously located at the headquarters on Market Street.

"Incredible official Twitter Inc. ‘bird log' fascia sign formerly displayed on the exterior of the social media giant's San Francisco headquarters – obtained from Elon Musk's ‘rebranding auction' in September 2023," the auction listing reads.

According to the listing, the company nicknamed the logo Larry after former NBA great Larry Bird.

At the time of writing, the high bid is at $21,664 with the auction set to end on Aug. 20. RR Auctions has an estimated value of $40,000 for the listing, suggesting bids could nearly double in the coming days.

The auction winner will be responsible for the costs of moving the sign from a storage facility in San Francisco.

The auction includes a YouTube video showing the work done to remove the logo from the building, including a crane and multiple workers.

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Why It's Important: After the rebranding, Musk decided to sell off many old Twitter logos and office products.

Among the most coveted were the large Twitter logos. A large Twitter logo from inside the office sold for $100,000. The outside logos sold for undisclosed prices.

While the company has a new name and logo, the iconic Twitter logo and blue bird memorabilia could become sought after by collectors for years, similar to old business cards, magazines and autographs of top technology CEOs and founders.

Benzinga recently asked about what the valuation of the privately held company should be.

“What do you believe is a fair valuation for X (formerly Twitter)?” Benzinga asked.

The results were:

Less than $20 Billion: 45%

$41-$75 Billion: 24%

Over $75 Billion: 16%

$21-$40 Billion: 15%

Nearly half of the voters in the poll said X should be valued at less than $20 billion. That represents a valuation of less than half of what Musk paid for the company back in 2022.

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