Take it as a symbol of how deep the financial crisis has cut into Hedgefundistan, the hedge fund rich strip of Connecticut shoreline stretching from Greenwich to Bridgeport. A seller on Ebay based in Stamford Connecticut, in the centre of Hedgefundistan, is offering 14 trading desks starting at a deeply discounted price.
Perhaps even more tellingly the market’s response for hte past five days has been: NO BID.
The desks are listed as originally costing $1500, with the auction price starting at just $99. Each has two trading postiions facing each other, with scaffolding that would permit up to 4 17″ monitors to be founded on each side. Each can be modified to have up to 8 screens.
It’s highly likely that these are the ruins of some hedge fund that has closed up shop or shrank dramatically. If they were fully utilized, they represent 28 traders whose jobs may have been eliminated. While it’s always possible someone is selling them because they upgraded to new desks, that seems the less likely scenario.