News: UPDATE: Young Buck's IRS Auction Banks $53,000, 615 Cashville Chain Highest Priced
Thursday, Jul 26, 2012 4:46PM
Former G-Unit member Young Buck's highly publicized Internal Revenue Service (IRS) auction reportedly banked $53,000 with the sale of jewelry, televisions and more.
According to reports, Buck's 615 Cashville chain turned out to be the auction's biggest seller.
The Internal Revenue Service said they took in $53,000 during an auction of rapper Young Buck's jewelry, recording equipment and other seized possessions. The IRS said the highest priced item, a 615 Cashville necklace the rapper wore in some of his videos went for $12,600. It had been appraised at approximately $20,000. The agency held a preview of the merchandise on Wednesday. It included TVs, gold albums, jewelry, and recording equipment. The rapper's trademarked "Young Buck" name was also sold. (News Channel 5)
A former Buck associate weighed in with his reaction to the ex-G-Unit member's stuff getting auctioned off this week.
"He came up from the streets and I guess he made it the best way he knew how to do it and that was with his music," said recording engineer Gerald Holt who worked with Brown before he made a name for himself. Holt toured the auction items Wednesday in disbelief. "It's just hard to see him rise to the top like this and then see all of his stuff just being sold at auction," he said. (News Channel 5)
Reports of today's auction scheduling surfaced online a few weeks ago.
The agency said the sale will be held in Nashville and a preview of the merchandise is scheduled for July 25. The items can also be seen online here. In December, a U.S. Bankruptcy Court judge in Nashville converted the bankruptcy of David Darnell Brown - the rapper's legal name - from a Chapter 11 reorganization to a Chapter 7 liquidation. The trustee administering his estate said she planned to sell the trademarked "Young Buck" name along with other assets seized for non-payment. Creditors submitted claims totaling $11.5 million, including $10 million that the label G-Unit Records said Buck owed them over a contract dispute. (WRCB TV)
Outside of his financial woes, Buck Marley is headed to jail for a three-year jail term.
Multi-platinum rapper Young Buck was sentenced Friday to three years in prison after he was convicted on weapons charges. Young Buck, a Nashville native whose real name is David Darnell Brown, was arrested for possessing weapons despite being a convicted felon following a stabbing several years prior. The judge sentenced the rapper to serve his two counts concurrently, so he will spend a total of 18 months in jail. "With the judge not considering my history to subtract some time, I'm just thankful for what time I do have," Young Buck said. (MSNBC)
Check out a recent Young Buck interview below: