News: Young Buck's Getting Back A Majority Of Auctioned IRS Items, Reports Claim
Friday, Jul 27, 2012 2:27PM
Former G-Unit member Young Buck is reportedly going to gather up a majority of yesterday's IRS-helmed auctioned items which rounded up to the amount of $53,000.
According to reports, Buck Marley's manager purchased various items so he could once again own them.
An eye witness at this week's IRS auction of Young Buck's possessions told HipHopDX that many of those items will be returned to the rapper. M-Eighty, a record-breaking emcee and manager to Canibus, reported that Buck's manager, G, purchased "a lot of items," including the rapper's Cashville chain. The chain takes its name from Buck's label. (HHDX)
Reports of the sold items emerged online after yesterday's publicized auction.
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)
The auction received widespread publicity and promotion beginning earlier this month.
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)
Check out a recent Young Buck interview below:
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