Video game retailer GameStop Corporation GME made headlines for the wrong reasons when a sales associate stapled receipts through customers’ new Nintendo Switch 2 consoles. That unfortunate event has now turned into a piece of memorabilia from the company for one lucky bidder.
What Happened: Best known as a meme stock in recent years, GameStop could soon become known as the home of the $250,000 stapler.
The retailer recently auctioned off the stapler, staple, Switch 2 console and box on eBay Inc EBAY.
With 282 bids placed from start to finish, the auction concluded on Wednesday at a final price of $250,000 to an anonymous buyer.
The video game retailer has dubbed the event as “Staplegate.” The events took place at a Staten Island, New York location on June 5 as part of the midnight launch of the Switch 2 console from Nintendo ADR NTDOY.
The refurbished Nintendo Switch 2 console, now stapled, has been repaired by GameStop with a new screen.
“It is the first known console to be officially stapled during a product launch by GameStop.”
Also included in the auction is a Certificate of Authenticity for the items listed above, signed by GameStop CEO Ryan Cohen.
“While the incident itself was unfortunate, we hope its legacy serves a greater purpose,” Cohen says on the COA.
Proceeds from the auction will benefit the Children’s Miracle Network Hospitals.
Read Also: GameStop CEO Is ‘Not Scared Of The Short Sellers,’ Calls It Un-American To Bet Against Business ‘But It’s A Free Market’
Why It’s Important: The auction gained increased visibility early on, thanks to the GameStop CEO’s several social media posts about the auction.
Cohen famously played a central role in the GameStop short squeeze as a major investor, who later became chairman and then took on the CEO role.
“If this reaches six figures, I will include my underwear,” Cohen tweeted with a link to the auction listing.
After bidding climbed over $100,000, Cohen upped the ante with another offer.
“If this reaches seven figures I will fly the winner to Miami, take them to McDonald’s for lunch and personally deliver my preowned underwear,” Cohen said in another tweet.
The auction did not reach the $1,000,000 level required for the second promise from Cohen, which means no lunch with Cohen for the winning bidder.
While GameStop will make no revenue from the actual auction, with proceeds going to charity, this could be an example of turning a potential piece of negative news into a positive story.
The company made things right with the customers who had been impacted by Switch 2 consoles and has now raised a quarter of a million dollars for charity.
GME Price Action: GameStop stock was up 1.9% to $23.68 on Wednesday versus a 52-week trading range of $18.73 to $35.81. GameStop stock is down 23.5% year-to-date in 2025.
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