Tag: Tekashi

The Internal Revenue Service (IRS) has placed multiple jewelry pieces once owned by rapper Tekashi 6ix9ine up for auction after seizing them due to unpaid taxes. The sale, conducted through an online auction house, includes high-end diamond-encrusted pendants, luxury watches, and other personal items previously belonging to the rapper.

Why It Matters

IRS auctions provide a mechanism for the federal government to recover unpaid taxes by selling off assets seized from individuals and businesses. While such auctions commonly involve real estate, vehicles, and business equipment, high-profile sales involving celebrity assets tend to attract significant public interest.

The auction of Tekashi 6ix9ine’s belongings highlights the potential financial and legal troubles celebrities can face when they fail to meet their tax obligations.

What Is An IRS Auction?

An IRS auction is a public sale conducted to liquidate assets seized due to unpaid taxes. The IRS may confiscate property, vehicles, jewelry, or business assets when taxpayers fail to pay outstanding tax liabilities. Once seized, these assets are listed on IRS-approved auction platforms or sold through in-person auctions. The proceeds from these sales go toward settling the taxpayer’s debt to the government.

What To Know

LiveAuctioneers said the IRS seized valuable assets from Tekashi 6ix9ine following an April 2024 raid on his Lake Worth, Florida, home. Items listed for auction include:

• A diamond-encrusted “Bruce the Shark” pendant already attracting bids over $63,000.
• A spinner shark chain, currently at $45,500.
• A “Water” pendant, with bids reaching $36,000.
• Tekashi 6ix9ine’s signature rainbow-colored grills.

In addition to jewelry, two of Tekashi 6ix9ine’s luxury vehicles, a Bentley and a Lamborghini Urus, were sold at an earlier IRS auction. The Bentley fetched $85,000, while the Lamborghini went for $175,000, according to HotNewHipHop.

The auction is held through third-party platforms authorized by the IRS, allowing bidders to participate online. The sale is expected to generate substantial interest from collectors and fans of the rapper.

What People Are Saying

The high-profile nature of the auction has sparked conversations online, with some fans questioning whether Tekashi 6ix9ine will attempt to reclaim his belongings. A number of social media users shared images and videos of the items currently being auctioned off.

The No Jumper podcast on X, formerly Twitter: “The IRS will auction off most of Tekashi 6ix9ine’s jewelry, music plaques, and designer bags in March.”

What Happens Next

The IRS regularly holds auctions for seized assets, and this case serves as a reminder of the potential consequences of tax delinquency. For Tekashi 6ix9ine, the auction is just one of several legal and financial battles he faces. In December 2023, a court ruling allowed a receiver to seize additional assets to satisfy a nearly $10 million judgment against him related to a lawsuit filed by an exotic dancer in Miami.