This week on Royalty Exchange, bidders have two opportunities to own a scoop of iconic ice cream history, as featured on Food Network earlier this week. In a two-part auction, the original winner of Royalty Exchange’s 2020 auction of Cherry Garcia trademark royalties is selling his entire interest in two separate auctions this time. These royalties stem from the gross sales of the popular Ben & Jerry’s ice cream flavor, Cherry Garcia, and are paid out quarterly.
The first auction for the larger share of this seller’s interest closed yesterday for $81,000. The second auction for the smaller remaining share of the seller’s interest just launched today at 1PM ET with a starting price of $20k.
Officially released in 1987, Cherry Garcia is a nod to the celebrated and acclaimed guitarist/songwriter Jerry Garcia. The flavor was an instant hit. Over three decades years later, it remains one of Ben & Jerry’s most popular and “longest-serving” products.
These consistent earnings come from the licensing of the Cherry Garcia trademark. This means the winning bidder will earn royalties from the gross sales of all Cherry Garcia-related products under the Ben & Jerry’s line. Currently, Ben & Jerry’s offers five variations of the Cherry Garcia flavor: ice cream, frozen yogurt, ice cream treats, non-dairy, and light ice cream (released in early 2018), along with merchandise. Essentially, whenever Cherry Garcia ice cream (or any of its variations) is sold, the winner of this auction will earn royalties.
The right to the seller’s remaining interest — which expires August 17, 2030 — in the domestic (U.S. only) royalties derived from the licensing of the Cherry Garcia trademark. The right to the royalties will revert back to the original owner on August 17, 2030.
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