Billy McFarland is no longer the owner of FYRE Festival … because someone snapped up the rights to the brand on eBay — and they only needed a little over $245K to snag the winning bid.

FYRE Festival’s rights, IP, brand trademark and social media assets were sold Tuesday on eBay for a measly $245,300.

The online sale closed Tuesday at 12:44 PM ET after 175 bids from 42 bidders … marking the end of Billy’s tumultuous saga with FYRE Festival.

Billy was streaming the final day of bidding Tuesday and when the amount pushed past $240,000 he remarked, “Damn. This sucks, it’s so low.” As we told you in May … he and his team were looking high seven or low eight figures.

As you know … FYRE Festival epically flopped in 2017 … Billy hyped up the music festival as luxury glamping in the Bahamas with huge celeb guests and big name acts … but attendees slept in disaster-relief tents, were served bare-bones sandwiches and didn’t get to see Blink-182, Tyga, Pusha T, Migos, Major Lazer, Disclosure, or even Desiigner.

Billy and his investors didn’t have the cash to actually follow through with the event … and he ended up spending time in prison after pleading guilty to wire fraud and other crimes.

After getting out of the pen in 2022, Billy tried to make FYRE Festival 2 happen … but he ran into a string of issues, including controversy over whether or not local government in Mexico was aware the festival was supposed to take place in their city.

Along the way, there were a couple documentaries on Netflix and Hulu.

Billy announced in April he was selling the FYRE brand … and now it’s finally changed hands.