16-year-old scalper makes $ 1.7 million from the resale of PS5, Xbox and Pokemon cards

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According to a recent interview, a 16-year-old New Jersey high school student has proceeds of 1.7 million dollars in 2020 by reselling scarce products, including PlayStation 5 And Xbox Series X / S . It also took advantage of other shortcomings triggered by the COVID-19 pandemic, such as handlebars, outdoor heaters, and trading cards. Pokémon, whose market has grown significantly over the past year.

PS5 and Xbox Series X | S have both remained hard to find since their launch in November 2020, and the shortage of consoles continues today due to a lack of production components. However, one of the causes of this shortage is due to a widespread phenomenon that has been talked about a lot in recent months, that of scalpers, or touts: using bots, these users often claim retail stocks. as it becomes available, leaving other customers the choice of waiting or paying artificially inflated prices.

Speaking with the Wall Street Journal, Max Hayden, a young 16-year-old student, said he resold dozens of PS5 and Series X | S consoles in 2020, some for up to $ 1,100, indicating a net gain of around $ 600 per unit – both PS5 that the new Microsoft console retails for $ 500 in their major versions. Considering all the resales of him, in addition to the gaming sector, the revenues were equal to 1.7 million dollars.

Excluding the expenses, Hayden estimates he has accomplished a gain of $ 110,000 in profits during 2020, and that this figure has now enabled him to maintain a warehouse and hire two friends for $ 15 an hour to continue his business and handle inquiries and packaging. He currently spends 40 hours a week on the resale business and says he expects to do even better in 2021 as he continues the shortage of consoles and other products.

Hayden then set up a real business dedicated to touting, and even if Sony and Microsoft had to find a solution immediately to the shortage of PS5 and Xbox Series X | S (which for the moment does not seem possible, judging by the words of the producers), we are sure that the very young entrepreneur will find other ways to continue his business and continue to earn.

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