The concept of scalping is to buy high demand items and then sell them at a huge markup for profit. There is extremely high demand for certain items that are either difficult to get or are limited. This is the case for the Sony PS5 right now. Sony is struggling to meet the demand right now, and scalpers are loving it as they make money.
A report from Business Insider talks about a PS5 scalper calling himself Mark F who managed to get himself 221 PS5 consoles. He also sold these scalped units for $1,000 each, and in the first week of his sales, he netted $40,000.
His total cost would have been just over $100,000 since the PS5 is priced around $500, so by the time he gets through his inventory, he will have pocketed about $100,000 in profit. He somehow managed to get around Sony’s limitations through the use of bots and online sales. It is very lucrative.
Sony allows customers to purchase one unit each, but it looks like it did not work. We heard that one scalping group got themselves a total of 3,500 units, which could get them over $1 million in profit. Scalping is big business with new game consoles. And business is good.
Source Ubergizmo
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