PS5 And Pokémon Card Reselling Spree Nets 16-Year-Old A $110,000 Payday
What would you do if, at 16-years old, you made $1.7 million in revenue and $110,000 in profits? What if this income came from selling (or scalping) things such as the newest PlayStation and Xbox consoles at up to double the sticker price? That is exactly what one teenager from New Jersey did during the pandemic, cornering the resale market on a wide variety of products.
From consoles to Pokémon cards and pools, the pandemic has led to shortages of all kinds of products due to production issues and heightened demand. As capitalism goes, this gives rise to an opportunity to make money from these products in the resale subindustry, and 16-year-old Max Hayden saw this. For forty hours a week between schoolwork, Hayden handles orders, manages an inventory, supervises employees, and pores over spreadsheets, reports the Wall Street Journal.
Though the business may be successful, moving from the family garage to a warehouse and hiring two of Max’s friends at $15 an hour, has drawn some ire from buyers. People looking to get their hands on the latest consoles leave messages like “How the HELL can you justify charging $1500 for a $500 PS5” and “You should really be ashamed of yourself.” However, Hayden has not been using bots or any sneaky method of getting his hands on consoles that anyone else could not do themselves; it just takes quite a bit of work and patience. Moreover, Hayden’s father explained that since it is the resale of luxury goods and nothing essential, it is not a big deal because “This is capitalism.”
Whatever you may think of the means, the ends are certainly impressive; and this is not lost on Hayden. He has made new friends, gained a deeper understanding of capitalism and politics, and has learned to run a business in the whole process. To celebrate this, Max is also looking to rent a beach house for himself and new reseller friends around his age from around the country. Perhaps that is not the best way to spend money at that age, but you probably would not have known what to do with it all at 16 either.
(Max Hayden Images Courtesy Of The Wall Street Journal)