PlayStation 5: Teenage scalper made nearly $2 million reselling consoles

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When it comes to game consoles, the PlayStation 5 and Xbox Series X are a very lucrative find.

The pair have been a challenge to get your hands on since they came out and it doesn't look like slowing down anytime soon, especially on the PlayStation front.

This makes the achievements of teenager Max Hayden all the more impressive, and slightly annoying, if we're being brutally honest.

Hayden, from central New Jersey, has bought and resold a number of consoles for over $1,000, making double on each one piece of kit.

The Wall Street Journal reported that he has made a profit of more than $110,000 on $1.7 million in revenue. This goes beyond just selling consoles, however, he has also been reselling anything from patio heaters to Pokemon cards.

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He may be just 16, but Hayden co-rents warehouse space and employs friends to help him manage the workload!

"Some people call this retail arbitrage… I wrote an essay for school on the topic," are the words of Max.

This isn’t the first time something like this has been done, reselling is fairly common in the modern age and this has only been accelerated amidst the pandemic. What varies is the amount of success enjoyed.

The aforementioned console shortage comes as a result of a lack of semiconductors. It goes beyond the PS5 and new Xbox too, televisions, mobile phones and cars also being thrown into the lurch.

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ENTER GIVEAWAY

COVID-19 was and still is the root of all issues. A delay in supply began when the pandemic first hit as factories and the like closed.

Production is getting back to normal as we enter the so-called ‘new normal’, but a hike in demand following a growth in the amount of people that game has left manufacturers on the back foot once again.

The previously mentioned semiconductor issue isn’t over yet either.

GamingBIBLE reports that this could continue into 2023. That being said, sales on the PS5 aren’t showing any signs of slowing with an impressive 4.5 million units being bought globally in 2020 alone.

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