Gaming

Teen made nearly $2 million reselling consoles, other valuable items during pandemic

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A teenager from New Jersey has made himself a millionaire by reselling current-gen consoles and other stuff during pandemic. His overall sales currently sits at $1.7 million.

High schooler Max Hayden took advantage of the crisis by selling sought-after products that were in short supply. His resold goods include current-gen consoles, like PS5 and Xbox Series X|S. Adding to his overall income, the teen also sold other commercial products, such as Pokemon trading cards, dumbbells, etc.

Hot Products

Both the PS5 and Xbox Series X|S became a hot commodity in 2020. Being the next big leap from the PS4 and Xbox One, both consoles boast of experience-elevating capability. In particular, better and more stable framerate performance as well as native support for 4K display resolution, among others.

Gamers are not only enticed for better quality gaming experience on new consoles, thanks to their more capable hardware. Adding to the machines’ overall appeal is also the free upgrade system. It gives then-pre-existing owners of last-gen consoles shift to newer platforms, with most of the games in their library. Ones they can play via backwards-compatibility while waiting for the native port, if there will be any.

Great Return on Investment

Despite selling like hotcakes by the hundreds of thousands, both consoles saw themselves constantly running out of supply. Although imbalance between supply and demand is one thing, part also of the dilemma are scalpers who hoard the goods for profit. As it appears, Hayden belongs to that category as he buys and resells items at twice their original pricing.

In an interview with the Wall Street Journal, the young entrepreneur managed to resell his procured PS5 and Xbox Series X|S for $1100. That is, versus the acquisition price of $500 per console from official outlets. In his further admittance, Hayden claims to have accumulated $110,000 in revenue in 2020 alone.

Good Business Prospect

The boom in his business subsequently sees the young student leasing warehouse spaces and employing friends to help run the enterprise. He pays his employees at the rate of $15 per hour while he himself spends 40 hours per week managing. But it seems that Hayden will remain busy for longer as he foresees the rest of 2021 as auspicious for his endeavors. That is, considering that the scarcity remains persistent, and while people are willing to pay big money for certain hard-to-claim goodies.

There is no telling how the situation will be beyond this year. But it’s certain that companies like Sony and Microsoft are hands-on at mitigating it through greater production.

Image used courtesy of PlayStation/YouTube Screenshot

Jermaine D. Delos Santos

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Jermaine D. Delos Santos

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