Reportedly, some PS5 scalpers think their negative reputation of buying and reselling the consoles at a higher price is unfair and unjustified, comparing the scalping industry to buying and reselling food produce from farmers.
Scalping products and consoles, or buying them in bulk reselling them at significantly marked-up costs, became a major issue last year when the PS5 and Xbox Series X/S finally released. Approximately 10-15% of all PS5s have been bought and resold by scalpers at a much higher cost, according to data engineer Michael Driscoll, while some normal consumers are still unable to get their hands on the PS5 for Sony’s retail price. Oftentimes, scalpers resell Sony’s new console for upwards of $700, and even sometimes as high as $1,000 to consumers willing to pay the steep price.
But according to a recent story from Forbes, some scalpers feel that this negative reputation they’ve garnered is unjustified, believing that the public has largely misunderstood their intentions. Forbes interviewed The Lab’s co-founder opting to be known as Jordan. The Lab is a private group that advises users on how to scalp products such as the PS5, also known as a “cook group.” On the bad reputation, Jordan commented, “There seems to be A LOT of bad press on this incredible valuable industry and I do not feel that it is justified at all.” He continues, “All we are acting as is a middleman for limited quantity items.”
Jordan tells Forbes that he secured 25 PS5 units in January alone and was able to resell them for £700, about $966, while the highest recommended retail price for the PS5 is about $621, or £450. But Jordan believes this is completely ethical and isn’t dissimilar to how other businesses operate. He compares scalping PS5s to Tesco, which buys milk from farmers and upsells it to consumers. “No one ever seems to complain to the extent as they are currently doing towards ourselves.”
Though Tesco has undergone investigations for the way it priced milk specifically, Tesco is responsible for services such as preparing products for individual sale and maintaining storefronts. In regards to the PS5, scalpers add no value to reselling consoles because Sony and individual retailers such as Target and GameStop have already provided the essential services needed for individual sale.
Additionally, a couple of Jordan’s peers, who asked to be named Alex and Regan, lightly detail how they bypass security systems by utilizing bots to purchase PS5s quickly. They employ techniques and software to give them an advantage over regular buyers, such as bypassing the “1 per customer” policies many storefronts have, then turning a profit, which some might argue isn’t as ethical as Jordan claims it is.
The PlayStation 5 is out now.
Source: Forbes
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