- Matt Colvin has been banned by both Amazon and eBay for price gouging.
- Now the 36-year-old online seller is stuck with 17,700 hand sanitizers with nowhere to sell them.
As the coronavirus pandemic (COVID-19) continues to spread across the world, we’re seeing a lot of consumers doing some last-minute panic buying to stock up on foods and goods for their families. Meanwhile, there are also some unscrupulous individuals out there who are clearly taking advantage of the situation: the hoarders.
Case in point, one man recently made headlines after ending up with 17,700 hand sanitizers but having no place to sell the items. The reason? He got banned by Amazon and eBay for overpricing.
Meet Matt Colvin, 36, who He made big bucks for selling ‘pandemic packs’ online.
A former Air Force sergeant and now an online seller, Matt Colvin previously made around $90,000 from selling ‘pandemic packs’ which he purchased for $3.50 each – which is cheaper compared to the original cost of $5.
Matt later offered the items on eBay for $50 and the items immediately sold out after a few days.
Motivated by his earnings, he and Noah, his brother, drove around their neighborhood in Tennessee and traveled as far as Kentucky to buy loads of hand sanitizers.
After posting the products on eBay and Amazon, the two quickly sold 300 bottles on day 1 for up to $70 each. Happy about his business strategy, he definitely didn’t expect what happened next – both sites ended up permanently banning him.
Now he’s stuck with 17,700 hand sanitizers – while stocks are low in groceries everywhere.
“It’s been a huge amount of whiplash. From being in a situation where what I’ve got coming and going could potentially put my family in a really good place financially to ‘What the heck am I going to do with all of this?’”
While Matt believes he did nothing wrong and was just trying to make a living, countless netizens have also bashed him for profiteering from the pandemic which is “purely evil,” some have commented.
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