Price gouging didn’t work out for the Colvin brothers as they were forced to stop selling “needy” items on Amazon due to the COVID-19 virus.
What We Know:
- When the Colvin brothers first heard about the U.S coronavirus case in March, they began stocking up on wipes and sanitizers as they were traveling through Tennessee and Kentucky.
- The New York Times reported that their trek led them to buy out the viable stock of a Dollar Tree, Walmart, Staples, Home Depot and places described as “little-hole-in-the-wall” dollar stores in the backwoods.
- The first 300 bottles sold successfully. They sold between $8 and $70 a piece, much higher than the purchasing point.
- The brothers were selling their sanitizers on sites such as Amazon and eBay but soon were stopped as these companies saw they were price gouging.
- According to Matt Colvin, he went “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 what all of this?”
- Amazon restricted thief-party vendors from selling health and sanitation products this past Wednesday to combat price gouging and deceptive marketing.
- “You are receiving this message because you are currently selling, or have previously sold, products such as disposable face masks, hand sanitizers, disinfecting wipes/sprays, isopropyl alcohol or related products,” an Amazon message obtained by The Verge read. “We have implemented more stringent requirements to sell these products in our store and as a result, your offers have been removed. We are not accepting applications to sell these products at this time.”
- The Los Angeles Times reported this past Thursday that eBay would also alert seller listings for masks and sanitation products that they will also be restricted due to price gouging.
Hopefully you can find these products in stores.. Or else, stay home! Stay safe!