PS5 and Xbox Series X scalper thinks it’s creating ‘young entrepreneurs’

Jack Bayliss, a 24-year-old PS5 and Xbox Series X scalper, has an interesting take on the unsavory practice of hoarding stocks and selling them at inflated prices.

Bayliss, owner of a scalping service called Aftermarket Arbitrage where members can pay £30 (about $40) a month to get updates on desirable items such as PlayStation 5 and Xbox Series X consoles, thinks he’s creating ‘young entrepreneurs’ through his business.

Addressing the UK Sky News (as originally spotted by VGC), Bayliss said he was “very much in tune with my moral compass, as a person”, and didn’t really mind the idea of ​​families missing out or paying too much for consoles.

“For me, owning the PS5 or an Xbox isn’t a necessity, it’s a luxury, okay?” “If you can afford to spend £450, spending the extra £100 should be pretty marginal, if you have the money ready to spend on it.

“Yes, some families are going to have to pay £100 more, but what you don’t think about is our members: they have 30 consoles, they make £100 on each one. And then they make a good month’s salary in A few days.”

Bayliss says he earns £45,000 a month (around $60,000) by helping other people buy shares wholesale and reselling them at a higher price before users can buy them at the list price. This, according to Bayliss, allows others to create a healthy side income – he says some members have been able to quit their regular jobs.

“What they’re doing is they’re entrepreneurs, they’re going out, creating a side income, and they’re doing something that 90% of the population can’t be bothered to do,” Bayliss said. . “They spend more time with their families, with their children. We’ve had people who have been able to renovate their homes, they’ve bought the kids a climbing frame, they’ve bought the wives new cars, they’ve bought themselves new cars.

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Analysis: Scalping could soon be banned in the UK

The practice of scalping in the UK has come under intense scrutiny over the past year or so, with MP Douglas Chapman calling for it to be banned, along with ticket sales.

The use of sophisticated automated robots is primarily driving new PS5 and Xbox Series X consoles being purchased before consumers have a chance to purchase them, and Chapman is calling on the UK government to ban their use.

While Bayliss says banning bots wouldn’t impact her business and obviously has a more positive view of her job than others, Chapman says the practice needs to stop.

He said: “The bottom line is that this is a fairness issue for consumers, which also impacts businesses.

“This is a situation where buyers are treated badly and have to pay way beyond the ratings for goods, goods which are then not covered by warranties or the right of return, or compensation for defaults.”

We’ve seen PS5 and Xbox Series X scalpers paint themselves in a different light before, with one saying consumers should “feel sorry” for them. Last year, a PS5 scalper said he got “a lot of bad press”, and even went so far as to say that the practice of scalping is an “incredibly valuable industry”.

For now, with PS5 and Xbox Series X stock remaining hard to come by, scalpers will continue to capitalize on the limited supply and high demand. Our advice? Don’t pay more than the odds for either console. Instead, stay tuned to TechToSee for inventory updates at legitimate retailers — so you’ll never pay more than list price.