Men buy 17000 bottles of sanitiser to sell at inflated cost, now struggling to sell them

Two brothers from Tennessee are reportedly stuck with 17,700 bottles of hand sanitiser. They had earlier purchased the stock to, with the aim of selling it for profit amidst the panic-buying during the Coronavirus outbreak. Matt and Noah Colvin of Hixson, Tennessee 'struggled hard', driving thousands of miles to pick up as many bottles of the hand sanitisers as they could after the first death was reported in the US. According to the reports, they spent around $15,000 to buy the sanitisers. 

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$1 bottles for $70

As per the reports, the duo had expected to sell the $1 bottles online for an inflated price of $70. With people panicking over the spreading disease, sanitisers were quickly going out of stock, and many retailers had upped the prices for the product. But unfortunately, Amazon Inc put a block on their accounts for trying to make money from the crisis.

The pair has been left devastated with thousands of bottles unable to sell them. Speaking to local media, Matt said that he had purchased the bulk of hand sanitisers by just driving around to retail stores in the Chattanooga area. He reportedly added that the pricing on Amazon was definitely higher than retail.

When he was asked whether he would apologise for buying so much sanitiser after witnessing families struggling to buy just one, he reportedly said that he wouldn't apologise. Matt added that with business there are wins and there are losses. 

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He further added that he was simply correcting 'inefficiencies in the marketplace'. He further added that there is an increase in demands in certain cities right now. He reportedly said that if he could make a slight profit from it then that’s fine.

He also said that he was not trying to be on the front page of the news for being that guy who hoarded 20,000 bottles of sanitiser to sell it for 20 times of what it had originally cost him. However, after receiving backlash from people online, he has reportedly claimed that he will donate the bottles of sanitiser left with him. 

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(Pic Credit: Twitter)