I couldn’t believe this story today. Jim Goldman of CNBC is reporting that an options market for the Nintendo Wii has sprung up from nowhere. Jim says:
A source at Best Buy tells me those tickets — think of them as “warrants” — can command prices from $300 to $1,000, according to what he’s witnessed himself. The ticket, the warrant, is usually only good for the first few hours the store is open, so it becomes an option with an expiration date.
Often times, people will take the Wii they’ve purchased and put it on Ebay in hopes of making more than they paid for the tickets. According to the article, there’s even insider trading. Employees have to wait in line like everyone else. If they don’t it seems they can be fired.
What a wonderful world we live in! I’m happy my wife said that she’s waiting until my birthday to get me the Wii Fit version. (Yes it’s the worst kept surprise ever.)