With TikTok no longer available in app stores in the US, phones with the app installed are being listed on eBay for up to $999.999. Learn how scarcity and user desperation have created a multi-million dollar market!
Over the weekend, TikTok was pulled from Apple and Google’s app stores in the United States, leaving many users in despair. Even though the service was back up and running on Sunday, the app remains unavailable for download. Anyone who accidentally deleted the app or lost their phone is now in a bind. The result? A burgeoning eBay market for phones with TikTok already installed.
An Opportunity for eBay Sellers
While some cry, others sell handkerchiefs. Many users are capitalizing on TikTok's shortage listing their phones on eBay and other platforms, banking on the desperation of those who need the app. With prices ranging from a few thousand dollars to as high as $999.999, these sellers are trying to turn other people’s needs into profit.
Scarcity that generates luxury
TikTok isn’t just an app; for many, it’s a work tool or a source of daily entertainment. Content creators who rely on the app to make a living see this scarcity as a major problem. And as they say, value is in the eye of the beholder. For some, paying a premium for a phone with TikTok installed may seem like a solution to keep producing content.
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It’s no exaggeration to say that some people are addicted to TikTok. Examples of this include extreme protests, such as the case of a teenager who set fire to a congressman’s office in the US against the ban on the app. This level of emotional attachment explains why a phone with the app can become an item of almost irrational desire.
Curious cases of phones sold on eBay with TikTok
A simple search for “TikTok phone” on eBay reveals outrageous prices. iPhones are selling for as much as $999.999. These prices are absurd, but they show how some sellers are willing to gamble on rarity. There have been reports of real sales, such as an iPhone listed for $22.000. Is it worth all that?
This isn’t the first time that a dearth of apps has created crazy markets. Remember Flappy Bird, that addictive little game that was pulled from stores in 2014? Or PT, the PlayStation Store demo that was removed in 2015? In both cases, devices with this software were sold for absurd amounts on auction sites. History repeats itself with TikTok, proving that scarcity can transform the ordinary into the extraordinary.