https://www.bloomberg.com/news/articles/2020-03-24/medical-masks-auctioned-for-huge-markup-while-hospitals-run-out?cmpid=socialflow-twitter-business&utm_campaign=socialflow-organic&utm_medium=social&utm_content=business&utm_source=twitter
republicans and libertarians will approve of this example of unregulated capitalism
By Polly Mosendz
and William Turton
March 24, 2020, 7:20 PM EDT
At a time when shortages of protective gear are putting health-care workers at risk, more than 750,000 medical-grade masks went up for online auction in Texas.
Bottles of Purell sold for over $40. A box of 16 masks went for $170. They could be had retail for $3 each before the coronavirus.
The week-long bidding that ended Tuesday was hosted by the website Auctions Unlimited. The health-related products pulled in $154,000 in sales, according to Houston-based website owner Tim Worstell. He estimated that he personally made as much as $40,000 on the sales.
Worstell would not publicly divulge the names of the buyers, and he identified the sellers only as “large companies.” He said the companies commissioned his website to sell masks, disinfectant wipes, cleaning solutions and hand sanitizer, all items in high demand as coronavirus spreads. Because the Texas attorney general issued a cease-and-desist order on March 20 to block the sales during a state of emergency, which was declared March 16 by Governor Greg Abbott, Worstell said the transactions couldn’t be completed without approval from law enforcement.
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