These Missoni for Target boots only cost $35 in stores, but sold out fast. Photo courtesy of Target
The Missoni for Target frenzy continues! While many consumers weren't able to purchase the items they wanted or had their online orders canceled, those who got to stores early scooped up nearly everything in sight and listed them moments later on eBay for much higher than their original retail prices. One $40 throw blanket was receiving bids for over $250! Over $35,000 items were listed on the auction site within 24 hours and designer Margherita Missoni urged shoppers to not fall prey to opportunistic eBayers.
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"You guys! Very silly to buy #missonifortarget on ebay for 3 times the price!! For that money go out and get M Missoni!" Missoni tweeted. And she's completely right. Why get caught up in the hype and pay hundreds of dollars on a low-quality Target item when you could buy REAL MISSONI pieces for that price? It makes no sense! Which is why one seemingly nuts eBayer has left us completely dumbfounded.
Tammy Lyn of Tulsa, Oklahoma has listed a pair of Missoni for Target Venetian Rainboots for the Buy-It-Now price of $31,000. She purchased the rubber wellies in a Target store for $34.99. "I would like to turn these rainboots into a rainy day fund for my youngest child, who has just begun her freshman year of college," Lyn wrote in the auction listing. Her outrageous auction caught the eye of CNN, who asked her about her motives. "We have lived frugally and have some savings, but like most Americans, it’s just not enough to cover college, retirement, and life at this point," Lyn told CNN. "Missoni mania looked like the perfect opportunity for a miracle." She is certain the boots will earn her a great deal of money. "I've had offers for them, but I'm sticking with my listing."
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As for how she came up with the figure of $31,000, Lyn says the list price will cover her daughter's tuition for one year. Then she's got several Missoni for Target shower curtains, toss pillows and scarves that she plans to list to pay for subsequent college years. We think she's a little cuckoo. Yes, Missoni for Target items are in demand and selling beyond their original price tags, but there are so many items from the collection listed on eBay that shoppers are realizing the line is not as limited as they once thought. We've noticed that many auction ending bids are dropping to only $10 or $20 above retail value.
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While we doubt anyone would be willing to shell out $31,000 for these rubber boots, perhaps some college institution or wealthy investor will take notice of Tammy Lyn's auction and offer her daughter some scholarship money.
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