Snap Inc’s (Snapchat’s parent company) first product, Spectacles, are all the craze right now on the internet. Spectacles are available in extremely limited quantities through Snap’s bespoke vending machines, called Snapbots. Snapbots’ locations change and are announced on a map here. New locations have been frequent and creative (Venice, Big Sur, Oklahoma, Santa Monica, the Rose Bowl, and the Grand Canyon – in a location accessible only by helicopter). Given limited quantities of about 200 Spectacles per location, a booming secondary market has arisen on eBay and Craigslist, with selling prices as high as $2,500.
I collected and analyzed eBay sales data on the selling prices of Snapchat’s Spectacles over the past 11 days (11/10-11/20). Here’s what I found:
- 345 Spectacles have been sold on eBay for as much as $2,500 and as little as $400
- Collectively, the secondary Spectacles market on eBay has nearly $300,000 in revenue
- The average price for all Spectacle sales on eBay is ~$852
- Spectacles on eBay sell for a lower average price on days when a Snapbot location is active ($813 vs. $891)
- Average prices peaked on 11/12 and have been fairly constant over the past 3 days
These statistics are pretty astonishing for a product with a retail price of $129. The data set is small as of now, but it will surely be interesting to see how prices trend over the coming weeks and in response to greater supply and future Snapchat announcements.
At the macro level, the hype this product launch and its unique release strategy have generated seems to provide a monumental boost in perception ahead of Snap, Inc.’s upcoming IPO.
I sliced the data in a few different ways in the graph/tables below and have made the sales data publicly accessible in a Google Spreadsheet. Feel free to use the data, but I would appreciate a mention if you do.