Translink, which is the public transit system in Vancouver, released a wristband version of their ride passes, called Compass Wristbands, just yesterday morning. It was the first time they had ever released the reloadable wristbands and only 2,000 were available during their first release.
There were huge lineups and people waited for hours hoping to get their hands on the wearable transit passes. It didn't take long for the wristbands to sell out, and they were all gone the very same morning that they were released.
The Compass Wristbands were sold for $6 each. Now, people are actually selling them on Craigslist at an insane markup that we could hardly believe ourselves. If you're looking to buy a Compass Wristband on Craigslist, get ready to drop $100.
This is an insane price markup, 1,566.67% to be exact, for a wristband whose only use is paying for transit –we honestly were surprised that so many even people wanted it and were willing to line up.
One Craigslist ad is currently selling the Compass Wristband for $100, and the seller even said in their description, "This item is sold out everywhere, only 2,000 were released so I think I'm being reasonable". Check out the ad below.
Another seller posted the Compass Wristband for $60. It's less than a $100, but still $60 more than what we'd pay for it and $54 more than what it's worth. Not to mention, there's still a 733.33% markup.
This is only the first release of Translink's Compass Wristbands. The company has said in a tweet, "We are ordering more stock which is expected to arrive in February and will announce when they will be made available to the public".
So if you weren't able to grab your very own Compass Wristband, not all hope is lost and you can save $100 and instead pay $6 when it comes out in a few months. On a side note, the wristbands were way more popular than we expected considering its only purpose is to pay for public transit and it only saves a few seconds from pulling out a Compass Card. So, maybe think about that when you consider whether it's worth lining up for hours just to get one.