The Pendulum Rush

I really could not find or coin a better name for this scam, some call it information scarm but I wish you will get a more suitable name for it and drop it at the comment section below. I am still limping between the Pendulum Rush and and red mercury. But the I guess the name is not as important as you getting to know their Modus Operandi and avoiding them.

Priming

It all starts with the spread of information, it is said that there is something in the old technology that makes it so valuable, where I live it was the pendulum clock that was placed on the pedestal.
I person going around I search old pendulum clock, he puts up a prize he is willing to pay for each unit ₦50,000 which translates to 352.1 Steem at current exchange rate of 142 Naira per Steem.

This is a good deal for an old broken relic. A few pendulum clocks are brought out and a clean transaction is conducted in cash. The collector pays for a number of pendulum clocks and a few National Television which are also relics but are of less value. Upon seeing this, more people are coming out with different pendulum clocks, he rejects the most available brand and pays for the others.

A week latter, he re-visits the community with a White man who trys to explain that the clocks contain a small amount of red mercury which will be extracted from the device to be used in bla!-bla!-bla!.....

At this point they may have spent an upward of ₦500,000 buying all the pendulum clocks in the area and as the clocks become rear, that is when the business starts.
More people get to hear of this, some travel out to a relative who still has a pendulum clock.
There is a huge demand for the clock.

The value just went up

The value of the pendulum clock moves up and this send a shockwave across the community and it's surrounding. Houses in nearby communities are rubbed of pendulum clocks as the clock skips to ₦100,000 then ₦150,000 and settles at a wooping ₦210,000 an equivalent of 1478.9 Steem.

The white man went to Togo to get the pendulum clocks he booked there, and is willing to pay that much for a clock on his return the following week.

Clocks for sale

There is this flaying news that a certain man who lives a few communities away spoke to his clocksmith friend in Lagos and the friend has shipped down a huge container full of clocks. And when the prize whent up, he now sales each clock at ₦120,000...

It is said that the white man is back and he is buying the clocks at ₦260,000 at the neighboring town.

People are now buying the pendulum clocks that came from Lagos at ₦120,000 to sale at ₦260,000 with a difference of ₦140,000.
Buy now before he gets to know and pull up the prize.

And in less than three days, all the clocks are sold at ₦130,000 to ₦150,000 each...

The Epiphany

It has been a week and the white man has not come to our community. We ma have to go over and sale the pendulum clocks to him there.

And that is when they get to realize that the same pendulum clocks that they sold at ₦50,000 are the same clocks they have bought, some at ₦130,000 and others at ₦150,000..

Conclusion

There is no moral to this story, but you are free to make one for yourself. Though it is based on real life enent, I still don't have a suitable name for the scam. Please help name this scam so it can be tagged. Try not to be a victim because we have very good scam artists out there.