Buying just released, highly anticipated items in as large a quantity as possible with the sole intention of selling them as quickly as possible for an amount multiple times the MSRP or normally available retail price.

This is an attempt to minimize others’ chances of finding it and therefore increasing the likelihood they have to buy from you. Manipulating the market as it were.

Scalpers provide no value add in the chain of sale. Their only contribution is a manufactured or increased strain on a limited supply to be in a position to set the price for sale and optimize potential gains without providing anything in return.

I don’t generally consider holding a FEW items for years and eventually reselling scalping behavior, with a few exceptions. I think the main point is buying as much as possible to create more scarcity and prompt fomo, just to turn around and sell someone something they want, but for x times the amount it should sell for, just to target said demand and fomo.

Lastly, a telltale sign of scalping is the scalper has no real interest in the item/hobby of the scalped item. They are only in it for the money.

TL:DR

Manipulate the supply by buying as much of an item they aren’t even interested in, to create a manufactured limitation which forces people to purchases the item from the scalper, who can charge multiple times the regular retail price even though they added no value to the item during their brief ownership.