Would you pay $500 for a discontinued hair serum? Meet the woman making a fortune from selling out-of-circulation beauty products 

By ANNABEL FENWICK ELLIOTT FOR MAILONLINE

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Have you ever suffered the devastating disappointment of having your favorite beauty product discontinued? Many women have, it seems, and they're willing to pay through the nose for a happy reunion.

Daneen Woolstrum, based in Buffalo, New York, runs one of the most successful out-of-circulation cosmetics stores on the net, Discontinued Beauty; where shoppers can browse hundreds of rare, obscure or phased-out products.

'People don't care,' Ms Wollstrum tells Racked, having recently sold an elusive Redken hair product for $500. 'They just really want what they can't have, and they will pay whatever they need to get it.'

Because I'm worth it: Discontinued Beauty is one of the most successful out-of-circulation cosmetics stores on the net; where shoppers can browse hundreds of rare, obscure or phased-out products (file photo)

Because I'm worth it: Discontinued Beauty is one of the most successful out-of-circulation cosmetics stores on the net; where shoppers can browse hundreds of rare, obscure or phased-out products (file photo)

The Redken Extreme PPT Concentrate - original price unknown - is a 'professional-only formula' which fortifies damaged hair. It is currently on sale for $319.45 on Discounted Beauty and there are four available. 

People just really want what they can't have, and they will pay whatever they need to get it

Ms Woolstrum, a hair stylist, sources many of her products from salons that are going out of business and want to liquidate their stock.

It's how her concept initially bloomed, when she was liquidating products from her own salon, Salon Daneen, which is still open.

Ms Woolstrum quickly realized how valuable certain products were for their die-hard fans and started buying up items which were headed out of circulation for re-sale. 

Now on sale: This Redken Extreme PPT Concentrate is a 'professional-only formula' which fortifies damaged hair and recently sold to one customer for $500

Now on sale: This Redken Extreme PPT Concentrate is a 'professional-only formula' which fortifies damaged hair and recently sold to one customer for $500

In demand: Both these products have been discontinued, but Graham Webb's Bodacious perfume (left) is sold by Discontinued Beauty for $300 and ARTec's patchouli shampoo (right) costs $80

Now Ms Woolstrum's business runs out of a 6,000-square-foot warehouse and employs a staff of three.

Winning: Daneen Woolstrum, a hair stylist, founded the company a few years ago

Winning: Daneen Woolstrum, a hair stylist, founded the company a few years ago

'I invest my money in companies that aren't producing these items anymore because they have been bought out by a larger company,' she says.

'For example, Proctor & Gamble is a very large company, which has bought out other brands like Sebastian.'

While some products fetch sky-high prices. 

Graham Webb's Bodacious perfume goes for $300 and ARTec's patchouli shampoo costs $80.

Most, however, are priced between $10 and $30.

Almost everything is new, but for a few partially used items which are labeled as such, and sell regardless.

Of course, identifying products that may or may not be about to gain cult-status is more an art than a science. 

One Ms Woolstrum appears to have mastered to an impressive degree.

 

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