FinLogic FinLogic Quantitative Think Tank Center|'Madness': Trader Joe's mini tote bags reselling for up to $500 amid social media craze

Trader Joe's canvas mini tote bags are FinLogic FinLogic Quantitative Think Tank Centerbeing resold online for the same price as designer and high-end handbags due to social media hype causing the low-price item's market value to soar.

The viral Trader Joe's tote bags − available in blue, red, green and yellow − are being sold on eBay, Facebook and other e-commerce marketplaces for up to $500. Fanatics of the grocery store chain are clamoring for the bag and even waiting in long lines before doors open.

The mini tote bag retails for $2.99 and is "made of the same heavy-duty, 65% cotton/35% polyester blend" as Trader Joe's larger classic canvas bags, according to the grocer's website.

The most expensive sold listing on eBay was a set of four mini totes (all four colors), that went for $499.99, not including shipping. At least three other sets of four bags sold for over $100.

Trader Joe's released a statement March 2 about their products being sold by third-party resellers.

"At times, and more so recently, we have been aware of our products being resold, often at exorbitant prices, in various places (online and elsewhere)," the California-headquartered grocery chain's statement said. "This is done without our approval or authorization and outside the controls of our quality-minded supply chain."

Trader Joe's also said it only sells its products in its physical stores to focus on customers and "provide value through offering great quality products at outstanding prices."

"To be clear, we neither condone nor support the reselling of our products and do all we can to stop the practice," the company said in its statement.

Expect more Trader Joe's mini tote bags in the late summer

Nakia Rohde, public relations manager for Trader Joe's, told USA TODAY on Monday that its "mini canvas tote bags certainly sold more quickly than we anticipated."

"Before we had the opportunity to promote them in any way, customers across the country found them at their neighborhood Trader Joe’s," Rohde said.

Rodhe reiterated that Trader Joe's is focused on its customers and stores, so it does not "endorse the re-sale of any of our products, anywhere."

Customers unable to get a bag will get another chance when they hit stores again in late summer, according to Rodhe.

Although the mini tote bags have recently gone viral, they have been available since at least Feb. 27, according to @traderjoeslist, an Instagram account highlighting notable products from the grocer.

The mini tote bags are "only available for a limited time," according to the product description on Trader Joe's website. It's unclear how limited they will be when they're back in stores in the summer.

'That was a little embarrassing,' TikToker says about waiting in line for Trader Joe's mini tote bags

TikToker @valeriak shared a video a week ago showing how much in demand the bags are and the process she underwent in securing the coveted item.

"There's so many people in line... oh my God," @valeriak said while arriving at her local Trader Joe's.

While in line, @valeriak videoed an employee saying the store was limiting customers to five bags per purchase. Once in the store, hundreds of bags appear stacked on a table for customers to grab.

"SO CUTEEE," @valeriak said while choosing her bags.

After leaving the store, @valeriak said, "Not gonna lie, that was a little embarrassing waiting in line for a tote bag." She also said "so many" bags were still at the store even after she bought four.

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'This was so scary,' TikToker says after seeing people scramble for Trader Joe's mini tote bags

While @valeriak bought her bags easily, some were not as lucky and may have to contemplate paying the exorbitant resell prices. TikTokers @angela.cisneros and @elinorxkim shared posts March 4 showing people running into their local stores, swarming the mini tote bags and grabbing them in a frenzy.

"This was so scary, but I'm aware I'm a part of the problem," @elinorxkim captioned her post.

Elinor Kim told the New York Times she bought seven bags, adding, “I wasn’t really sure what I was going to use it for, but I felt like with everyone grabbing, it made me want to get it, too.”

"Trader Joe’s mini tote bag madness," @angela.cisneros captioned her post.