So the new semester just started and everyone is rushing to get their textbooks. In my Organic Chem class, the textbook that we require costs $150 at the bookstore and there are no used versions available. I, on the other hand got lucky and managed to find someone who was selling used copies of the book for $40 each. Apparently, they had alot of copies and no one else from my class knew about it.
I saw an opportunity to make some major cash here since there are hundreds of students taking organic chemistry. So I purchased ten copies of the book at first and sent an email to everyone in my class, telling them that I am selling used copies of the book for $120. I had a bunch of buyers, all of the books that I had sold right away and I made $1200 with an $800 profit. I still had a bunch of people saying they wanted a copy of the book. I went back to the people who were selling the used books and bought everything they had ( they had 37 copies left) and sold them all to the people in my class.
In the end, I spent around $1900 buying all the books and made $5640 selling them all. So I basically made around $3700 of profit. I told one of my friends about this and she said I was a huge jerk for doing what I did. She thinks I should've just told everyone that someone was selling the book for $40 instead of exploiting the situation for my own personal gains. She also said that I could get in big trouble if the university ever found out about this.
So, really I have two questions:
1) Am I really a jerk for doing this?
2) Did I actually do anything illegal here? Can I actually get into trouble for this?