Trader Joe's $2.99 mini tote bags now sell for $500 on eBay

Wildly popular mini canvas tote bags from Trader Joe's are being resold online for nearly 200 times their retail price. 

The downsized versions of the grocery retailer's traditional resuable totes, which come in four colors and cost $2.99, have become somewhat of a sensation, selling out at stores across the U.S. That's led fans of the bags to scour for them on platforms including eBay, where a set of four tote bags listed on Monday for $499.99. That breaks down to $125 per bag. 

Another eBay listing prices a single red mini-tote bag at $280. Other listings have slightly more affordable prices, although are still about six times their original cost.