Mad oh! Pat McGrath's $38 lipstick is sold out in 8 secs and now being resold at $999 [photos]

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Supreme's first venture into the beauty industry proved to be a phenomenal success after the streetwear brand's lipstick collaboration with celebrity makeup artist Pat McGrath sold out in just eight seconds. 

The $38 lipstick, which was released on Supreme's website on Thursday, prompted a frenzy of excitement from beauty lovers and streetwear fans alike, with thousands of people clamoring to lay their hands on the makeup item. 

But many were met with bitter disappointment after the lip shade - aptly-named Supreme - which was inspired by the brand's iconic logo, disappeared in mere seconds both in the US and in the UK. 

'[The lipstick] went live at 11am ET and sold out in eight seconds flat,' a spokesperson for Pat McGrath said, adding: 'The UK sold out in 8.2 seconds.'

While the lipstick was Supreme's first foray into makeup, it seems to have gone the way of so many of the streetwear brand's previous collaborations, with savvy buyers offering it up on re-sale websites for more than 26 times the original price. 

On StockX, the lipstick was being sold by dozens of users, with one asking for a whopping $999 for a single tube. Others offered the product up for anywhere between $100 and $300 - a far cry from its original price of $38.