CS-GO skins are they actually bought and sold for upward of $150000?

I’m not a pc gamer so I’ve never played CS, but I just read a story about some kid opening a loot box and getting a sling worth $150k. Do people actually spend that much on an in game skin? Surely you’d have to be worth 100s of millions to justify spending that much on an in game skin? I just don’t understand the economy of it. I’ve only ever spent $20 on a game skin and felt like a dickhead for doing so