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January 03, 2007

PlayStation 3 Scalpers Fail to Make Big Bucks on eBay. No Irrational Exuberane for PS3

posted by MR WAVETHEORY at 1/03/2007 01:25:00 PM
When the Sony PlayStation 3 (NYSE SNE) launched, scalpers on eBay (Nasdaq EBAY) tried to sell PS3 systems for $800 to $2,000. Most were listed for around $1,000. The lucky eBayers made a profit. Not so for the unlucky ones. Thousands of unopened PS3s are being returned to shops across the US as scalpers on eBay failed to sell their consoles online for a huge profit. This is largely thanks to Sony managing to push out a fresh batch of PS3s before the Christmas break, lowering interest in the auctions.

Canadian newspaper The Hamilton Spectator recently interviewed a number of disappointed eBay sellers who plan to return their unwanted consoles. One person adds that it'll be "the 'scalpers' who really lose out." Poor things.

There're currently over 1,000 PS3 auctions running on eBay.com

Many auctions don't have a single bid. One system is even selling for less than the retail price at just $475, with no bids.

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