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120 Comments
- ScottDaMan, on 10/12/2007, -1/+57Yes, just like Google.
- ScottDaMan, on 10/12/2007, -0/+44I've been watching this and have noticed the 20GB standard version of the PS3 is selling for dirt profit. I've seen auctions close for $590 + $35 shipping on this model. THe 60GB is making a little more profit on average but still, was it worth waiting in the long lines overnight for a couple hundred (if that) profit?
Instead of sampling 5 simple auctions, sample 100 closed auctions and you'll get a better feel.
http://search.ebay.com/ws/search/AdvSearch?sofindtype=1&ssPageName=h:h:advsearch:US
Click the box "Completed Listings Only"
Search: Playstation 3
Set Min US $ to $100 (avoids PS3 games and most accessories)
Click search -> Login if you haven't yet
Check the results. A bit shocking.
This is something you should do before selling. Model your auction off of the ones making more profit. What are they doing to get the higher bids? What time was the auction listed? What bonuses did they give? Did you see the naked man auction featured on news sites? Can you drive press to your auction with a gimmick like this? Etc. - atomSmasher, on 10/12/2007, -1/+21What do you mean "now"?
I've heard the term eBay used as a verb on a regular basis since I created my account in 2002. - fmaxwell, on 10/12/2007, -5/+21Here's a really radical idea:
If you want money, do something that benefits the economy: Produce, design, or repair products. Provide a useful service. But don't be a worthless profiteer whose big "contribution" to society is driving up the price of a scarce item so that only rich kids can get one for Christmas.
People who are buying up PS3 consoles just to resell them at a profit are no better than ticket scalpers. - strictnein, on 10/12/2007, -1/+14welcome to 5 years ago
- inactive, on 10/12/2007, -6/+18Anyone calculate the fact that the PS3 is a hunk of ***** until the game library has lots of quality titles under its belt? We're talking a year or more from now, PLUS the impending fate of Blu Ray.
- crash331, on 10/12/2007, -4/+14I don't see the downside. $22 an hour for something that is hardly considered "work". Pretty damn good if you ask me.
- Rabbethan, on 10/12/2007, -3/+11@kevin45: Because your kid really wants one.
- edrift101, on 10/12/2007, -2/+9For some reason, I just want to beat the crap out of this guy and take his money...
- chocobomog, on 10/12/2007, -4/+11Even with such a small (and arguably flawed) sample, you averaged $22 an hour which isn't too shabby and probably more than most of the readers of digg make. And if a digger makes more than $22 hour than they probably work at a place which gives them paid sick/vacation days. My friend took the day off to buy his PS3 and he still got paid for that day at work, plus the profit from the eBay sale.
That's including the $0 profit auction you added which shouldn't count, because the seller will sell the PS3 again and will eventually get a profit.It doesn't take too much time to resell an item on eBay. Take out that $0 and the average will rise dramatically.
Not to mention in two weeks those prices will rise even higher as all the late buyers (parents) start looking for a PS3. Every Christmas, the most-wanted item, be it furbies, elmo, etc, always raises in price exponentially in the days before Christmas. - inactive, on 10/12/2007, -2/+8Whatever. Who is going to find out? The IRS certainly won't catch it. Ebay doesn't report it to them. ***** the IRS.
- FishyJoe, on 10/12/2007, -1/+7But there is also the high probability of fraud with these PS3 auctions. So the average is probably a lot less than $22 when you factor in the possibility that you will either never get the money or have to deal with ebay/paypal support.
- ICSU, on 10/12/2007, -1/+7You forgot to calculate ebay's profit into the price.
- EduardoTOWB, on 10/12/2007, -2/+7a 60gb unit with resistance and a $60 component cable included just closed on ebay for $530 +$40 shipping after only two bids.
woops!
edit @ desolite: depends where you are. i got my wii on sunday at a circuit city when they opened with a new shipment of 24. - thewatchman, on 10/12/2007, -1/+6Remember, too, that an item bought at retail and sold at a higher price results in a short-term capital gain taxable as ordinary income, and must be reported on the 2006 form 1040. (Seriously)
- thejokell, on 10/12/2007, -1/+6His calculations are off. The average profit for consoles that *SOLD* was $331.50. The one that didn't sell can be relisted for free, so there's no need to add a $0 profit into the averages...
- undersky, on 10/12/2007, -0/+4@deablo13
sorry, but that was like elementary level math...are you retarded? - kneu1, on 10/12/2007, -0/+4Mine sold last week and went out overnight. You are right, it cost about $90 from WI to FL. The buyer was adamant that it had to be there by the 5th. Maybe a St. Nick present?
- kneu1, on 10/12/2007, -0/+4no it won't. the ebay price for a 360 dropped like a rock last year when best buy had a last minute blowout of them right before Christmas. There will be another decent sized Sony shipment. I have been watching the auction because I just sold mine. The number of systems for sale has remained constant since a week after launch - around 15K. With that much competition it's a buyers market ... not a sellers.
- taraba, on 10/12/2007, -0/+3Not to mention the fact that he calculates $237 profit on a $837 auction. Really? So where can I buy a $600 PS3 and not pay any amount in tax or shipping (if I buy it online)? There's atleast $30-$50 in tax in there or some shipping costs.
- stonedgeek, on 10/12/2007, -0/+3PS3: Is it even worth buying at retail price?
- inactive, on 10/12/2007, -19/+22Oh, so 'eBay' has became a verb now has it ?
- inactive, on 10/12/2007, -1/+4Not to keep.. to sell. Why would someone BUY one from ebay is what I'm thinking. There are valid reasons to sell it though... if you like waiting in week long lines.
- ScottDaMan, on 10/12/2007, -11/+14This is a case of too much supply with too little demand. Oddly enough, there has only been less than 400,000 PS3s supplied globally ( http://www.nexgenwars.com/ )? All I can say is... ouch! If my kids wanted a PS3, I'd convince them to get the Xbox 360 with a few games instead. Or even, the Wii (depending on age and my value of my TV set).
Good story, hope it reaches the games section featured.
Edit: Where is the shacknews discussion thread for this? I'd like to read it. - djSyndrome, on 10/12/2007, -0/+3How much closer to Christmas do you want to get? It's less than three weeks away, and these auctions have to be won, paid for, and shipped. And most of them will be shipped ground, because shipping 12 pounds next-day-air is going to run you nearly a hundred bucks if you and the seller are on opposite sides of the country.
- clownguyx, on 10/12/2007, -1/+4That sounds like a good reason to get one if you ask me. My Wii won't do that.
- poxonyou, on 10/12/2007, -3/+6I'm guilty of jumping on the reselling trend after I lucked out and got one just as a shipment arrived. Instead of being happy with one, I got greedy and started hunting for them. Well, after almost 2 weeks of eBay, craig's list, and advertising in the local paper, I still have the 3 I bought, including the one I got a few days after launch by luck. I've gotten only 3 calls and got attempted scammed on eBay (bidder threw in a really high bid at the last second and ruined my auction, then wanted me to send it to a fake address). I just want to break even with the amount I've spent advertising now.
As for eBay, it's not worth it on there anymore. For the amount spent on it, you can post it for a week in the local paper with high exposure each day. Plus, it's harder for someone to scam you and you have complete control over who can buy it or not. They're still in really short supply, but that's partly due to so many people trying to resale them, not demand from consumers. Also, I really wanted one for myself (Linux, emulators, Blu-Ray, plays PS2 games, etc) and hoped I'd make enough in profits resale to put one within my budget, but it looks like that dream is over. - LooterMcBeer, on 10/12/2007, -0/+3Keep in mind that PS3's are starting to show up in stores now also.
My local walmart had 8 of them on the shelf yesterday and about 20 people standing around saying "Why would i pay that when i can get the Wii for cheaper" or " Id rather have the 360" and the one i heard 3-4 times most relevant to this article - " There is literally thousands of them on ebay and noone is making any money anymore its not worth it"
and out of all those people none bought one when i left they were all still there and had been all day long. - chriskzoo, on 10/12/2007, -2/+5Well, glad I got $1675 for a 20GB model closing it the day before the launch. It's all about timing.
- cpanic, on 10/12/2007, -0/+3The blog author forgot to figure in the PayPal transaction fees and sales tax paid when the system was purchased from the store. His example should look like this:
Paypal Transaction fee = 25.39 (2.9% + 0.30)
865 (ave closing price)
- 31.31 (ebay fees)
- 25.39 (paypal fees)
- 636 ( price paid for premium system + 6% ave state sales tax)
------------------------------
= $172.30 profit - Crass22, on 10/12/2007, -1/+3theres no sales tax in oregon :D
- staticneuron, on 10/12/2007, -0/+2Thats great... If everyone who was only interested in named exclusives the allure of buying the PS3 would be nil. The same goes for the 360 and the Wii. My personal hopes for the PS3 are to see games that are either sequels or just as good as my fave games on the PS2. Since MGS, GTA and FF is assumed to be the "only" reason some people like the PS line, maybe I can shed a light on a few exclusives that brought joy to my heart on the PS Line:
Ace combat series, arc the lad series, atelier Iris, Berserk,Castlevania: Curse of Darkness, Contra: Shattered Soldier, Devil May Cry series, Disgea 1 +2, dragonquest VIII, Gitaroo Man, god of war,Gradius V, Grandia series, guilty gear series, Ico, kingdom hearts, La Pucelle, Mad maestro ( I may be the only one), Magna carta, makai kingdom, maximo, okami, onimusha, phantom brave, radiata stories, rygar(was awesome when it first came out), steambot chronicles, tales of legendia, Virtua fighter 4, way of the samurai and zone of the enders second runner.
Over 32 franchises and maybe 45 or more actual games in each respective line. And I only listed the games that I have personally liked and played( also excluded final fantasy and mgs line and other titles I prefer to play on the PS2). There are many more games that have garnered acclaim and have their own following. Talking about the PS3 only having fans because they want only 2 or 3 games is really not true. There are only 5 or 6 titles I can expect for the 360 (by experience with previous xbox) and about 8 or 9 from the Nintendo line. The PS line has the largest and most varied amount of exclusives out there and to think that 2 or 3 games leaving the line up is going to cause Sony's fanbase to disperse or for Sony to crumble is only a futile wish. - dgrgich, on 10/12/2007, -1/+3I lucked onto a 60gb PS3 last Friday night at Walmart. Total luck - they were just sitting there.
I bought it ($645) and brought it home to scan for the going rate of the PS3 60GB model. It was around $850.
I put it up for auction starting at 9:15am PST with a Buy It Now via PayPal for $825 with $50 shipping via 2 day Fedex. I made sure to say 'Immediate Payment necessary' to stop auction.
It sold in 32 minutes. I had my money immediately. Shipping to Ohio from my address cost $80 including a box. My profit for about 30 minutes of work was $150.
I guess the moral of the story is that yes -- if you luck into it and have an established positive eBay account or know someone who has an established eBay account, it is worth it. Would I wait more than a couple of hours? Nope. - finbec, on 10/12/2007, -1/+3Too bad Sony would easily shut down any site that tried to capitalize off the name PlaystationNetworks.com. The same thing happened to an old laptop battery company I worked for who used IBM, Dell, etc in their URL's. Cease and desist letters galore.
- inactive, on 10/12/2007, -3/+5How many exclusives does PS3 have left again? MGS? God of War? GT?
GTA is going to 360 on a dual launch.
Explain why I'd want to pay $600+ for a system that has a few exclusives left (that are nowhere near complete yet) running on unproven, nonstandard format (blu ray) in its first gen of hardware? - offEND, on 10/12/2007, -0/+2I doubt that most of the PS3s up for sale on eBay right now, or even the past week, are ones that somebody stood in line for 24 hours or something for. Anyone who waited on launch day to snag and eBay a PS3 most likely already sold it 2 weeks ago for mucho profit.
All the current PS3s are ones where folks probably had a minimum of wait time or just got lucky and snagged one. So the "waited in line for hours" argument doesn't really jibe with the current batch of eBay PS3s... - deablo13, on 10/12/2007, -0/+2i wish my xbox would do that to
- kneu1, on 10/12/2007, -0/+2I don't know about that offEND. I posted mine on ebay on launch day. It did not sell on day one, by the end of the day there were 10K in front and 10K behind mine. Nobody saw my auction again until day 7 when it ended. It did not sell, I waited a few days and relisted and sold it for a buy it now price of $1200 last Tuesday. Had it not sold on the first day I would probably still have it because of the competition. Right now there are over 16,000 systems on ebay.
Luckily I did not wait in line for this thing. I walked up to my mall gamestop 20 minutes before it opened and preordered one. No waiting = All profit - bearda, on 10/12/2007, -1/+3That's assuming they're real bids. User IDs are hidden so there's no way of knowing if the top two bidders are I_Hate_Greedy_People45 and I_Hate_Greedy_People_46.
- beedun, on 10/12/2007, -1/+3That's about what I profited on my 360's during the week of Christmas last year ;)
- Rivetgeek, on 10/12/2007, -0/+2@d8cam, that's because just like velcro, jello, jeep, or superglue, once a brand name becomes part of popular language and is commony used to represent an action or group of products, it becomes much more difficult in terms of copyright to protect your brand name.
- burndive, on 10/12/2007, -1/+3@fmaxwell
Ticket scalpers and PS3 ebayers illustrate the same economic principle: The price is too low for market conditions. If I really REALLY want a PS3 before Christmas, I can get one, for a price, thanks to people who buy them at the store only to sell them on ebay. If you go to a show/game/event, and you don't have enough tickets, you can get one, thanks to scalpers.
In a perfectly functioning economic system, an item would be sold at a price determined by, among other things, scarcity. Sony has artificially LOWERED the sale price nd forced this price on retailers because they want to get an installed base out there, and because charging some people more alienates customers.
Scalpers and ebayers serve customers by making markets more efficient: the buyers who are willing to pay more get the item, those who aren't either wait, or buy a competing product. - inactive, on 10/12/2007, -1/+3Not to mention Ebay's fees + paypal's
- dagamer34, on 10/12/2007, -0/+2They can catch you if you're making an excessive amount of money, but of course, if you pay in cash for some things, they'll never know.
In any case, the IRS has much bigger things to worry about than people gaining money from others stupidity. - DangerMouse9, on 10/12/2007, -0/+2An easier thing would be to make an anonymous call to the IRS
- VeganG, on 10/12/2007, -0/+2@Zoshchenko:
At 14 years old, a boy is ready to start saving up on his own if he really wants it. - GarySZ, on 10/12/2007, -1/+3unless you're in NH
- undersky, on 10/12/2007, -0/+2ROTF that was a really good one
- chadwn, on 10/12/2007, -1/+2No sales tax in NH (Live Free or Die) and I think as well in Delaware.
- FishyJoe, on 10/12/2007, -1/+2Even when you think you have the money, a number of things can happen. Phony checks, stolen CC numbers, chargebacks, etc.
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