Scalpers Are Selling Xbox Series X and PS5 For as High as $5,000

"Selling stock at inflated prices is a well-established trend, even in the games market," Senior Analyst at Ampere Analysis

This week both the Xbox Series X and PlayStation 5 launched in most countries, including the U.S and UK. The consoles had a bit of a rough start, particularly because, pre-orders were a mess and not everybody who wanted one got it. As anticipated in our pre-order article, scalpers and resellers have once again bought an unnecessary amount of consoles. If you visit eBay, you will find that people are now taking benefit of the situation, and selling next-gen consoles for as high as $5,000.

Yes, this does not right, and if you pay attention, the price is nearly ten times the retail price. I searched Xbox Series X, and found 4,594 results, even though the console was launched a couple of days ago. Average prices for Xbox Series X were close to $1,000.

Xbox Series X eBay
Xbox Series X eBay

Likewise, searching PS5 was no different. The results were close to 9000, and average prices were above $1,200.

PlayStation on eBay
PlayStation on eBay

Both Microsoft and Sony are trying to work their ways to meet demand. Earlier this week Xbox Boss Phil Spencer wrote that the console had the biggest launch ever, and now they look forward to retail stocks.

“Thank you for supporting the largest launch in Xbox history.” Spencer wrote on Twitter “In 24 hrs more new consoles sold, in more countries than ever before. We’re working with retail to resupply as quickly as possible. You continue to show us the connective power of play is more important than ever.”

Similarly, Sony’s Jim Ryan agreed that the demand has been very high; however, they are trying as hard as they can to meet the supply, adding “it may well be that not everybody who wants to buy a PS5 on launch day will be able to find one.”

“The demand as expressed by the level of pre-order has been very, very considerable, but we are working as hard as we ever can to ensure supply for the year-end shopping season.”

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Moiz Banoori
Reading and Writing Everything identified with the game's industry since 2013. A colossal admirer of Rockstar and CD Projekt Games. I can recall my gaming memories, all the way back to Tetris & Pepsiman. We have come a long way.