Original URL: http://www.theregister.co.uk/2000/10/27/playstation_2_auctions_net_sellers/

PlayStation 2 auctions net sellers 4900% profits

Bidding reaches $15 grand - now this is getting silly, folks

By Tony Smith

Posted in Media, 27th October 2000 10:27 GMT

Updated Sony's PlayStation 2 went on sale in the US yesterday, and while demand is high and supply low, canny consumers are cashing in on the world's desire for the new console.

Early purchasers - or possibly folks who are awaiting their console in the mail - have already begun selling them on, auctioning the next-generation PlayStation on the likes of eBay.

And they're doing very nicely, thank you. An auction on eBay saw bidding reach $6100, though Cnet claims the 15-year-old bidder said he only wanted to bid $610, which is still more than double Sony's asking price.

And now here's another: the bidding closed at $14,999. Mad, they're all mad...

Other auctions have seen prices reach between $1000 and $5000, according to reports from around the Net.

Most folk, we presume, will choose to wait and pay the official $299 price tag. And wait they will have to. Sony allotted just 500,000 units for the US debut, down from one million units thanks to component shortages, and early signs suggest most of them have gone, snapped up by buyers who pre-ordered their PlayStations.

Amazon.com's stock apparently went within minutes of the 12pm PST kick-off. Buy.com's supply of consoles was all gone by 9pm PST. Bricks'n'mortar stores like Toys'r'Us no doubt had a similar experience. ®

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