Despite ongoing supply constraints, Sony has successfully sold over 10 million PlayStation 5 consoles to date. That’s a staggering number, and as the industry recovers from the pandemic, those numbers are expected to continue to rise. In fact, while countless customers are still desperate for the console, there are signs of improvement in the market. Forbes reports that scalpers are struggling to make huge profits on PS5 consoles as resale prices have fallen nearly 30%.
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PS5 resale prices have fallen in recent months
StockX – a secondary market for sneakers, collectible cards, game consoles, etc. Forbes that the resale prices of the PS5 have dropped significantly in recent months. During Cyber Weekend 2020, Scalpers were selling disc versions of the PS5 for up to $ 1,000. As of this month, the console has sold for around $ 715 on average. Prices are also 10% lower than they were in June.
As for the PS5 Digital Edition (no disc player), prices also peaked at $ 1,000 last December. Resellers now earn less than $ 700 for every PS5 digital edition, which Forbes indicates that this is a decrease of 6% from three months ago. Of course, the resale prices are still much higher than the retail prices of either version of the console. Sony charges $ 399 for the digital edition and $ 499 for the standard PS5.
“To put it in perspective, in early July I would have auctions ending at around $ 760 + $ 40 for easy shipping,” said an eBay seller named Matt. Forbes. “Now I had an auction that didn’t have an auction at $ 729 + $ 40 shipping and I only had one end at $ 709 + $ 40 shipping.”
Xbox Series X resale prices are on the rise
In an interesting turn of events, Xbox Series X prices have gone in the opposite direction. StockX data reveals resale prices for the next-gen Xbox peaked during Cyber Weekend at around $ 750-800. By July 2021, those prices had fallen about 25% to $ 600. But in September, prices jumped again. Xbox Series X consoles now sell for an average of $ 725. StockX Senior Economist Jesse Einhorn said Microsoft hasn’t restocked the Xbox Series X as often and “due to their relative scarcity, StockX prices have gone up.”
The demand for the new consoles will not be met anytime soon, that remains clear. However, as the holiday season approaches, Sony and Microsoft are certainly feeling the pressure to produce as many consoles as possible. In the meantime, it will be interesting to see how the secondary market reacts. As customers search for consoles ahead of Christmas, will prices go up?
See the original version of this article on BGR.com