PS5 and Xbox Series X|S Sales Have Reportedly Made Scalpers $29 Million on eBay Alone
A report suggests that scalper groups have sold upwards of 60,000 units on the online auction site.
It’s been widely reported that both the PS5 and Xbox Series S|X are incredibly hard to come by. While gamers have been eager to get their hands on Sony and Microsoft’s latest offerings, so have scalpers. One such group, CrepChiefNotify, reportedly secured over 3500 consoles to resell within the first few days of the console’s launches alone.
While it’s clear that scalpers have been a problem, there was no major evidence of just how much damage they had done. That was until a recent report by Dev and Tom’s Hardware, which has looked at eBay in further detail. The report looks at just how many units had been sold on the platform and how much profit they’d made for scalpers.
Unsurprisingly, the most in-demand item was Sony’s PS5. The disc-based console retails for $499, however, on eBay had a median selling price of over $1000. The same goes for the digital console, which retails for $399 yet had a median price on eBay of $937. This means scalpers, on average, are more than doubling their money with the PS5 and that only tells half the story.
In the last month alone, the disc-based system has had over 25,000 units sold on the online auction website and the digital console has had a further 7,300 units sold. This has meant the groups have sold just shy of $35 million worth of PS5’s on the platform, equating to over $19 million in profit.
The Xbox Series S|X also tells a similar tale. The median price for a Series S sat at $469 on eBay, versus the console’s $299 MSRP and the Series X sold for around $865 versus the $499 MSRP. This meant that, with the Series X’s 23,000 units sold and the Series S’ 6,800, that Microsoft’s new consoles made scalpers a further $10 million profit.
While these numbers are already staggering, they don’t take into account any other reselling platforms including Facebook Marketplace, Gumtree and more, which, given there are fewer fees have potentially been just as lucrative.