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Console Resellers Are Making Shocking Profits From PS5 & Xbox Series X

A data engineer has examined the shocking profits that PS5 resellers are making by selling new-gen consoles on marketplaces such as eBay.

The problem of opportunistic sellers who acquire highly sought-after goods to resell for a profit is not a recent issue, as it’s been around for as long as we can remember.

ebay listing of ps5 next to image of ps5
Credit: eBay/Sony

However in this day and age methods of acquiring sought-after goods has become a very lucrative business and methods of obtaining them have reached new levels of sophistication.

A recent issue of profiteering resellers involves the launch of the new generation consoles, the PlayStation 5 and Xbox Series X|S.

Some profiteering resellers have even been gloating on social media with piles of new-gen consoles to sell on at greedy profits.

There are even companies that offer services by the use of automated bots that are not only able to acquire highly sought-after goods in batches at incredible speeds but they can also jump online queues.

So the chances are that you’re perhaps the one of many that hasn’t been able to pick up a PS5 or Xbox Series X|S console and have grown frustrated by seeing resellers sell the consoles for thousands.

This issue has become such a highlighted problem of late that even UK politicians are calling for bans for profiteers selling certain items at insane profits and ban the use of automated bots.

PS5 console with Twitter logo next to it
Credit: Sony/Twitter

But what is the cost of the reselling business? Well it’s worth millions which is why it’s such a widespread problem, as it can generate easy profits for resellers.

Thanks to an article from Tom’s Hardware a data engineer has examined the true cost of profiteers during this new generation of consoles.

The data engineer revealed that for Sony’s new consoles the PS5 digital-only has seen the most inflated resale increase. 

The digital-only console which has a Recommended Retail Price of £359.99 and has sold 255% over its RRP at launch on eBay. However that increase has since jumped to an insane 350% over its RRP!

PS5 and Xbox Series X
Credit: Sony/Microsoft

The PS5 disc version which has an RRP of £449.99 was selling at around 140% over its RRP on eBay at launch but has now increased to 200%.

As of this month, in total it is reported that resellers have made profits of $7 million (numbers are only provided in US $) on the PS5 digital-only console and an incredible $27 million on the disc version.

For the new Microsoft consoles the numbers are not as high as the Sony consoles but they are incredibly profitable nonetheless.

The Xbox Series X which has an RRP of £449.99 has been selling at 150% above its RRP at launch on eBay, but has recently jumped to 170%.

The Xbox Series S which has an RRP OF £249.99 has the same increase to the Series X selling at 150% above its RRP at launch, which has now also jumped to 170%.

In terms of profit numbers, the Xbox Series S has made resellers profits of around $3.5 million, while the Series X has reached over $20 million in profits.

Have you managed to pick up any of the new-gen consoles this Christmas? Let us know across our social media channels.

GameByte PS5 stock is coming image
Credit: GameByte

If you’re looking for a PS5 then the GameByte Shop can help! We’re beating the bots and resellers and making sure consoles end up in the hands of the gamers. Find out more about how to get a PS5 from the GameByte Shop here.

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Featured Image Credit: Sony/Microsoft