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PlayStation 3 Brings Big Bucks on eBay

November 17, 2006
Savvy consumers who waited in the long lines for Sony's latest toy are making as much as $15,000 on PlayStation 3 resales on Ebay today.

Burke at his local Wal-Mart

The gaming console, which has flown off of most store shelves, is now flying off to the highest bidder on Ebay. In one case, for $15,100.

That particular auction, which ended around noon was in a hot bidding war around $10,000 and with just seconds to go, someone from the UK put in the final bid of $15,100. The PlayStation 3 is not expected to be released in Europe until March.

As the day has progressed, the thunder of the online sales of the console has paced down to the tune of about $5,000 per unit -- each auction ending in a wild $300-per-bid war.

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Some of the auctions have a "Buy It Now" option that allows users to bypass the auction stage for what usually amounts to a higher purchase. The "Buy It Now" prices range from $10,000 to $100,000.

Vince Burke of Ocean Springs, Miss. has already sold one of the units for $2,750 and is planning to sell a second for $4,000.

Burke said he waited in line for 40 hours with his 15-year-old son outside of his local Wal-Mart. They didn't have a tent and just slept in sleeping bags. When he spoke to ConsumerAffairs.com over the phone it sounded like he had a nasty cold, but he also sounded pretty pleased with his earnings.

He said he thinks it's idiotic that people will spend thousands on a gaming console but is happy to be profiting from it.

"I'm having a hard time thinking about spending $640 for one in the store let alone $15,000 for one online," Burke said.

His son was more than happy to wait in line because the earnings are going towards a car once he is old enough to drive.

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