$100 million for a PS3? What a bargain!

by Kyle Orland { Nov 17th 2006 at 9:00AM }

OK, we were willing to believe that PS3 pre-orders were regularly going for over $2,000 on eBay. We even entertained the possibility that selling prices of over $30,000 might actually be legit. But someone willing to pay just short of $100 million for a PS3? That's nearly half the gross domestic product of Tonga!

The sad part is that it's hard to tell from the bid history exactly when the auction went from serious pre-order offer to joke-bidding extravaganza. Our best guess is that by the time eBay user mrsophistication placed the first six-figure bid, all logic and good sense had gone out of the proceedings. We can't help but feel bad for jason_138, who bid Sony's asking price of $600 only to be outbid by tens of millions of dollars. Better luck next time Jason.

Now that the PS3 has gone from pre-order possibility to actual retail product, will we see average auction prices decrease, or will short supplies lead to continued bidding frenzies throughout the holiday season?

[Thanks Justin Roiland]

Tags: 100million, auction, ebay, PS3

Reader Comments (Page 1 of 2)

crono141 @ Nov 17th 2006 9:11AM

I think prices are gonna be high initially, but I think they'll drop until about mid december due to flooding the market.

After everyone has flooded e-bay and there aren't any left (just before Christmas), the few smart people who waited will put theirs up, and net greater profit.

But I don't think 2000+ dollars will be the norm. I think we might get what Japan got, and be able to get PS3's for less money than retail on e-bay.

Willie @ Nov 17th 2006 9:12AM

It is a shame what console launches are coming to. Wouldn't it be nice that the people who actually want to play the console and games actually get them? I wish 360, Wii, and PS3 fans would boycott the people who are selling the systems on Ebay. It would be nice seeing these people have to eat their money to prevent this in the future. Have some patience for the next shipments!!

Finally, I guess most people who waited in lines no nothing about the basic laws of supply and demand. If everyone is selling the systems online you will not get as big as a return on your investment. I hope they all eat their money.

Jason W @ Nov 17th 2006 9:16AM

Now people are getting shot with real bullets for this thing.
http://hosted.ap.org/dynamic/stories/P/PLAYSTATION_SHOOTING?SITE=7219&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2006-11-17-07-41-29

Pete C @ Nov 17th 2006 9:16AM

I think this is hilarious. I hope all the people looking to milk this for every penny get a bunch of bogus bids. Good times.

BlindsideDork @ Nov 17th 2006 9:28AM

Wait...wha? someone actually paid a million for the system?

That is just crazy...

Pig @ Nov 17th 2006 9:29AM

Who would have thought the "toolshed syndrome" started early with people posting thier pictures on ebay with a PS3. I have a feeling it will go something like this:

Guy> Aren't you the guy I saw selling his PS3 on ebay.

Toolshed> That's me! Camped out for days to make a quick buck.

Guy> O'rly?

Toolshed> Ya'rly?

Guy> ::stabs toolshed in the face repeatedly with deer antler::

Franky Digital @ Nov 17th 2006 9:34AM

Ebay Terrorism ftl.

The lesson to learn from this (that, frankly, should have been learned back with the 360 launch) is that unless console manufacturers really want to contribute to the most vivid illustration of capitalism, they really should hold off on launches until they have at least an acceptable amount of consoles in order to prevent the riotings, shootings, and hiring of homless people worldwide.

John @ Nov 17th 2006 9:35AM

i think they agreed a price privately and then bidded 100 mill to make sure no1 else got it!

lol!

Nipon Monkey @ Nov 17th 2006 9:38AM

That's nothing! Check out this super sweet secret version of the PS3! it has 2 disc drives! Bitchin!

http://cgi.ebay.com/Play-Station-3-60GB_W0QQitemZ180050343458QQihZ008QQcategoryZ62054QQrdZ1QQcmdZViewItem

mietha CAG @ Nov 17th 2006 9:41AM

First off, the seller is an idiot. He thinks that the PS3 is the first Blu-Ray player on the market and is unaware that the movies have been available for some time. Hell, Target has had them for a month or so. Secondly, the scary thing is that at least the $4000 bid looks legit. For a system with 1 game worth playing, that is a little absurd. I don't understand how that many people have that much more money than brain-power.

crono141 @ Nov 17th 2006 9:43AM

Thats a really bad Photoshop.

Nipon Monkey @ Nov 17th 2006 9:54AM

I just made a $1,000,000 bid on this tools auction. I wonder if he can really deliver this limited edition PS3? He has no feedback so he can be trusted right?

http://cgi.ebay.com/Play-Station-3-60GB_W0QQitemZ180050343458QQihZ008QQcategoryZ62054QQrdZ1QQcmdZViewItem

also, cant believe a real system just sold for $20k+ WTF? I hope it breaks during shipping. What a mook.

http://cgi.ebay.com/SONY-PLAYSTATION-3-CONSOLE-60GB-PS3-PREMIUM-FREE-S-H_W0QQitemZ230049396649QQihZ013QQcategoryZ62054QQrdZ1QQcmdZViewItem

hollerback @ Nov 17th 2006 9:57AM

It's so obviously a joke. No one will follow through on that bid. It will go to the next lowest bidder or be re-listed.

Jimmy @ Nov 17th 2006 10:16AM

Anyone want to do the math on the final auction value fee? He'll be sure to get that refunded pronto...

Marty @ Nov 17th 2006 10:28AM

People on 2ch are pumping bids up to millions of dollars and then pulling out or trying to make the seller pull out. It's a stunt to try to get back at people buying a PS3 and just turning around and selling it. ( at least that's what's happening on all the Amazon bidding sites )

B @ Nov 17th 2006 10:36AM

It's fake.

FSK405K @ Nov 17th 2006 10:44AM

Woot! I got mine home sitting beside me. Now the question is....do I sell it or play it? It's win-win for me.

As for the price, it can do nothing but increase now that there are real PS3s on the market, and not pre-orders. Why? Look around...the supply has gone up, yes, as there are something like 300,000 that may show up on Craigslist, EBay, etc. BUT, BUT, BUT, the demand is GREATLY INCREASED, as more people are not able to get one at launch. In other words, the high prices before were because a small number of people feared they would not get one. Now a large number of people KNOW they won't get one. Price, through the roof, unless Sony can get some more pre-Xmas shipments into the market.

baby sea tuna @ Nov 17th 2006 10:55AM

"16. It's fake.

Posted at 10:36AM on Nov 17th 2006 by B"

Oh, you think so doctor?

JS @ Nov 17th 2006 10:56AM

I love how people are bidding 10's of millions of dollars on these things, haha. Fantastic, and keep it up!!!!

I just saw one that "closed" with $89,000,100.00 bid!! This is just hilarious!

jon the baptist @ Nov 17th 2006 11:02AM

Waiting in the cold for hours or days for a video game console. What a bunch of morons! Reminds me of the ones that waited for tickets to see the Star Wars movies. They're a bunch of morons too! Get a girl-friend, get a cat, a hobby, ANYTHING.

MyBallz @ Nov 17th 2006 11:10AM

Just got $3300 for one of my three. It's gonna be a good weekend. All scalpers, use a pre-approved bidders list so that griefers can't screw with your auction. I must have had 2 dozen or more requests to be put on the list from people with 0 feedback this morning alone. Auction ended with buy it now. Total time: 2:14:39. SWEET.

Sanchinos @ Nov 17th 2006 11:13AM

Despite the fact that we might not agree with people price gouging these things on ebay, it's not our place to say whether they should or shouldn't be doing this. Ebay is a legal entity. It is completely LEGAL to put your items for bid on Ebay. What is ILLEGAL is to make a false bid - that's called fraud. You see, when you enter a bid you're supposed to be entering into a legally binding contract. I'm not mad at the people selling these things on ebay - I'm mad that people are getting away with making false bids. I hope the get hunted down, arrested, charged with fraud, and brought to justice. (And no, I'm not some bitter ebayer who had someone screw me over. I just believe in the rule of law over other people's pathetic "fair gaming" beliefs. Life isn't fair - get over it.)

Todd @ Nov 17th 2006 11:25AM

No way the winner will pay. Must be a complete joke.

ThisGuy @ Nov 17th 2006 11:34AM

@#22

Agreed, people need to grow up and deal with the fact that life isn't fair and that people will take any advantage they can get. Ahhh the Emo generation. Last year there was a story about a fake 360 bidder who was tracked down by eBay and the buyer who sued the poor parents of this idiot. Result, they became the proud owners of a $10K+ 360 once the Judge got through with issuing damages.

Firegirl @ Nov 17th 2006 11:38AM

If you take a look at eBay, there are tons of these things still going legitimately for $10,000-$25,000 or more. That's just idiotic. Even IF I had the money, I wouldn't waste it on a video game console. Are these people idiots?

Stephanie @ Nov 17th 2006 11:50AM

The winner of this auction psingley85 only has a feedback of 15. If you look at his past purchases he buys used t-shirt, jeans and beads not costing more than $20. Your telling me that a person who has $99,999,999.00 buys t-shirts on ebay for .99. It is probobly some kid in high school who thought it was fun bidding this item up. As for selling these playstations. I feel that people have the right to sell whatever they want on ebay. A friend of mine got one last night after sitting in a tent outside of wal-mart for two nights and he is planning on selling it on ebay. Think about it. Purchase it for $600 and auction it off and get over $4,000. I wish I would have thought about it. If people have $4,000 to spend and don't want to deal with the fight of getting one in the stores that is there business.

bryan @ Nov 17th 2006 11:50AM

It's just video games! What is the point? Go out and make some friends or play the sports video games and what not in real life and get out side or something.

James @ Nov 17th 2006 11:54AM

@ Firegirl (#25):

Actually, yes, they are. But that is because they are most likely hardcore gamers that desperately want to prove they are worth something (no offense to gamers in general.) And I will state this now. Everybody knew this was going to happen. Scott Ramsoomair stated in one of his webcomics (implicitly) that the consoles would be bought up quickly and then resold for enormous amounts of cash. It is the core of American entrepreneurship (or at least the spirit of making money.)

In fact, most of the internet community as a whole knew this. Just look at most gaming oriented indviduals and you will see what I mean. It's some of the stuff people are getting away with that bothers me.

It'll bother me even more if the system suddenly flounders from lack of support.

B @ Nov 17th 2006 12:46PM

The whole ebay fever will last a couple of days. Heck the 20gb versions arent selling like hotcakes. So sell your PS3's now(especially with Craigslist).

Paul H @ Nov 17th 2006 1:01PM

Seriously... the seller's bill from eBay is going to suck... it's going to be a huge seller's fee. Unless he listed it on a "10 cents a listing" day.

rt @ Nov 17th 2006 1:10PM

I was refreshing the screen as the seconds ticked away. I was shocked to see the final bidding price. It's got to be a joke. Who would actually pay that much money for a game console. If this person did it as a joke, he should be penalized somehow. It's not funny.

rt @ Nov 17th 2006 1:13PM

The winning bidder is now showing up as "not a registered ebay user" Now we all know it's fake. There are other's that are listed as not registered when you run the bidding history on the item. So what happens now?

TMS_ @ Nov 17th 2006 1:28PM

But does it come with 2 wireless controllers? Thats the real question.

todd @ Nov 17th 2006 1:31PM

nah the real question is how much dignity do you lose for signing your soul over to ebay bidding 4k on one of these...

Jaime @ Nov 17th 2006 1:46PM

OMG people get LIVES. It's a frickin' gaming system. You can't wait and buy one online? You know you'll be able to soon enough. What a waste of money.

WedgeTalon @ Nov 17th 2006 1:48PM

Sanchinos, ThisGuy - Glad to see SOME people here have sense.

Fraud != funny.

What's with all this whining about ebayers "keeping someone from getting the system who really wants to play it". Isn't the person who's willing to drop 10 grand on the system arguably wanting the system MORE than those who only want to pay 600?

Kenny @ Nov 17th 2006 2:28PM

It's WAY over Nine THOUSAAAAAAAAND!!!

Tirisfal @ Nov 17th 2006 2:31PM

These people that are buying the system for more than 5,000 are just... eh. I bet if you called up Sony and said "Hey Sony, I'll buy one of your newfangled systems for 5k! How about it?", they'd have one shipped to you.

If somebody really did pay 100 million, I bet sony would've gold-plated it for 10.

Andrew Yoon @ Nov 17th 2006 2:34PM

Everything above $80,000 is fake. But, still... 80k for a game console? You could MAKE one for cheaper.

Nmaster @ Nov 17th 2006 2:46PM

It's not fake guys, although the bids were. The guy who did the auction even commented on it:

"I was enjoying watching my auction with friends as it went up to six thousand, the I realized that somebody with nothing better to do than organize fraudulent bids was bidding on my auction. It was a waste of my time and theirs, and it is being investigated by ebay's fraud department. As far as the 100 million goes, it's pretty exciting to have "sold" the most expensive PS3 out there. But why me?"

Sam Keane-Rudoph @ Nov 17th 2006 2:51PM

Just gotta say that I called this story at 1:46 AM CST.

I'm a journalist, that was the important part for me. :)

Stop Bytching @ Nov 17th 2006 3:03PM

1. PS3 on Ebay SOLD for 6300.99 WOOOOOOOTTTT im rich Bytch!!!!!! HONK HONK!!! Theres so many people id like to thank but i dont have the time, thank you sony I hate you and you made me rich.....Im going to Disneyland!!!!!!!

And dont blame me i didnt have "buy it now" I started the bid at 1.00 like i always do and people drove it up, So stop stop whining about people making money when if given the chance you wouldve (or shouldve) done the same thing. My Mom would be so proud That i legally made that much money within 24hours in a honest way

WraithRAnma @ Nov 17th 2006 4:03PM

wow.for 600 u can get a low end gaming computer on the internet and then 80-150 bucks for a highend ASUS ati graphics card. it will blow 360 and ps3 away. or just hand build it and save even more money.

john c @ Nov 17th 2006 4:45PM

LOL! Ah, now the inevitable fake "I just sold my PS3 for a pile of cash on ebay" stories.....

You tards a priceless....

ackmondual @ Nov 17th 2006 5:20PM

the vast majority of buyers are "no longer registered users" and have LOW feedback. No way the winning bidder is forking over all that $$. Ebay staff must have headaches aplenty cleaning these messes. Time to buy stock in headache medicine perhaps?

Let the US healthcare system sell the shortages of PS3 consoles :P

Betty @ Nov 17th 2006 5:25PM

I don't think prices will go down before Christmas because everyone is going to want them so they can have presents for people. Such as parents for their children.

Also, if you're willing to sit outside for days waiting to get a PS3 then you deserve to be able to sell if you want. If you're one of the people who actually plays the games and are upset because you can't just walk in the store then shut up already. If you wanted it that bad you'd be in line too instead of sitting at home thinking everything should be handed it to you. By the way I am not one of the line people, but it's a great idea.

Fatima @ Nov 17th 2006 6:14PM

wtf?!
Please you can NOT be SERIOUS?! lol
this must be like a stupid joke.
WHAT DUMBASS would pay that much just for a stupid game?! why not WAIT???
10 million dollars wow....
Have fun playing and wasting soo much. =]
im just lol w0wwwwwwwwwwwwwwwwwwwwww.... that`sz REALLLYYYYYYYY SAD. I swear to GOD ... i feel bad for the sucker who got duped lol. Tobah.

Robbymo @ Nov 17th 2006 6:55PM

I have my own horror story. Apparently a guy I know pre-ordered 3 ps3s and went to best buy and picked them up. Their were people there who had camped out for a week and were not able to get one. When the guy came out with the three ps3s he got mobbed. People were crying, poeple were screaming and everyone was shouting ridiculous cash figures if he would give them one. Women were sobbing taht they couldn't get one for their "precious" children, what a world we live in. At one point he sold one for $3500 cash right there and as he got into his car a guy rushed him, threw $4000 bucks in his face and grabbed one and ran away crying in delight, what a crazy world. This guy made close to 6 grand because of those idiots. Did any one ever think of the reprecussions of buying a ps3 when it first came out? The glitches? the bad software? The crappy use of the cpu processor? No, people are ignorant and they threw their money away. Good grief.
Robbymo.

mikcultz1234 @ Nov 17th 2006 7:32PM

WOW.....this is prolly some stupid joke, but still, the thought of 10mil for a ps3 is just sad. The news reported of a guy throwin sum1 into a pole, and now the guy has serious brain damage.....wat a bunch of idiots.....and plus, wouldnt u wait for the real- good ps3 to come out, u know, the one without the glithces?