The Street Price PlayStation 5, Xbox Series X Are Really Selling At, As Per The Verge

PlayStation 5 and the latest Xbox consoles are fetching a premium on resale on eBay Inc EBAY, in excess of double their retail price, according to the Verge columnist Sean Hollister. 

What Happened: Hollister said he averaged the final sales price of a hundred PS5s — which retail for $499 — to arrive at the street price of $1,024 for the disc edition of Sony Corporation’s SNE console.

The digital edition, which retails for $399 has the street price of $990 by the columnist’s arithmetic. 

Microsoft Corporation’s MSFT Xbox Series X with a retail price of $499 is being sold with a hefty price tag of $835 and the Series S unit is on sale for $471 even though it retails for $299.

Nvidia Corporation NVDA and Advanced Micro Devices, Inc AMD- made graphics cards are also in shortage and fetching high resale prices for sellers, as per the Verge.

Why It Matters: Hollister notes that PS5 discs and digital are almost on sale for the same price and that people are making purchases of the consoles for the sake of buying them and not for included freebies. 

The scalping of the units is unlikely to end anytime soon, as per Hollister.

The demand for PS5 and Xbox consoles led to Best Buy Co, Inc's BBY and Walmart Inc WMT websites crashing on the day of their launch. 

Roundhill Investment CEO Will Hershey said on Benzinga’s SPAC Attack Show this month that “PlayStation at least right now appears to be winning" the last console war.

Price Action: Microsoft shares closed mostly unchanged at $214.36 on Friday. On the same day, Sony shares closed 0.61% higher at $94.40 in New York.

Related Link: PlayStation 5, Xbox Supply Crunch Leads To 10% Decline In Digital Games' Sales Over Black Friday Weekend

Posted In: eSportsGaming ConsolesPlayStation 5Xbox Series XEarningsNewsRetail SalesTechMedia

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.