Reports that the PS5 supply shortage is expected to continue into 2022 means that the scalper and reseller issues the console faces are only going to continue. Recently, StockX, an auction site centered around selling expensive sneakers, claims it has sold 83,000 PS5 standard consoles at an average sale price of $573, and about 55,000 PS5 digital consoles at an average of $531.These sales are exclusively in the US. The PS5 disc and digital cost $499 and $399 respectively at retail, which means the consoles being moved on StockX are being sold for a profit. Looking at StockX as of the time of this writing, the lowest ask for a disc PS5 is $790 with digital at $718.
StockX expanded its focus from sneakers into electronics with the 2020 scarcity of components that sent them into high demand. You can also find Xbox consoles, graphics cards, and other assorted limited products up for auction on the site. VGC, who first caught wind of StockX’s claims, also notes that eBay had moved more than 30,000 PS5 consoles in the first month alone, and that number is expected to have gone up quite a bit more since.
Sony reported 7.8 million PS5 consoles sold as of the end of Q1 2021. By broad calculations, based on these numbers, it looks like at least 2.5% of the PS5 inventory has been resold at this point, and that’s a low estimate not accounting for unreported auctions and sales or inventory that scalpers still have and is yet unsold. Supply shortages are forcing consumers into situations where they need to pay extra in order to get their hands on the console.
Sony may try to alleviate the PS5 supply shortage with a redesign of the system’s internal components reported to begin production next year. It was said that such a redesign could potentially get around current component shortages that are limiting supply for the PS5. While inventory continues to be scarce, legitimately interested consumers are having trouble getting their hands on the console. Each new resupply tends to sell out quickly and without warning thanks in part to bots and scalper that scoop up the supply in order to generate a profit on the scarcity.
With StockX’s focus on sneakers, you can probably expect to find the new Paul George collaboration with PlayStation up for auction soon as scalpers look to move the limited-edition shoes after they go up for sale this week.
[Source: VGC]
