by Joseph Weisenthal

No Merry Christmas For PS3 Speculators

from the too-easy dept

A few days ago, we pointed to a post by Clive Thompson, in which he noted that the value of getting a PS3 before they were available to the public was somewhere in the ballpark of $2,000, as buyers bid up their price to nosebleed heights on eBay. Since then they've cooled off significantly, sliding steadily through Christmas day. This has defied the expectation of speculators, who had bought them up, hoping to sell them for a rich profit to procrastinating parents right before Christmas. As it is, many of those profiteers had to return the boxes to the stores to get a refund. In a sense, it wasn't hard to see this scheme failing. After such a rapid rise, the price had nowhere to go but down. And even though there's a lot of pressure on parents to get a box under the tree on Christmas, apparently many realized that it made sense to hold out a few more days. So, next time a really hot videogame box is released, don't do the obvious thing and buy them up before Christmas. The real money is in figuring out a way to short them, as you would a stock.

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  1. identicon
    Video Game Store Guy, 30 Dec 2006 @ 7:40pm

    Funny story, I work for a video game store once a week. I worked there today and found a back room full of PS3s...Nobody buys the things, they've been there all week! People keep calling and popping in asking for Wiis (and 360s which we have and they buy) and I tell them that we don't have any and offer them the PS3 and nobody bites.

    Also, the PS3 can only do 1080p at 60Hz, so if you bought a TV that can only do 24Hz or 30Hz, the system downgrades the signal to 1080i.

    And the only reason they debunked Metal Gear for 360 was because they aren't allowed to talk about it yet. Kojima said it himself that he would have made it for 360 if there was a dev kit available to him at the time (

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