Here's what people are actually paying for PS5s this Christmas
In social-media speak, and maybe among your real-life friends, it's known as caving -- the practice of buying Sony's hard-to-find PlayStation 5, especially from a third-party seller (aka, scalper) for an above-retail price. He caved, she caved, they caved.
But what's their price? What's the point at which they stop checking for restocks at Walmart, Best Buy, Amazon and GameStop, and start saying, "Enough! Somebody take my money, and give me a PS5 for Christmas -- now!"
The answer may not be as expensive as you think.
First some background: The PS5 lists at $400 for the digital edition, and $500 for the Blu-ray console. And if those are the prices at which you bought, then congratulations -- because the PS5 has basically never not been in short supply. Released in November 2020, the ninth-generation gaming system was hammered out of the gate, stock-wise, by one of the original kinks in the global supply chain: the microchip shortage.
Early in 2020, pandemic-related factory shutdowns and a fire at a manufacturing plant in Japan combined to reduce the number of available chips. When the chip-hungry PS5 came to market later that year, high demand met low supply -- and empty-handed gamers were left to forecast when, and at what price, they'd cave.
With the chip shortage not expected to ease until mid-2022 -- at the earliest -- the 2021 Christmas shopping season, like the one before it, will present PS5 shoppers with mostly bare shelves, and potentially pricey alternatives.
As we've noted here at CBS Essentials, PS5 demand is so high this gift season that some retailers are making the most of their limited stock by giving priority to customers who plunk down extra cash to buy into their membership programs -- à la, Best Buy's Totaltech, Walmart's Walmart+ and GameStop's PowerUp Rewards Pro.
Those who cave in this manner -- buy a membership, skip ahead in line, score a system -- are effectively paying as much as $200 over retail for the privilege of PS5 ownership. (And, yup, Best Buy's Totaltech service costs $200 a year. GameStop's PowerUp Rewards Pro program, in contrast, goes for $15 a year. Walmart+ is $98 a year, or $13 a month -- a subscription you can cancel once you snag a PS5, we'll note.)
Now, paying $700 for a console that lists at $500 doesn't sound great, but it also sounds a lot cheaper than the four-figure price tags you'll see from third-party sellers on eBay and even Walmart.
But here's the thing: While we found no shortage of PS5s being offered for $1,000 on eBay, when we last looked, the average sold price (for the 20 most recently purchased new, boxed Blu-ray consoles) was nowhere near $1,000. It was $786.
The eBay stat tracked with what we found at StockX, another third-party marketplace. On StockX, we found the PS5 Blu-ray console selling for, on average, $761, while the digital edition was going for $759.
There are also people out there who are actually paying retail prices for their PS5s. They are diligently following restock reports -- and maybe even the Twitter feed of Tech Radar Editor-in-Chief Matt Swider. They click, and click, and click -- and, when fortune smiles, they get a PS5.
The bottom line: If you really think you need to pay in the neighborhood of $1,000 for the gaming device that'll complete your Christmas gift list, you really need to rethink things.
Here's our rundown of where and how to check for PS5 restocks (at retail price!) from Walmart, Best Buy, Amazon, GameStop, Target and PlayStation Direct.
PS5 at Walmart
Walmart is selling the PS5 only online. Try tapping the "check stock now" buttons below to try and catch a surprise restock.
Sony PlayStation 5 console (Blu-ray), $500
Sony PlayStation 5 Digital Edition, $400
PS5 at Best Buy
When Best Buy releases a cache of PS5 consoles, as the electronics retailer did Dec. 6, they sell out almost immediately. You can use the button below to check the current stock of PS5s -- you never know when there will be a surprise restock. The store has the Blu-ray console listed for $500 and the PS5 Digital Edition priced at $400. A number of PS5 bundles are available at Best Buy as well (when in stock).
Sony PlayStation 5 console (Blu-ray), $500
Sony PlayStation 5 Digital Edition, $400
PS5 at Amazon
When Amazon restocked the PS5 console on Nov. 27 for Amazon Prime members, it sold out quickly. The best way to catch a PS5 restock on Amazon is to get lucky with the "check stock now" button below.
Sony PlayStation 5 console (Blu-ray), $500
Sony PlayStation 5 Digital Edition, $400
PS5 at GameStop
GameStop has been releasing a limited number of consoles at in-store events, though those consoles are typically part of larger bundles that'll cost as much as $740 to score. (One recent bundle included Ghost of Tsushima Directors Cut and Far Cry 6.)
PS5 at Target
A handful of PS5 consoles were released at Target on Nov. 19 in small batches.
PlayStation Direct
On PlayStation.com, you can register for an opportunity to purchase a PS5 directly from the maker. When a run of consoles becomes available, PlayStation emails the next batch of shoppers in the queue with private links to purchase. The site does not currently offer a timeline for when those links will become available.
