November 23, 2005 2:57 PM PST

eBay buzzing with Xbox 360 auctions

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Many who managed to score Microsoft Xbox 360s have been playing a game that has nothing to do with improved graphics or next-gen shooters.

They're wrapped up in the wildly popular sport of eBay. The game's objective: to turn a profit. Just 36 hours after the game consoles went on sale, there are thousands of winners.

A search on the online auction site for "Xbox 360" at around 1 p.m. Wednesday showed nearly 31,000 completed auctions, a total that's growing every minute.

An eBay spokeswoman told Reuters that by midday Wednesday, nearly 7,700 Xbox 360s had sold at an average price of $786.

While it's hard to make comparisons because the game consoles are often packaged with extra games or accessories, it appears sellers are making at least a few hundred dollars off each system.

For example, one page with about 50 Xbox-360 items for auction listed the "premium bundle," which retails for $399. It sold for $700 to $900. The price of the $299 "core" unit ranged from $500 to $715.

The bidding didn't appear quite as fierce at Yahoo's auction site, where there were about 300 closed auctions. Some consoles sold there for below the retail price.

Most of the listing promised immediate, if not free delivery. The common sales pitch was "sold out in stores."

Big retailers, including Best Buy and Target, reported that most stores ran out of Microsoft's next-generation game system following Tuesday's North American debut.

Despite shortages and strong demand from gamers willing to pay top dollar for the latest technology, however, some sellers were apparently asking too much. Many of the 31,000 eBay auctions listed were unsuccessful, possibly because of overpricing.

One Xbox 360 premium console was listed with a starting bid of $1,200 and a "Buy It Now" price of $2,500. That auction expired on Wednesday without attracting an offer.

Reuters contributed to this report.


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Thousands are not X-Box 360's
What about the thousands of auctions for email addresses, and links to advertising sites to "earn" a free X-box 360?

A very large number of the auctions in the Ebay section set up for listing the console itself are fraudulent and are NOT providing the console.
Posted by zaznet (1138 comments )
Reply Link Flag
Most of the crap on eBay is fradulent. It is the wild west on that thing. Not to mention, anyone who would pay the money these morons are paying for a 360 should be sent to a mental institution.
Posted by thenet411 (415 comments )
Link Flag
XBox goes for $12900
One person's went for $12900 last night. <a href"http://
Posted by ryanwhitham (2 comments )
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XBox goes for $12900
One person's went for $12900 last night. <a class="jive-link-external" href="" target="_newWindow"></a>
Posted by ryanwhitham (2 comments )
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Supply and Demand at it's best!
A guy I know bought 5 360's. They're all going for at least twice what he paid for em. $$$ Suckers! ;)
Posted by Bob_Barker (167 comments )
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Remembering Atari Pong
These days I'm remembering the buzz in Xmas 1975 with Atari Pong sold at Sears, people waiting two hours for buying it. But I have a doubt. Anybody remembers the original price of first Atari Pong console?
Posted by JoseMartos (1 comment )
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Bill Gates Xbox Bundle = $25K
<a class="jive-link-external" href=";item=8236921835" target="_newWindow">;item=8236921835</a>

But will Bill Gates deliver it to my house? On the motorcycle?
Posted by amosxmos (6 comments )
Reply Link Flag
Isn't this a viral campaign?
I mean, people stealing consoles, people paying over three times the value of the console... had they _really_ wanted it, they would have preordered with some time.
Posted by ReyBrujo (23 comments )
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Here's a search database for sightings
This could take off if people use it...

<a class="jive-link-external" href="" target="_newWindow"></a>
Posted by Jeff Putz (302 comments )
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Hang in there if you don't got one yet!!! Auctions are losing steam--look at the auction statistics for XBOX 360 on this site:

<a class="jive-link-external" href="" target="_newWindow"></a>

. There has been a slight dip and it looks like it's peaked. Supply and demand is getting better for xbox buyers!!!!
Posted by slick505 (2 comments )
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