Xbox 360 Buyers Resell Product on EBay
Forget day trading — the best way to make a buck this holiday season may be to flip your Xbox 360.
Some people fortunate enough to get their hands on Microsoft Corp.'s new videogame console when it was released Tuesday immediately resold them on eBay, occasionally fetching thousands of dollars for packages that sometimes also included games and other add-ins.
The online auction site said about 1,800 Xbox 360s were sold there between midnight and noon Pacific time Tuesday. Retailers across the country had opened their doors at midnight so gaming enthusiasts — and, apparently, entrepreneurial eBay users — could get their hands on the console immediately after it came out.
Internet retailer Amazon.com Inc. and the Web sites for Circuit City Stores Inc., Best Buy Co. and Wal-Mart Stores Inc. all listed the consoles as being sold out Tuesday. Best Buy spokesman Jay Musolf said the company also sold out of the consoles at most of its brick-and-mortar stores Tuesday.
EBay said the average price for consoles, including those sold with games and other add-ons, was $660. However, the company said some console packages were selling for as much as $2,500, with bidding and sales prices varying widely.
The North American retail price for the consoles is $399.99, while a slimmed-down version without a detachable hard drive and wireless controller sells in stores for $299.99.
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