If you thought the new year would bring you some good news when trying to buy an Xbox Series X, we have some bad news for you.
It’s still incredibly hard trying to secure an Xbox Series X or a PS5, which will likely not change anytime soon. Speaking with the New York Times, Microsoft’s head of investor relations, Mike Spencer, revealed that the next-gen console supply will still be very limited at least through June.
This news isn’t that surprising because Microsoft warned of an Xbox Series X shortage back in November, stating that we would continue to see shortages heading into “Microsoft’s Q3, calendar Q1,” claiming the company should have more consoles April through June. Spencer’s news means that customers should expect the grind to buy an Xbox Series X to continue even longer.
If you have been one of the many people trying to buy either a PS5, Xbox Series X, or even the latest AMD and Nvidia GPUs, you know just how frustrating trying to find either one of those items at retail price is. The shortages could be attributed to the lack of hardware and the need to “increase capacity levels,” as AMD CEO Lisa Su said during an earnings call. But if you ask anyone, scalping is the main culprit for keeping PS5 and Xbox Series X consoles out of the hands of gamers.
Earlier this month, a scalper who goes by the handle Carnage on Twitter boasted about securing 2,000 pre-orders through U.K. retailer GAME. IGN reports that 10-15% of all PS5s sold in the U.S. alone were resold and that scalpers made an estimated $43.2 million profit from those resold consoles.
Data engineer Michael Driscoll was left with a figure of 157,000 PS5s sold at retail price or higher on eBay and StockX – 7.06% of the 2.067 million PS5s VGChartz estimates were sold in the US up until January 16. Driscoll then looked into active listings on services such as OfferUp, Facebook Marketplace, and Craigslist, coming to the conclusion that a likely 10-15% of PS5s have been resold in the US.
Driscoll’s report makes for very interesting reading beyond the headline figures. On eBay and StockX, the most recent estimated average price for a digital edition PS5 is $799 (twice its recommended price), while a disc edition is $849 (1.7 times recommend price). Driscoll estimates that scalpers have made $43.2 million in profit during that time, with eBay, PayPal, and StockX making a combined $15.9 million as a result of the resales.
We at Hip-Hop Wired know the thirst is beyond real when trying to cop either a PS5 or Xbox Series X. We have shared these cheat codes hoping they will help accomplish that mission. We urge you not to give up and help fight the scalping by not buying either of those consoles over their retail prices.
Photo: Bernard Smalls / @PhotosByBeanz83