Microsoft’s Xbox 360 is going for the gold on eBay. According to eBay president and CEO, Meg Whitman, 40,000 Xbox 360 consoles have sold through the online auction site. That’s 10% of the total number of units estimated to have sold in the U.S. since the product was released.
The numbers may overlap, for example, the units listed on eBay may be new sale or resales; however, whichever they are, the average auction and buy-it-now price listed at eBay is well over the retail price of $299 ($399 for the premium model).
Microsoft has hit a marketing home run with the limited release of product. Resellers are generally out of stock of the popular gaming console, and eBayers are taking advantage of the buying frenzy to jack up the price that they are asking through the online auction.
The empty retail channel and the frenetic consumer channel are combining to ensure that the follow-on shipments to retailers will be welcomed by a full queue of consumers with cash in hand.