PS5 Price Increase Sparks Buying and Selling Surge

It’s starting to feel a lot like 2020 again: the PlayStation 5 is flying off the shelves, and the atmosphere is thick with urgency. Recently, it was announced that the entire PlayStation lineup will see a price hike starting April 2. With the PS5 already a hefty investment, the prospect of an additional $100 or more has pushed many gamers to buy, upgrade, or trade in their consoles before it’s too late.

Depending on your location, the PS5 Pro might be completely sold out or on the verge of being so. “Just panic bought my PS5 Pro,” one Reddit user shared, echoing the sentiments of many others in the thread. The general vibe is clear: if you were considering a PS5, now is the moment to act. As more gamers confirm their purchases before the price increase, others are feeling the sting of FOMO.

One major factor driving this rush is a promotion at a popular retailer that offers extra trade-in value for used hardware. They’ve already adjusted their pricing for pre-owned PS5 Pros, meaning anyone looking to save by opting for a used console will still face a premium. Ironically, a used PS5 Pro at this retailer is currently priced higher than a brand-new unit.

At the same time, numerous gamers are reporting difficulty finding a PS5 Pro nearby. While major retailers aren’t completely out of stock, availability has significantly dwindled at places like Target and the aforementioned retailer. If a store does have the console, it’s often just one or two units. Anyone hoping to snag a new PS5 Pro may need to embark on a bit of a quest.

“Desperately trying to trade in my PS5 to get the PS5 Pro for the promo, but everything within 100 miles is sold out,” one gamer lamented on Reddit. In the comments, employees from the retailer mentioned that some locations ran out of stock within hours of the price announcement.

This scarcity has left some gamers in a tough spot. One player was eager to trade in their old base model PS5 for an upgrade, only to find that, despite having trade-in credit, there were no new consoles available. Now, this gamer is without a PS5 and may have to pay the inflated price for a replacement.

Meanwhile, the PS5 Pro has surged up Amazon’s bestseller list, seemingly outpacing the base model. While the Pro isn’t a massive leap over the standard version, many gamers figure that if they’re already spending hundreds, they might as well go for the best option available. Given the current situation, it seems that Facebook Marketplace might be the best bet for finding a PS5 Pro.

With just a few days left before the price increase kicks in, it’s likely that the situation will only worsen for those who haven’t secured a PS5 Pro yet. Who would have thought that those who shelled out $1,000 at launch would end up having the last laugh?

Gamers with a Nintendo Switch 2, Xbox Series X, or PlayStation 5 will likely feel the squeeze from gaming companies as they try to navigate the ongoing memory shortage.