More Australian Stores Are Selling The PS5 With A $500+ Markup

More Australian Stores Are Selling The PS5 With A $500+ Markup
Image: Sony

PS5 scalping is bad enough, and it’s certainly not helped by Australian retail stores jumping on the bandwagon.

The latest rip-off attempt comes courtesy of a reader, who sent in these images on the proviso that they remain anonymous. The store responsible was CeX in Westfield Garden City in Queensland.

CeX is a chain based out of the United Kingdom. Their stock in trade is usually second hand consumer electronics, repairs and video games. So in a way, they’re not too dissimilar from Cash Converters as far as video games and consoles are concerned.

So it’s natural that there might be some degree of markup. And the Brisbane CeX store certainly isn’t being as heinous as the South Australian Cash Converter stores that were charging a whopping $1500 or $1899.

But still, for an Australia retailer to be charging $1250 — $501 more than the PS5’s $749 RRP — leaves a poor taste in the mouth.

ps5
Image: Supplied

The same price is still listed on the Australian portal for CeX, too. 8 consoles are available in Queensland at the time of writing, all selling for $1250.

ps5 australia
Image: CeX Australia

Sadly, until the global supply chain recovers and stops relying on one global foundry for all of the high-end gear that everyone wants, retailers and scalpers are going to have an absolute field day marking up next-gen consoles. That’s why you’ve got situations like Japan (and Australia), where users can barely buy a PS5. And it’s why this situation is probably going to carry on for at least another six months, if not potentially the whole year.

Also, as pointed out by our anonymous tipster, paying $1250 for a second-hand PS5 — because it’s been removed from the box, as you can see above — is just gross. If you’re marking the console up by almost as much as it’s worth, at least leave it untarnished.

Update 16/02, 3:45PM AEDT: Other users have got in touch with other instances of PS5 scalping. Here’s one shot taken by a reader in Sydney’s Parramatta next to an Xbox Series X — which is also being resold well above RRP, but nowhere near the PS5:

ps5
Image: Supplied

$990 for the Xbox Series X, and $1250 for the PS5. Ouch.

Have you spotted any other instances of outright PS5 or Xbox Series X scalping? Let us know!

Comments

  • Surely there is a consumer law that stops this from happening in legit stores.

    I get shady eBay flippers, but retail stores going the throat should be spanked by Sony and their affiliated retailers.

    • What would you want such a law to say? I’m not sure I’d want to go back to the old days where manufacturers could dictate the price retailers sold their goods for. It’s not clear government regulated prices are better either (think of the old potato marketing boards, for instance).

      Keep in mind that Cex’s freedom to sell PS5s with a large markup is the same freedom that allows other retailers to sell games at below the manufacturer’s RRP. They’re all doing what they believe will maximise their profits.

      Personally I’d be unlikely to shop at a place that takes advantage of stock shortages like this, but presumably they’re willing to take that risk.

  • Was surprised to see one of these CeX stores yesterday in Westfield Miranda, seems like a whole lot of these stores just appeared overnight?

    Those “Verified Order” comments also look really suspicious

    • Theres been one in mount druitt for a few years now. I’ve ordered from them online before, so they are legit. Got some hard to find amiibo and Judgment that way.

  • Totally agree with this being BS, however interesting they are buying them for $850 on that ad, I guess with second hand markets they are playing supply and demand.

    • Yeah, that’s how CeX work. Not saying it’s cool, but when they’re selling second hand stock it’s a bit different to just marking up new ones, even if it seems ridiculous that a used console is more expensive than a new one (should) be, based purely on supply / demand their model is consistent with their choice. I don’t like it, but I don’t entirely blame them either.

      Personally I love CeX because you can wander in and treat it like a blockbuster / video easy kind of thing except you keep the games / movies / TV shows – but if you’re buying hardware you are without exception being absolutely shafted on the price and while they claim to test everything that’s a straight up lie made especially obvious when they’re selling 7 year old CPUs for some reason (still don’t understand who’s buying those or why CeX bother with them) so it’s just as risky as buying on ebay or gumtree imo.

      For software though they’re a great, convenient way to pay less than retail without the hassle of ebay or gumtree.

  • Australia already has anti scalping laws for tickets, why don’t they have anti scalping laws for retail stores? Seems like a no brainer to me that a store is able to markup a product by a maximum percentage as defined by the law.

    • I was wondering what happened to the anti scalping laws and why they weren’t being used. So they’re only for tickets??? Wtf

  • If it was medicine or food I would get it. It’s a games console. Yes the price sucks but it’s hardly an essential item. Charging more for scarce items is basic economics. In fact if they’d advertised it at RRP someone would be complaining about “bait” advertising.

  • I saw a couple for sale for $1315 at my local CeX in Canberra. That was a few weeks ago, though – so it looks like their asking price is actually coming down a bit.

  • It’s a sign that people are better off waiting now that the drift issue is heading off to court. You’ll be paying that inflated price for a console where the controllers don’t even work and getting replacements is difficult.

  • I’m willing to wait till they bring out a black version, or at this rate, the PS5 Pro. Just aren’t any games out right now that justify the gymnastics required to obtain one just yet.

Show more comments

Log in to comment on this story!