Let’s All Remember The Time Cash Converters Tried Selling PS5 Consoles For $1500 Or More

Let’s All Remember The Time Cash Converters Tried Selling PS5 Consoles For $1500 Or More
Image: Facebook

Getting a PS5 is hard enough as is, and it’s not made any easier when companies are selling consoles for twice the price.

This piece originally ran on Kotaku Australia on December 16, 2022. It has been retimed as a weekend read.

Cash Converters in Australia are offering a staggering “discount” on PS5 consoles for — wait for it — a staggering $1500. The price tag was spotted online by the founder of Aussie indie site Dash Gamer, who was understandably pissed at a physical store selling PS5’s for twice their RRP.

It wasn’t the worst gouging from Cash Converters, though. On their website you can find listings for even higher, like this PS5 that’s discounted down from $2200:

ps5 cash converters
Image: Cash Converters

There was another PS5, also being sold at the Hampsted Gardens store in South Australia for $1500. This one was discounted from $1899.

ps5 australia
Image: Cash Converters

It leaves a bitter taste in the mouth. Fun fact: I literally got an email from my old primary school teacher today asking if I knew when PS5’s would be available in the country. I’ve been chasing up major retailers for weeks trying to get any idea as to when the many, many people who missed out on a PS5 might actually be able to buy one next year.

Getting a PS5 was a right pain in the arse as is. It’s not helped by companies like Cash Converters advertising a PS5 for $1899, almost triple its RRP, as a “discount”.


  • I am not the least bit surprised that Cashies is pulling this shit and I bet they paid below the RRP for them too, pack of bastards.

  • Wish there was a law meaning any “discounts” had to be compared to the MSRP!

    Rather than “10% off” they’d need to put “100% on!!

    • I presume that you’re joking, because false claims of ‘discounts’ are a clear breach of the trade practices act.

  • Piece of shit company. I worked for a Cash Converters back around 1998 in Brisbane. The manager there (withholding name and location due to legalities of course), used to have two levels of merchandise he’d move through the store. On the books and ‘off the books’. Off the books, meant he’d bypass the shop and sell it under the counter, pocketing the money himself. Primarily happened on jewellery, but it was such a dodgy practice and when something *really* profitable came in, he’d always make sure to take care of it himself. Quite often, those pieces would never make it out onto the floor for the public to see. Nothing surprises me when it comes to this company any more. Nothing at all. It’s a criminal enterprise from top to bottom.

    • Funny the store in question was known for doing this back in the day.

      Midland also recently tried to sell “reproduction nintendo 64 games”.


      Kept swearing that it was legal for them to sell them so long as they declared they were reproduction.

      Despite being explained to that limited run have a license to make reproductions and have that many issues doing it such as being unable to use original artwork or logo’s on them, but nope full chinese reproductions that can be bought for $20 online being sold in store for $100 each is legit according to cc’s midland.

      • Sounds like they have NFI regardless, but it’s also possible that they were just parallel imports of legit versions sold into the Chinese market?

      • Ah to hell with legalities. The store was Cannon Hill, in Brisbane. It closed down around the very early 2000’s. It was at Save City, in the little shopping center. I made some good mates there, but the manager was a scumbag. The selling of goods under the table goes on at nearly every Cash Converters, or did when I was an employee of them, as well as went on in the mid 2000’s to 2010’s when someone related to me was an employee too. It was common practice for managers to apparently buy low with their own money, then to sell off the books. It’s a piece of shit company, run by pieces of shit. The payday loans, my god, they’re nothing short of criminals in that regard too, don’t even get me started on that…

  • So what happens if people can hold out until the shortage is over and they can buy them normally.

    I’m just wondering do the Scalpers and places doing this crap lose out?

    Not that it stops Cash Converters, isn’t this illegal?

    • In this case prob not, Cashies always underpays and over charges for the stuff they buy so they could prob offer them for $750 and still make a profit.

  • It’s worth noting all of these consoles are from the same store, hampstead gardens, it’s a franchise same guy owns the modbury one.

    He’s a notorious hothead and both stores are known for a terrible reputation of gouging on games, banning people who give any feedback on their practices.

      • fun fact it’s been widely reported along a lot of the local groups that a really well known local dirtbag who scams and preys on people who don’t know about games and buys them in using a ton of fake profiles and sells them under the fake “ryan” profile on gumtree and the fake “sam minerva” profile on facebook marketplace groups is apparantly their games manager and it was his idea to pull this off with full backing of the franchise owner.

        A lot of the local gamer groups have posts up about them doing this with animal crossing switches, limited run titles that they’ve had the staff preorder to sell in store as well as selling known counterfeit games such as n64 titles.

        Word has also spread that people are copping store bans for any criticism of the store.

        • as a local I wasn’t aware of any of this stuff you mention and I don’t really use second hand market places etc anyway but still thanks for the heads up – I will suss it out and report the shit out of anything I find to ACCC though

          Need a large number of complaints to have them take it seriously and actually investigate in my experience

  • Not that I think this is okay (very much on the contrary), but I always assumed that Cash Converters based their prices around the going rate on ebay. I’d imagine that would match up pretty close, if so.

    • Neither of which, for the most part, are against the law. Misleading on the “before” price however – that could result in trouble.

  • One positive of scalping and price gouging getting out of hand this year(not just for consoles) is more people and governments may actually take it seriously, rather than the usual response of “iTs jUsT sUpPlY aNd dEmAnD”

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