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I was walking along 57th Avenue in New York late one recent evening, two days before the release of both the Nintendo Wii and the Sony Playstation 3. I saw a huge line of people camped out, and my first thought was, "there isn't a Star Wars movie due soon, is there?" A few moments later I realized it was a line for a Playstation 3.
It's certain that many of those faithful campers would later sell their Playstation 3 on eBay; same with the Wii. According to the Wall Street Journal [subscription required], nearly 15,000 of Sony Corporation (ADR) (NYSE:SNE)'s new game console have been sold, for around $1200 each, on eBay since the release last Friday. (Which is, if you're counting, some $500k straight to eBay, Inc. (NASDAQ:EBAY)'s bottom line) Those who sold, made about a $500-$600 profit. The way I calculate? It's so not worth it.
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