Well, 96 hours for $1200 profit is about $12.5/hr, so it's not great, but it's not minimum wage, either. ;)

That being said, I wouldn't. Yikes, it must be cold out there. Guess I'm just not made of the stuff required to be that hardcore an ebayer, or a console launch sniper! I'll wait until January or so, when they'll be plentiful. ;)

You have to look at this from an opportunity cost standpoint. Those profits (if they E-Baying the console) are going to be eaten away if you think about the work they are giving up to sit there. I am going to pay three girls (fresh out of college without jobs) to stand in line from 6:00AM until I get out of work to snag a few. This way I still make my salary and only pay $150 extra to make a $1200+ profit.

I'm guessing these guys are gamers. They're probably just trying to AVOID having to go to eBay for their PS3. This launch exemplifies capitalism at its finest. I doubt we'll see this kind of "first come, first served" console launch ever again, at least with such low quantities available on launch day. Could the Pope create these kinds of lines if he were hosting a Mass in the Meadowlands? I wonder.

I'm not so optimistic that these guys are in it for their own PS3 love...but maybe I'm just cynical because of this crazy story on Kotaku.

that comment about the Pope creating this kind of line.. no he couldnt.. this is a PS3 the Pope cannot compare

I plan to wait in line overnight (I have a day off of school) and get my hands on a PS3. I will then sell it on ebay. The big question is should I wait a few days to sell it? Or should I sell it immediately? WIll the demand go up after people cannot get their hands on a PS3 or will the demand go down? Will ALL of the go-hard buyers already have spent their $2000.00 or will their be an even greater demand and I may be able to get more than $2000.00? I will not be able to get it until November 17 (morning) and if I do immediately list it, I am afraid the demand will be decent and I will only get $1800 or something like that. WHat do you guys think?

Canuck:

I think that many gamers are hoping to obtain a PS3 at the retail price and are not willing to pay $2000 today to obtain one when they can risk getting one on release date for $600. Many folks will not be able to obtain a PS3 on release date and of course will have no choice but to fork out the big bucks for one on Ebay. I anticipate prices being pushed upwards after launch to the $2,500 ++ range. I wouldn't wait a few days if I were you. I would run a 1 day auction on release day and make some seriously cool cash.

Thanks Carl for the input. I appreciate it very much and will probably follow your advice. Can others give me more advice please? I was just wondering if people remembered when this happened with the xbox 360. Could some people comment on: How many units there were?, how much did they sell for on release date and after? This would be greatly appreciated.

From an economic standpoint, there's one question that needs to be answered. Which will increase by a greater amount after the release: the excess supply on eBay from all the people who are turning around to sell their systems, or the excess demand from all those people who are turned away without a console when all the systems are sold by Friday morning? Also, I assume that some of the less knowledgable consumers may not even realize that a PS3 can currently be pre-purchased on eBay, but will know to check the site after the launch date. I'd put wealthy parents who are doing Xmas shopping into this category.

In my opinion, prices will probably stay about the same as they are pre-release. Supply will probably meet demand, and there won't be much of a rise in price until closer to Christmas, when a bulk of the systems have already been sold, and demand from last-minute shoppers really increases. However, I can't wait that long to sell mine...this is going on the credit card as an investment, so I need to turn around and pay that puppy off with some of my profits :)

From an economic standpoint, there's one question that needs to be answered. Which will increase by a greater amount after the release: the excess supply on eBay from all the people who are turning around to sell their systems, or the excess demand from all those people who are turned away without a console when all the systems are sold by Friday morning? Also, I assume that some of the less knowledgable consumers may not even realize that a PS3 can currently be pre-purchased on eBay, but will know to check the site after the launch date. I'd put wealthy parents who are doing Xmas shopping into this category.

In my opinion, prices will probably stay about the same as they are pre-release. Supply will probably meet demand, and there won't be much of a rise in price until closer to Christmas, when a bulk of the systems have already been sold, and demand from last-minute shoppers really increases. However, I can't wait that long to sell mine...this is going on the credit card as an investment, so I need to turn around and pay that puppy off with some of my profits :)

Thank you twhaynes. I (amazingly) buying by cash. Return is not that much of a problem. So when do you (or anybody) think I should sell if I do sell closer to Christmas? Date please. Thankyou for your advise

Heck, I talked to some people in line this morning and they've already got theirs listed. There's going to be a huge flood of PS3s on eBay on Friday.

They get to go on TV too!

I heard that prices are going to rise next week from $1200 to $3,000 for a PS3 on E-Bay. The market is going to go back up because they are so hard to get.

I GOT ONE SELLIN FOR 4000 RIGHT AS WE SPEAK HAHAHLOL DONT WAIT SELL NOW OR GET STUCK WITH THEM