Sony has initiated a trade-in program offering some PlayStation 5 owners up to $400 to exchange their consoles. The initiative, which began sending alerts on November 2, aims to increase the availability of PS5 hardware. The offer, shared on the ResetEra forum, suggests a "hassle-free service" through Back Market, with payments directed to a nominated bank account.
To receive the full $400, players must trade in their PS5 console along with two DualSense controllers. This offer comes as the official price for a new PS5 has risen to $600, while used consoles on platforms like eBay are currently fetching around $435. Third-party refurbishment offers rarely approach these resale values.
This aggressive trade-in strategy mirrors efforts by Xbox, which has reportedly been emailing users with offers of up to $375 for trading in their Xbox Series X/S consoles. These moves are seen as a tactic to circumvent dwindling hardware supplies and ensure that more consoles are in the hands of active players. The push for increased console availability is particularly notable in the lead-up to anticipated major game releases, such as Grand Theft Auto 6, where both Sony and Microsoft have incentives to maximize player engagement with their platforms.
For those considering selling a more powerful variant, the PS5 Pro has become exceptionally rare. GameStop is reportedly selling used PS5 Pro units for up to $1,400, highlighting the high demand and scarcity of these consoles. Players looking to offload a PS5 Pro are advised to sell directly rather than through retail channels to maximize their return.