The next generation of consoles released earlier this month to huge success.
Since their release the PS5 and Xbox Series X have been very hard to find in stores, with many buyers resorting to purchasing from resellers.
The PlayStation 5 was released on November 12th in the US, Canada, Mexico, Japan, New Zealand, Australia, and South Korea.
It was released in all other countries on November 19th.
With its release came some great new games to play including,
Spider-Man Miles Morales is a sequel to the fantastic 2018 Marvel's Spider-Man.
And Demon's Souls is a remake of the PS3 title of the same name.
Other great third party titles have been released around the launch including Watch Dogs Legion, Call of Duty Black Ops Cold War, and Assassin's Creed Valhalla.
Cyberpunk 2077 is due for release next month and is one of the most highly anticipated games of 2020, being the first game released by CD Projekt Red since The Witcher 3 in 2015.
Xbox Series X
The Xbox Series X and S were released worldwide on November 10th.
Microsoft's latest console is the most powerful console of all time.
While it didn't have as impressive of a line-up as the PS5, it did get all of the third party titles mentioned above, among a few others.
The system's flagship game, Halo Infinite, was delayed until 2021 after receiving backlash during the reveal.
Due to the high demand for both consoles, scalpers have been very prevalent during the console launches.
They have been snapping up as much stock as they can and often reselling them for double, or even triple, the retail price.
It is quite common to see both consoles listed online for between £850-£1200.
The regular retail price for both consoles is £449.
This has angered many gamers with calls for retailers to regulate sales better and try and prevent scalping from happening.
UK Retailer Scalping Consoles
UK retailer CEX has decided to scalp the consoles themselves.
CEX are a used retailer, relying on customer trade-ins and sales for their stock, which they then resell for a profit.
This business model has seen them become one of the most success retailers in the UK.
The company sells many entertainment and tech items from games, consoles, DVD/Blu Rays, and PC components among other items.
Because they are a second hand retailer, they don't have to follow the RRP of products.
At the time of writing this article, CEX are selling the PlayStation 5 for £815, 81% higher than the RRP.
While the Xbox Series X is being sold for £690, 53% above RRP.
Surprisingly they have the Xbox Series S listed for £250, only £1 higher than the RRP.
CEX don't sell sealed products, so it would be a gamble as to whether these have been purchased new by CEX and then opened, or whether they're trade ins.
On the plus side, current owners can sell their own consoles to CEX too and make a profit.
CEX are offering £650 cash for a PlayStation 5, £200 profit, and £550 for the Xbox Series X, £100 profit.
So owners of both consoles who don't mind parting ways with their consoles until stock becomes more available could make an easy £300 from CEX.
The good news is, more stock is expected to arrive in stores as soon as next month.
So if you can then we would recommend holding off paying the prices the resellers are asking for and just wait.