Holiday console shopping raises eBay profits

Posted Jan 28, 2007 at 4:01PM EST by QJ Staff

Listed in: Wii, PS3 Tags: eBay, Lik-Sang, Sony

eBay climbs the profit mountain - Image 1

Sorry if this is a few days late, but now is better than never. Officials of eBay announced a 24% increase in profits in the fourth quarter of their financial year. They believe it is due, in part, to the high holiday season demand for consoles such as the PS3 and the Wii.

Profits jumped to US$ 350 million in the fourth quarter that ended December 31, 2006, while revenues rose by 29% to top off at US$ 1.72 billion, much thanks to the console launches and improved business in international markets. Compared to the previous quarter, the total value of goods and services sold on eBay increased by 20%, totalling to US$ 14.4 billion.

Because some customers could not find consoles anywhere near them, they decided to hunt for offers from eBay in order to own a console early. The highest in demand were the PS3 and the Wii. Although pricey at an average price of US$1,187, it seems that 14,675 Playstation 3s were sold. Even the Wii was available at an average tag of US$413, with 26,708 units of Wii sold from November 19 to November 24.

This sudden influx of meeting demand wasn't all that forthcoming. It seems that the Playstation 3 suffered from this greatly (in contrast the Wii probably benefitted from it), as westerners bought Japanese sold PS3s direct from eBay, slowing the sales of the PS3 to a grind of a 1:1 sales ratio. It's starting to make sense, isn't it?

Sony is now moving against the import of Playstation 3s which led to the closure of Lik-Sang.com, and it looks like those eBay sellers who aim to sell their consoles before their release in certain regions will not be spared. Still, as long as stocks continue to starve demand, eBay will continue to be the unofficial source of consoles for many.

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Holiday console shopping raises eBay profits

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