Sony offers $400 for used PS5 consoles, as GTA 6 buyers crave lower-priced systems

Recently, through Best Buy, Microsoft encouraged gamers to trade in their neglected Xbox Series X and S systems. Now, Sony is following suit, offering up to $400 for used PS5 consoles. While PlayStation hasn’t explained the strategy, the refurbished market could benefit. Several price increases have made new units more expensive, even as GTA 6 may boost sales.

A fair trade?

Several social media and forum posts shared the promotion sent to customers. The $400 estimate is for a “PS5 Standard console with two or more controllers in Grade 0 condition.” How much individuals receive depends on whether the model includes a disc drive, its condition, and any other bundled accessories.

Back Market operates the trade-in program after Sony announced a partnership with the company in 2024. Previously, however, PlayStation concentrated on the PS4 generation with vouchers to upgrade to the latest hardware.

At first, the opportunity may seem enticing to gamers who own used PS5 consoles collecting dust. That said, the two-controller requirement sours the deal somewhat. On eBay, a non-digital model and one DualSense in decent condition sell for $450-500. Even so, once deducting fees and shipping, the total isn't much higher than $400.

Retailers like GameStop and Best Buy offer less for second-hand units. GameStop is only willing to issue up to $275 in store credit for some models. After the last round of PS5 price increases, the Digital Edition costs $599.99 brand new, while the disc alternative is $649.99.

Unlike the Xbox Series X, Sony’s base models remain relatively well stocked. The PS5 Pro has suffered the most from component shortages, often selling at auction for hundreds more than its $899.99 MSRP.

The GTA 6 effect

Despite the economic challenges, the November 19th GTA 6 release date was expected to boost hardware revenue. So far, analysts like Circana’s Mat Piscatella haven’t seen evidence of the prediction materializing. Rockstar has a large install base to target, as shown by a blistering pre-order pace. Nevertheless, it may lose potential buyers who don't possess an Xbox or PlayStation.

Sony has admitted that, rather than focusing on new hardware sales, it hopes to capitalize on existing users. Still, lower-priced PS5 consoles could entice additional customers to join its ecosystem and subscribe to PS Plus.