ps5 and headline banner for console price guide

Gaming consoles vs. the world

Published Aug 4, 2022 - A user guide to our console prices.

It's no secret

Since the start of the pandemic, the demand for gaming consoles has skyrocketed. Coupled with a shortage of the parts needed to manufacture new consoles, the gaming industry has been playing catch-up for a couple of years.

This has a ripple effect on pricing for new and renewed gaming systems. To be specific: PS5, PS4, Xbox Series S, Xbox Series X, Xbox One S, and Xbox One X have been the most affected ( essentially all of ‘em).

Not only are new consoles from this group more expensive than the “manufacturer’s suggested retail price” (MSRP), prices are climbing for refurbished models, too.

Gaming console pricing on Back Market

On our site, “new” pricing is normally calculated using the manufacturer’s suggested retail price (MSRP).

pricing comparison

For example, this refurbished iPhone 11 is 39% less than the MSRP, aka the price of a new iPhone.

But with the gaming market in flux, pricing based on MSRP doesn’t really make sense anymore, as it’s no longer reflective of the true market price. So we decided to work with sellers in our marketplace to come up with fair and competitive pricing.

For these gaming consoles only (again that’s: PS5, PS4, Xbox Series S, Xbox Series X, Xbox One S, and Xbox One X), the pricing you now see will be based on the actual market price of the item. This is temporary – our goal is to return to using the MSRP benchmark as soon as the gaming industry chills out.

Where’s the cheat code?

There’s no Konami code to unlock the mismatch between supply and demand. If you’re dead set on buying a new PS5 or XBox X at MSRP, you’ll simply have to wait it out — electric component shortages are predicted to continue through 2022.

So, if twiddling your thumbs without a controller in your hands doesn’t appeal to you, find today’s renewed gaming consoles this way.

P.S. If you don’t mind waiting, download our app and set up a price drop alert for any item you want. When the price drops, you’ll get a notification on your phone. Game on.