Xbox 360 Shortage Sparks eBay Frenzy

This holiday season, parents and gamers in the UK are bracing themselves for the new Xbox 360, but its limited availability has sparked a frantic bidding war on eBay. Despite Microsoft's promise to supply up to three million consoles worldwide in the next three months, almost all of Britain's initial stock has been pre-ordered, leaving many without a chance to get their hands on the highly anticipated system. Online auction house eBay is awash with listings, with some bidders willing to part with as much as double the retail price.

Key Takeaways:

• The Xbox 360, which goes on sale in the UK on Friday, has seen almost all of Britain's initial stock pre-ordered, leaving many without a console.
• eBa y listings have attracted bids of up to £420 for the console alone and £550 for the package that includes games and accessories.
• Over 10,000 people in the UK make a living trading on eBay, with some sellers reportedly ordering prior to release to make a quick profit online.
• UK-based retailers Woolworths and HMV have already sold out of their initial stock, while retail chain Gamestation is advising even pre-orders may not be filled until after Christmas.
• XBOX360 Director Neil Thompson has assured consumers that Microsoft is working to ensure regular replenishment of stock.
• The eBay frenzy follows a similar trend where H&M's Stella McCartney fashion items were sold at three times their retail price.

Statistics:

• Up to £420 was bid for a single Xbox 360 console on eBay.
• A package of Xbox 360, games, and accessories was bid at around £550 on eBay.
• Over 10,000 people in the UK make a living trading on eBay.
• 100,000 Xboxes are set to go on sale across Europe on Friday.
• More than 5,000 Xbox 360 consoles were sold on eBay in the US within 24 hours of going on sale.
• Microsoft expects to supply up to 3 million Xbox 360 consoles worldwide within the next three months.

Sources:

• "Xbox 360 sale sparks eBay frenzy," Amar Singh, Amar Singh.