First Playstation 5 details / discussion

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513 posts

Ultimate Geek

#2708464 17-May-2021 14:50

I'm just gonna come out and say that I'm one of those "scalpers" michaelmurfy mentioned (and personally PM'd).

I recently lost my missus engagement ring and desperately needed the funds to purchase a replacement, I understand a lot of you would not accept this as justification which is fine.

In saying that, if any of the Geekzone members missed out on the console give me a PM and I am happy to pass on a couple of units (disc version) at RRP (cash pickup in Auckland only, first come first serve).

Paul1977

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#2708476 17-May-2021 15:16

I'm not sure how I feel about scalping them at this point.

First I thought that if some sucker is willing to pay more than RRP instead of just waiting then that's on them, and I still stand by that. But what I didn't really think about is how much it sucks for people who want one and miss out because large amounts are being bought by scalpers. The supply shortage has been going on for a lot longer than I expected it would, and is forecast to continue throughout the rest of 2021. This makes it even worse for those who keep missing out, and it sounds like it could take a long time until everyone who wants one gets one.

Just so there's no confusion, I was lucky enough to get one in February, and to be honest was tempted to get another one or two at the same time to make a little pocket money. I decided not to, but I understand the temptation of such easy money.

zyo

513 posts

Ultimate Geek

#2708479 17-May-2021 15:19

Paul1977:
I'm not sure how I feel about scalping them at this point.

First I thought that if some sucker is willing to pay more than RRP instead of just waiting then that's on them, and I still stand by that. But what I didn't really think about is how much it sucks for people who want one and miss out because large amounts are being bought by scalpers. The supply shortage has been going on for a lot longer than I expected it would, and is forecast to continue throughout the rest of 2021 - so patiently waiting seems like it could take a long time.

Just so there's no confusion, I was lucky enough to get one in February, and to be honest was tempted to get another one or two at the same time to make a little pocket money. I decided not to, but I understand the temptation of such easy money.

Isn't it the same as house flipping? At least gaming isn't essential items as having a roof over your head, and the gain isn't as extravagant as hundreds of thousands of dollars In a short period in of time.

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#2708483 17-May-2021 15:25

zyo: it the same as house flipping? At least gaming isn't essential items as having a roof over your head, and the gain isn't as extravagant as hundreds of thousands of dollars In a short period in of time.

Not so much, as a house is almost always - over a long enough timeline - an appreciating asset.

Consumer electronics are not

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#2708484 17-May-2021 15:28

zyo:
I'm just gonna come out and say that I'm one of those "scalpers" michaelmurfy mentioned (and personally PM'd).

I recently lost my missus engagement ring and desperately needed the funds to purchase a replacement, I understand a lot of you would not accept this as justification which is fine.

Fair play for having the guts to front up!

Yeah, I sympathise with your situation but it doesn’t change my view on scalping. You are playing a pretty sh*tty game to make up for your own personal mistake IMHO.

Paul1977

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#2708487 17-May-2021 15:35

zyo:

Isn't it the same as house flipping? At least gaming isn't essential items as having a roof over your head, and the gain isn't as extravagant as hundreds of thousands of dollars In a short period in of time.

I suppose you could make an argument for that. But, reading the room, I don't think you'll change many opinions here with that analogy!

I'm actually on the fence about it, I was really just commenting that my opinion has shifted from thinking it was fine to now not being so sure after seeing how disappointing it is for those who keep missing out.

michaelmurfy

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#2708497 17-May-2021 16:07

zyo:

I'm just gonna come out and say that I'm one of those "scalpers" michaelmurfy mentioned (and personally PM'd).

Seriously, well done on fronting up on it. Like I say, I wasn't going to but it wouldn't take long before somebody found a link between some Trademe usernames to usernames they see often on Geekzone. Also thanks for offering up a few consoles at RRP.

zyo:

Isn't it the same as house flipping? At least gaming isn't essential items as having a roof over your head, and the gain isn't as extravagant as hundreds of thousands of dollars In a short period in of time.

Different analogy IMO. House flipping often involves work to improve a house to flip it, I personally know somebody who has flipped a few houses and the amount of money spent and time spent (she was doing long hours herself) to get to the point you can sell a house at more than you paid in total. It does involve quite a lot of work depending on how you do it and often people are willing to pay as for first home owners this means less up-front work and can be popped straight onto the mortgage.

In the console (and even GPU) flipping case - you're opening up two supply chains. You've got retail stores who have to sell at RRP as per their license agreement with Sony then you've got others who buy it and add markup which then adds more demand to retail store supply chains. Given there is already a silicon shortage this means that many customers wanting one that keep missing out. I personally wanted one at release but missed out and kept missing out because I was online at the wrong times, working long hours, in meetings etc and it bought me down seeing a whole lot of consoles pop up on Trademe at $400-$700 more than RRP.

My colleague was another one - wanted one for his kids, really nice guy and saved up for a console at RRP. He has been wanting to buy one since release but kept missing out. Again, he was discouraged because he kept seeing them pop up on Trademe thinking he'd never get one. I ended up getting one for him at RRP thanks to a very kind person on Geekzone.

In the current crappy state of the world with COVID and all that we need our outlets. I get people are "willing" to spend way more than RRP to get a console but there shouldn't be any need for this in the first place. I also understand that because of COVID more of this is occurring because people need money. It is a crappy situation all around but we've all got to be kind and not add to already existing problems.

Michael Murphy | https://murfy.nz
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eracode

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#2708509 17-May-2021 16:29

Interesting possible little tax wrinkle here. If you buy something with the intention of selling it and make a profit, the profit is taxable as income. If people have bought multiple PS5s and scalped them, their profit could easily be $000's. Bit hard to claim you bought them for all personal use.

Not sure how IR would find out - but, hang on - hmmm.

Sometimes I just sit and think. Other times I just sit.

zyo

513 posts

Ultimate Geek

#2708519 17-May-2021 16:35

eracode:
Interesting possible little tax wrinkle here. If you buy something with the intention of selling it and make a profit, the profit is taxable as income. If people have bought multiple PS5s and scalped them, their profit could easily be $000's. Bit hard to claim you bought them for personal use.

Not sure how IR would find out - but, hang on - hmmm.

Then one should be allowed to claim losses on all goods sold at a loss?

eracode

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#2708520 17-May-2021 16:37

zyo:
eracode:

Interesting possible little tax wrinkle here. If you buy something with the intention of selling it and make a profit, the profit is taxable as income. If people have bought multiple PS5s and scalped them, their profit could easily be $000's. Bit hard to claim you bought them for personal use.

Not sure how IR would find out - but, hang on - hmmm.

Then one should be allowed to claim losses on all goods sold at a loss?

Yes, in principle you can - if you bought them with the intention of re-sale.

Sometimes I just sit and think. Other times I just sit.

zyo

513 posts

Ultimate Geek

#2708521 17-May-2021 16:40

Yes, in principle you can - if you bought them with the intention of re-sale.

But I buy all my TVs with the intention of selling them couple of years later :)

eracode

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#2708526 17-May-2021 16:48

eracode:

Interesting possible little tax wrinkle here. If you buy something with the intention of selling it and make a profit, the profit is taxable as income. If people have bought multiple PS5s and scalped them, their profit could easily be $000's. Bit hard to claim you bought them for all personal use.

Not sure how IR would find out - but, hang on - hmmm.

I wouldn't be surprised if IR are already onto this. I believe that they do work with Trademe - as do the Police re stolen property. And I'm sure there must be some IR staffers who belong to GZ and would read all this.

Sometimes I just sit and think. Other times I just sit.

Loismustdye

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#2708542 17-May-2021 17:48

With regards to scalping and GPUs, Icould wrong but Isnt there a few retailers adding an extra $1000 or so onto the price of the 30xx series cards? How retail of $999 US becomes $3k nz+ is beyond me.

as for the consoles, I’ve missed out so far, but I’m not gonna jump up and down about others selling them for a profit. It’s not a compulsory purchase for life or to enable life (like the oxygen shortages around the world) so I’m willing to wait. I get that it’s a bit stink for some who really want one but is it worth the stress (some of the trademe questions I’ve seen are just appalling).

Handle9

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#2708545 17-May-2021 17:59

Loismustdye:
With regards to scalping and GPUs, Icould wrong but Isnt there a few retailers adding an extra $1000 or so onto the price of the 30xx series cards? How retail of $999 US becomes $3k nz+ is beyond me.

Nope. The whole supply chain has inflated pricing due to greater demand than supply.

Torque

379 posts

Ultimate Geek

#2708552 17-May-2021 18:44

Super keen on one when I get back to NZ from deployment - at the moment I'm trying to see if I can snag one through BestBuy / Walmart / Amazon and get it shipped to my APO.

If that doesn't work I may hit up this thread for some assistance. Haven't owned a PlayStation since PSX!

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