# Why are PS3s so Expensive Right Now?

- Canonical: https://33rdsquare.com/why-are-ps3s-so-expensive-right-now/
- Published: 2023-09-30
- Author: Nelson Ayers
- Categories: [Business & Worth](https://33rdsquare.com/category/games/worth/)

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Used PlayStation 3 prices exceeding $200 for working, good condition consoles is a surprising outcome given the PS3 original MSRP of $499. However, with production ceased years ago and demand growing among retro gaming fans, limited supply and strong appreciation for the PS3 library are driving up resale values.

## Dwindling Supply of an Iconic Console

Sony ended PlayStation 3 production in 2017 after selling approximately 87 million units. That seems like a healthy supply, but hardcore retro gaming enthusiasts scoop up available inventory quickly. Out of the 87 million units, it‘s estimated 25-30% have failed over time due to age or insufficient maintenance according to the SquareTrade warranty company. This puts the pool of working PS3 consoles potentially as low as 60 million and shrinking as more fail each year. Yet interest in playing PS3 exclusives on original hardware continues increasing. This supply and demand imbalance consistently places upward pressure on resale prices.

## Why Are PS3 Prices Increasing Faster Than Other Retro Consoles?

Nintendo 64 and PlayStation 2 prices have also increased with retro gaming demand, but not nearly as sharply as the PS3. For example, a loose PS2 now sells for around $70 compared to $150 for a loose PS3. This huge PS3 price jump can be attributed to:

- Very limited ability to reproduce or remanufacture new units due to custom components
- Strong reputation for reliability resulting in higher percentage of working units
- Library of critically acclaimed exclusives with limited remasters or ports
- Large online community keeps multiplayer games alive and desirable

### Average Resale Value History

| Year | Loose | Complete | Special Edition |
| --- | --- | --- | --- |
| 2017 | $70 | $130 | $200 |
| 2019 | $90 | $165 | $250 |
| 2021 | $120 | $210 | $320 |
| 2023 | $150 | $260 | $400 |

As this table shows, PS3 prices in all conditions have nearly doubled over the last 5 years. Special editions are commanding even higher premiums.

## Custom Components Prevent Remanufacturing

The PlayStation 3 utilized the Cell processor, co-developed by Sony, Toshiba, and IBM specifically for the console. It was powerful for its time, but also expensive to manufacture. The Cell chip manufacturing process has not been shrunk down or reprinted since the PS3‘s original production. Additionally, the also custom-designed RSX graphics chip has not been reproduced. This essentially prohibits remanufacturing of new PlayStation 3 units. Contrast this with the Wii, which uses mostly off-the-shelf components allowing new consoles to be assembled even today.

## Strong Reputation for Reliability

Sony‘s engineering prowess resulted in very few widespread technical flaws for the PS3. This contrasts sharply with Microsoft‘s Xbox 360, which was infamously plagued by the "Red Ring of Death" defect reaching nearly 25% failure rates. PS3 failure rates have been estimated around 10% according to SquareTrade. And failed PS3s often simply need a good cleaning versus replacement of core components. This has resulted in a higher percentage of working PS3 stock compared to contemporaries like the Xbox 360.

## Supply Drying Up

Anecdotally, you see fewer PlayStation 3 consoles appear for sale on eBay, Facebook Marketplace, and other resale sites versus 1-2 years ago. Out of the estimated 60 million working units, some portion is permanently lost each year to neglect, accidents, or collectors stashing them away. Absent any new production, the usable supply can only decrease. If demand holds steady or grows, basic economics say prices will continue rising as supply shrinks.

## Purchasing and Maintenance Tips

For those looking to purchase a PS3 in 2024, following these tips will help land the best deal:

- Inspect carefully for signs of damage or excessive wear
- Confirm all cables, controllers, and components are original
- Check fan noise levels as loudness can indicate issues
- Test optical drive and ports – Blu-ray failure is common
- Ask seller if internal maintenance like delidding or new thermal paste has been done
- Attempt to confirm total runtime hours to gauge wear level
- Research reliable modding options if interested

Proper maintenance is also key for longevity:

- Periodically open console and dust out interior
- Consider replacing thermal paste after 3-5 years
- Keep the PS3 in an open, ventilated area to prevent overheating
- Upgrade the hard drive to an SSD to reduce heat and extend life

Following best practices in buying and maintenance will help justify investing significant dollars into a PS3 nowadays.

## Prices Likely to Continue Increasing

Given strong appreciation over the past 5 years, is there a ceiling? Comparable niche retro consoles like the Neo Geo AES and TurboGrafx-CD still command $1000+ price tags. As long as demand remains strong, PS3 prices could certainly eclipse $500 for coveted models in pristine condition. However, at a certain point higher prices will exceed what most buyers are willing to pay. And if enthusiasm shifts to newer generations, prices would stabilize and potentially decline. Though for a console as iconic and technically unique as the PlayStation 3, prices will likely keep inching up for years to come.

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Source: [Why are PS3s so Expensive Right Now?](https://33rdsquare.com/why-are-ps3s-so-expensive-right-now/)