News

Every 13 seconds, someone gets screwed out of a lot of money

Posted by: John at 12/9/2005 6:20 AM
Teraspeak, a tool that analyzes eBay auctions, says that every 13 seconds an Xbox 360 was sold on the site during the first week of the console's release at peak times. An average of 19 bids were placed on the systems breaking down to 586,035 bids being placed on 39,562 systems. The average price the system was sold for was $718. 65% of those auctions were only set for 1 day. The frenzy has died down a bit of course like with any hot item. After the first week, the average number of bids is down to 15 with the average price being $702. No word on the percentage of those selling were employees at a store who bought up all the consoles and screwed the pre-ordered customers.