10% of All US XBox 360s Sold on EBay

NASDAQ.com has a press release online from eBay’s President and Chief Executive Meg Whitman, in which Whitman claims that 40,000 XBox 360 videogame consoles have been sold through the popular online auction site.

According to Microsoft, a total of 400,000 units have been brought into the US for sale, which means that one out of every ten systems purchased on launch day were later put up for sale by people looking to double, if not triple, their purchase price.

Business Week on Cyber Monday

If you do a Google search for the term “Cyber Monday”, you’ll come across 947,000 sites currently using the term, which was apparently coined just a little over a week and a half ago to describe a supposed jump in online shopping that would occur on the Monday after Thanksgiving.

Although many websites have started talking about this new “shopping holiday”, Business Week Online has an article up that suggests the term is nothing more than marketting hype created by a November 21st Shop.org press release.

It’s interesting to see how quickly a well-timed and well-created marketing plan can quickly turn into a growing internet meme that outdoes any original expectations.

The XBox 360 eBay Explosion

XBox 360 Auctions on eBay

Today, of course, marked the release of Microsoft’s new XBox 360 videogame console. It also marked another explosive new item for online sales through eBay as thousands of people who stood in line for the $299 and $399 systems are now auctioning the units off for two to three times that amount.

At the store I was at this morning, a non-insignificant number of people were there solely due to the profit-making available anytime there’s a hot new product that combines large amounts of hype with very low amounts of retail availability.

Of course, the phenomenon also has a tendency to feed upon itself, as a good number of gamers who bought the system for themselves see the amounts of money being made through online auctions and decide to forgo their immediate pleasure for some quick cash made by selling their system.

No doubt we’ll continue to see this trend stretch through the holiday season as shoppers continue their push for every last gift option they can find.