Sony Wants to Buy Your PS5 Console for $400

Sony is offering $400 to people who are willing to part ways with their PS5 and two controllers.

As spotted by ResetEra user Jay_Horror, PlayStation is sending out notifications to fans who have the PlayStation app on their phones. The notification tells users that they can trade in their console to Sony and have money sent directly to their bank account. This offer is valued up to $400 for anyone who has a standard PS5 and two controllers. Although trade-in programs, particularly around the holiday season, aren't uncommon for retailers like GameStop, it isn't as normal to see platform holders reaching out directly to customers like this.

It may suggest that Sony is preparing for a shortage of hardware or is interested in pre-owned stock that it can sell at a more affordable price than a brand-new unit. PlayStation 5 consoles are currently $600 - $650, depending on whether you get a disc drive. If you want the more premium PS5 Pro console, it will set you back $900. However, due to the demand for the Pro in the lead-up to GTA 6's release, it has been hard to get one at retail price. As a result, resellers and even retailers like GameStop are selling used PS5 Pros for as much as $1,400.

If you're someone who bought a PS5 before prices began to jump and don't use it, this isn't a terrible deal. Given the console initially cost $500, getting $400 back (so long as you also acquired an additional controller at some point) is a solid trade-in value. At this point in the PS4's life cycle, you wouldn't have gotten anywhere near close to $400 back at a retailer like GameStop.