Best PlayStation 5 Used Price: How Much is my PS5 Worth? (Oct 2022)

You are here:
  • Do you want to sell your PS5 but aren’t sure about the PS5 trade-in value? We’ve got your back! Visit BankMyCell to check the best prices and deals for your PS5.
  • You could get anywhere between $380.00 and $381.00 for a PS5 depending on the condition, model, and storage capacity of the system you’re selling.
  • Learn how much online buyback stores, physical buyback stores, marketplaces, and other trusted partners pay for a PS5 to estimate how much money you can make with your Sony Playstation.
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sell-ps5-standard-edition

Sony Interactive Entertainment’s PlayStation 5 is the latest model in its line of video game consoles. It’s powerfully built with a solid-state drive (SSD) and 4k display resolution (among the other tech upgrades from the older models) for high-speed streaming and immersive gaming. It comes in both a ‘Standard Edition’ for games on Discs and a ‘Digital Edition’ for downloadable games – we break down the value below:

How Much is a Used PS5 Worth?

PS5 Standard Edition Resale Market Prices
MerchantGoodMint
GadgetPickup$323.00$381.00Compare
ItsWorthMore$350.00$380.00Compare
GadgetGone$330.00Compare
* Best market prices updated October 1st 2022

Your used PS5 Standard Edition console will be priced between $323.00 and $381.00 right now, depending on the unit and its current condition. This used buyback price range will fall when a newer unit is released and the retail prices drop, but it appears that tech and gaming fans will have to wait some more.

If you are wondering how much the Sony PS5 is worth, you have found the right place! The Sony PS5 with a disc drive has been in high demand since its release. So, prices vary depending on the store where you plan to list your old console.

Even though the company’s fifth major console has sold millions of units, PS5 restocks are hard to come by both in physical gaming stores and internet resellers. Generally, a used PS5 might sell for around 50-55% of the original retail price. However, due to a scarcity of the PS5 stock in recent months and continued high demand, even used ones are selling for more than the price of a new unit.

How Much is a PS5 Digital Edition Worth?

PS5 Digital Edition Resale Market Prices
MerchantGoodMint
GadgetPickup$268.00$316.00Compare
ItsWorthMore$285.00$310.00Compare
GadgetGone$285.00Compare
* Best market prices updated October 1st 2022

As of now, you can sell it within a $268.00 to $316.00 price range. You can sell your unit for a reasonable price, especially if it is still in good quality with minimal scratches. However, a dead or defective unit is no longer valuable.

Many people enjoy accessing their games and data without having to switch discs. The PS5 Digital Edition is a less expensive disc-less version of the PS5. It was designed for people who don’t want to use disc drives or those who no longer go to stores to purchase physical copies of games.

It gives you the power to easily download games from the comfort of your own home that has an internet connection. This explains why the Sony PS5 Digital Edition is so popular.

Top 4 Places to Sell PlayStation 5 Consoles

Some commonly searched questions on Google include “where is the best place to sell my PS5 console?” or “how much are PS5 consoles worth?” We recommend you first compare all your options to achieve a higher selling price.

We compiled all the information you need to get the most money for your old PS5. These include prices, the current quality of a unit that buyback shops accept, and other things to expect before trading in your device.

(BEST OPTION!) Compare Buyback Offers Online

An online buyback store is one of the choices for selling old PS5 consoles. On the BankMyCell site, you can compare prices from reputable buyback companies with great reviews. Select the best PS5 trade-in offer from a particular store, pack and ship your console, and you will be paid via PayPal, direct deposit, or check.

Conditions that BankMyCell accepts

The resale price of your unit will be primarily dictated by its current quality. A PS5 that still has the original packaging and perfectly functioning will usually get a higher price than an item without its box. Be honest about its condition because if it does not match your description when it arrives, you may lose the sale.

  • Flawless/Mint: The PS5 looks almost brand new with no scratches. It has no software or hardware issues.
  • Used/Good: The PS5 might have some minor surface damage like light scratches. There should be no software or hardware issues.

BankMyCell Buyback Process

BankMyCell uses a three-step process so you can compare resale prices and earn money for your old unit:

  • Get an offer: Receive an instant quote when you click the PS5 option on the search box and specify its condition. Choose the best deals from the list of offers and earn as much money as possible for your used device.
  • Send your PS5: Shipping is always free! The buyback company you’ve selected on the page will pay for the shipping cost so you can send your gaming console for inspection. To make things as simple as possible, they will usually send you a fully paid shipping kit.
  • Receive payment: Expect that you will be paid quickly after the recycler evaluates the quality of your PS5. They pay with a check or via direct or PayPal deposit.

Person-to-Person Marketplaces (e.g., eBay / Facebook / Swappa)

eBay (Auction Website)

With approximately 1.5 billion active listings, eBay is one of the most popular marketplaces. It is a site where you can sell different consoles and games, including Xbox Series X and, of course, your old PS5.

Marketplaces are also a popular option since you have more control over the price you set. You may be able to increase your price a bit, but you must first create an account and link your PayPal account before you can list your PS5 on the website. You will also be charged a significant portion of the sale price as a finders fee. The work required to sell on marketplaces discourages some sellers, opting for buyback sites instead.

  • The PS5 Standard Edition has an average eBay resale price of around 48% more than buyback stores
  • The PS5 Digital Edition  has an average eBay resale price of around 45% more than buyback stores

Swappa (Specialist P2P Marketplace)

Swappa is a marketplace for used technology that believes in cutting out the middleman so that customers can participate in a community market with the best rates. This means that its system allows buyers of consoles such as the PS5 to negotiate directly with sellers.

  • The PS5 Standard Edition has an average eBay resale price of around 25% more than buyback stores
  • The PS5 Digital Edition  has an average eBay resale price of around 37% more than buyback stores

GameStop's Trade-in

GameStop is an incredible place for fast and easy selling of PS5 consoles. However, note that cash buyback deals from GameStop may be significantly less than the other options mentioned above. If you opt for store credit, the value might increase a bit.

Conclusion: The Bottom Line

A good takeaway from this guide is that the prices for the Sony PS5 units are still significantly high due to their demand. Resale prices might even exceed the original retail price. Used PS5 units are currently worth between $268.00 and $381.00, depending on the system and its condition. This is why it’s important to research where to trade in your old PS5 beforehand to get the best deals.

You have a handful of options for where you can trade your PS5, from Swappa to eBay and buyback shops like GameStop. You can set your price and create better deals when you list on eBay but keep in mind the fees and cost of shipping. Swappa also provides a reasonable price range for used PS5 systems and allows a direct seller-to-buyer negotiation. Using GameStop is not advisable because it offers the lowest deals unless you’re looking for an in-store option.

However, trading in an online buyback shop is still the easiest way to sell your console, and comparison websites like BankMyCell enable you to find the best prices in the market.

Best PlayStation 5 Used Price: How Much is my PS5 Worth? (Oct 2022)