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Why are Broken Playstation 2 Consoles worth so much money?

Discussion in 'BlackHat Lounge' started by scallen37, Jun 30, 2013.

  1. scallen37

    scallen37 Junior Member

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    Here's the dealio, I have a couple agreements with about 10 local pawnshops that if someone walks into their store looking to sell their old Playstation 2 console to offer them 15 for the console, even if its broken, and I'll come by every month and buy each one for $25.00 - I also run a couple ads on CL and the newspapers, even on Facebook that I buy broken PS2's and working ones.

    I make about a $25 profit on eBay and when I list one for sale on eBay they will literally sell for $55.00 in 20 minutes. I noticed it was 2 or 3 people generally buying all of these, 2 in CA and 1 in NY (See: http://feedback.ebay.com/ws/eBayISA...anton1181&ftab=AllFeedback&rt=nc&myworld=true ) and they are buying hundreds or even a thousand of these a month. Eventually I contacted this person and said I usually have about 30 consoles a month and asked if he just wants to buy them from me through PayPal so I could bypass eBay fee's and he does without any hesitation, and I did that for about 4 months. Further information on one of the people is that they make a Really nice living doing whatever it is that they do. I've been grinding on it for about 2 months now and I've got exactly 100 playstation 2 consoles.

    He of course, won't say what he does with them - and I don't blame him, but I really want to see if I could get a larger cut on these consoles.

    Here are some theories:

    - They are being sent to Mexico, Japan, China, etc preloaded with games put on a hard drive with a soft mod.
    - They are being used as small computers and gaming consoles installed in cars.
    - Connect a network adapter and being sold in 3rd world countries as small computers used for hacking. (no idea.)
    - People in Asia are big fans of the PS2 and they prefer the NA version of the system and they are rare so they pay good money for them.
    - Some part in it is being purchased by some manufacturer who is using them in something they manufacture.


    So, if you have any idea WHY they are valued and where, please let me know if have any more information on this because I can't seem to find a specific answer.
     
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  2. ShadeDream

    ShadeDream Elite Member

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    Dude you answered your own question. eBay.

    On the other hand, it's PlaySation, what do you expect? A quality PS1 will sell for $15.
     
    Last edited: Jun 30, 2013
  3. scallen37

    scallen37 Junior Member

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    No, I'm asking what is being done with them? On eBay you can sell a broken PS2 for more than you can sell a working PS2 for. If people are buying 2000 broken PS2 consoles a month, then they are making a profit from them somehow. I'm trying to figure out what is being done with them so I can do the same and make more money.
     
  4. ShadeDream

    ShadeDream Elite Member

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    Sorry I misread your post. I'm not sure to be honest, the first thing that came to my mind was, maybe he's a rich PlayStation fan that wants to buy out all of the consoles around so they become more valuable? But I kind of doubt that.
     
  5. andre09

    andre09 Junior Member

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    I agree, this is fascinating. I can understand your hacking theories, given those old nokia phones in demand. Have you ever just asked him directly? Or does he just give you a run-around?
     
  6. scallen37

    scallen37 Junior Member

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    Gives me the run around, just says "Its my business." - another said "He finds new homes for them." - it's a pretty big secret I guess.
     
  7. akacash

    akacash Jr. VIP Jr. VIP

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    If I had to guess I would say that whoever they are they're probably fairly familiar with the hardware and how to fix them. Assuming they know what they're doing imagine if you could fix your broken PS2 for like $3 because you know how to do that yourself. So maybe they're caught onto a pattern and noticed that most of the PS2's that are breaking are breaking for the same reason and it's a cheap and easy fix. So if they were to buy yours for $25 or w/e they could fix it for another $5 and have it working now. From there, you've already named most of the theories I'd go to. Either putting the mod on there that allows you to play burned games, pre-loading it with games, or maybe even just selling it with a bunch of games already burned on disc as a bundle. If it's still popular in Asia then they've got plenty of customers. The reason that there's not a bunch more people doing it in that case would be that it would take certain resources and a little know-how to get your name out there or whatever. One other theory would be similar to the same one as far as being able to fix them very efficiently and then taking them to flea markets or swap meets maybe. I am kind of curious myself as to where or why these would be in such demand though.
     
  8. Asif WILSON Khan

    Asif WILSON Khan Executive VIP Premium Member

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  9. proxygo

    proxygo Jr. VIP Jr. VIP Premium Member

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    i have a ps1 - ps2 - ps3
    my ps1 is original from from new in the 90s still works
    and is chipped to play copied games.

    if u wanna make money buy these games from car boot
    sales for 1/2 pounds 2-3$ and they all have a re sale value
    of 20-50 pounds each - up to 80$ for ps1 - i do

     
  10. scallen37

    scallen37 Junior Member

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    So is it possible that people are building supercomputers to mine for bitcoins? A lot of those articles are putting a $200 price tag on a PS2, and say they are building computer for $50000 which means that they are using 250 PS2's to do this. By the current market if you can get a PS2 for $50, then they can build a supercomputer for $12,500 - but last I checked a couple years ago you couldn't use PS2's to mine for bitcoints but 250 of them combined to mine for bitcoins is beyond my understanding.

    Also, one of those articles is from 2003.
     
  11. Asif WILSON Khan

    Asif WILSON Khan Executive VIP Premium Member

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    They are using PS3's now http://en.wikipedia.org/wiki/PlayStation_3_cluster
     
  12. Roparadise

    Roparadise BANNED BANNED

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    It would be complety fucking stupid to spend $12,500 on 250 PS2's to only get a combined 1.5Teraflops to build a "supercomputer". You could get a 4x GTX Titan setup for less than $10,000.

    It will also be using 20kilowatts/hour compared to around 2.7Kilowatts/hour the pc build would cost, and if you were running it 24/7 365 it would cost at least $12,000 more a year in energy costs.
     
    Last edited: Jun 30, 2013
  13. scallen37

    scallen37 Junior Member

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    It wasn't a theory I was taking seriously.

    So far everything I've found online points to these being modded and sold overseas. However, being that I am in China 10 months out of the year I've never seen anyone sell a Playstation 2 or a modded one. People say they are sold in countries like Mexico and countries in Africa, but I've searched all day and can't find anybody selling a modded PS2 in Mexico, lol.
     
  14. onlinebizph

    onlinebizph Newbie

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    because they can fix/convert it for a cheap supercomputer
     
  15. Roparadise

    Roparadise BANNED BANNED

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    The PS2 doesn't have enough power to build a cheap "mini" supercomputer. It also uses alot of watt per gigaflops.
     
  16. BadyBoySEO

    BadyBoySEO Regular Member

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  17. Roparadise

    Roparadise BANNED BANNED

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    That was from 10 years ago, no way a PS2 cluster could mine coins at a profit.
     
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  18. scallen37

    scallen37 Junior Member

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    Okay, so I finally found out whats being done to earn some money.

    There is a company in Japan that is buying large amounts of these and modding them, loading them with games (even from past consoles) onto the hard drive and reselling them as a different product. I was told it was between $180 and $220 USD with new controllers, new lasers, and a new case.

    HOWEVER, I can't seem to contact the company that is doing this (probably for a reason) to see if they want to buy in bulk from me.
     
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  19. VintageAude

    VintageAude BANNED BANNED

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    Nice find man. I did some research and some forums were saying it was Mexico (possibly even the cartels) buying them. They're probably being exported to a few places.
     
  20. Pvlman

    Pvlman Regular Member

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    Not sure whether the EmotionEngine inside PS2 is a worthy GPU, but my guess would too be BitCoins.