Buying frenzy greets new PlayStation release in Japan

Sony's PlayStation3 has been dogged by delays, knocked back by technical blunders and even, according to some, priced out of …

Sony's PlayStation3 has been dogged by delays, knocked back by technical blunders and even, according to some, priced out of the reach of its target audience.

But for those looking to pick one up online, the bidding on Japan's most popular auction websites yesterday saw consoles changing hands for anything between Y90,000 (€595) and Y150,000 - substantial premiums to the Y50,000-Y60,000 price tags in the stores.

In most cases, the auctions attracted about 100 bidders each - people who, according to the traffic on Japan's biggest internet chatrooms, had tried and failed to buy the machine when it went on sale in Tokyo three days ago.

By most estimates, Japan's entire stock of PS3s had sold out by lunchtime on Saturday

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Workers in Tokyo's financial community, who could not face Saturday's 7am melees at the electronics stores, were particularly close watchers of the auctions. In some reported instances, the bidding for a single PS3 unit and three games had soared above €2,000.

The PS3 appeared equally sought-after on non-Japanese auction sites such as eBay, but the sellers' status could rarely be confirmed.

With US games fans forced to wait another week until the console is launched there, some machines are already thought to be winging their way there courtesy of the online auctions. At least three Japanese lots on eBay touted themselves as having already been converted for US power supplies and televisions.

The online feeding frenzy comes despite an advertising campaign in which, some analysts believe, Sony deliberately allowed customer expectations to wane. Because of the many production problems that emerged late in the day, Sony was able to launch its showcase product with only 80,000 units available in Japan, meaning disappointment was inevitable for tens of thousands of potential buyers.