Sony is reportedly offering an official trade-in program to select PlayStation 5 users. By handing in a standard PS5 and two controllers, users can receive up to $400, which is said to be deposited directly into their bank accounts.
The relevant invitations were discovered by users in the PlayStation mobile app. It is not uncommon for retailers to run console trade-in or recycling promotions before the holidays, but what makes this program different is that Sony is reportedly contacting consumers directly to purchase their old consoles.
It remains unclear what the full scope of the program is, the minimum condition requirements for devices, and the specific valuations for different PS5 models, nor is it confirmed whether it will be open to all accounts. The maximum valuation of $400 also requires users to hand in two controllers along with the console.
Listed prices show that regular PS5s sell for around $600 to $650 depending on whether they include a disc drive, while the PS5 Pro goes for $900. Before the release of GTA 6, some sellers even listed used PS5 Pros for as high as $1,400. For players who originally bought a standard edition for $500 and no longer use their console, this trade-in program could be appealing if they meet the highest valuation conditions, such as including two controllers.
Sony has not yet explained the reasons for launching this program. Restocking second-hand inventory or addressing potential hardware shortages are currently just possibilities, with no official confirmation from the company.