PS5 scalpers say ‘you snooze you lose’ after buying 1,000 Xbox Series X before Christmas

PS5 scalpers have claimed they’ve also scalped 1,000 Xbox Series X before Christmas, telling buyers: “You snooze you lose.” This would ensure that many prospective owners of the new Xbox will be paying premium prices to purchase the console from the group following the next restock.

CrepChiefNotify previously boasted that they had purchased 3,500 PS5 consoles, buying from retailers in order to sell to customers at inflated prices. Now, the group has claimed it is doing the same for the Xbox Series X, taking advantage of an Xbox restock in order to make a private profit.

PS5 and Xbox Series X scalpers claim a $4.8 million profit

xbox series x ps5 scalpers

Both the PS5 and Xbox Series X have been highly targeted by scalpers, who purchase products only to sell them on again for far more than their RRP. Considering the lack of stock for both consoles across multiple retailers, scalpers have been making plenty of profit. The PS5 was selling for more than $2,000 after pre-orders went live, given stock shortages.

“Well then… We’ve done it again!” CrepChiefNotify posted on Instagram. “We just notified our members of a Xbox Series X restock on a very well known online retailer. They have now managed to secure over 1000+ today and there’s still many hours left. You snooze you lose.”

The scalping group boasts of its sellers making “risk-free profits” on its page, claiming it has generated £3.62 million ($4.8 million USD) in profit. According to the group, it had generated over £1 million in profit on the PS5 alone.

PS5 and Xbox Series X restock uncertainties make scalping a problem

While these claims are unverified, scalping has become a major problem for buyers. Worldwide stock shortages of the PS5 and Xbox Series X have caused customers to shop with third-parties, due to PS5 and Xbox Series X selling out in minutes when each restock goes live.

If CrepChiefNotify’s claims are true, then this will be another blow for buyers looking to secure a next-gen console before Christmas. With Sony and Microsoft not revealing when the next PS5 or Xbox Series X restock will go live, it’s unclear when buyers will get another opportunity to purchase either console.