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Planck's Constant - Long Wait for PS3s already started, Excerpt: Here's the scene outside a Best Buy in SOHO, lower Manhattan early this afternoon. There are 29 squatters already hunkering down for the long wait for PS3s which won't be available for another 36 hours.

Planck's Constant - Ebay's fault that Paypal is bombed, Excerpt: First eBay cancelled all the PS3 auctions because of fears that fraudsters would be selling pre-orders and be unable to actually deliver the item within their 30 day rule. Then they relented and allowed the auction provided the seller had at least 50 sales, a rating of at least 98%, could deliver within 30 days of end of auction and used Paypal as the payment method.

Planck's Constant - Sony Playstation 3 US Launch Day - Over $3,000 on Ebay, Excerpt: Last night I waited in line in the soaking rain with about 800 other hopefuls in Union Square at Circuit City Store 3679 in New York City for one chance to win a Playstation 3 out of 100 up for grabs. The first 100 in line were guaranteed to receive a voucher to buy the unit at midnight for $600, the other 800 in line, including me, filled out forms to possibly win a PS3. There would be 100 winners including a couple (a young man and woman) behind me where miraculously both won!

Aplia Econ - PlayStation 3 and Arbitrage, Excerpt: Two weeks ago, thousands stood in line to be among the first to get their hands on the PlayStation 3. Surprisingly, many of these people who waited through the cold, rain, and snow did not actually want to keep the PS3. They wanted to buy it for $600 and sell it on eBay for twice the price--a profit-seeking behavior known as arbitrage.

gizmodo - PS3 Grey Marketwatch: Ebay Bubble Shows Prices up to $99,999,999, Excerpt: The auction for $99,999,999 was taken down. I think that on top of the violence, we'll see lots of mail fraud, but also, I think people are starting to see how ridiculous it is to pay this much for a console.

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