So you‘ve had your PlayStation 3 sitting in storage for years and are wondering what it may be worth today. With newer consoles like the PlayStation 4 and 5 now available, the PS3 is retro and collectible for gaming enthusiasts. In this detailed guide, I‘ll go over everything you need to know about Playstation 3 value in 2024 and how to sell yours for top dollar.
PS3 Value Based on Condition
While a broken PS3 may only sell for $20-$50 just for usable parts, well-maintained consoles can still fetch decent money depending on model and included accessories.
| Condition | Value |
| Faulty/Not Working | $20 – $50 |
| Heavily Used | $60 – $120 |
| Good/Lightly Used | $130 – $200 |
| Like New/Mint | $250 – $350 |
| Sealed/Brand New | $400 – $600 |
As you can see, condition drastically impacts resale value. Units with heavy scratching, yellowing, or other physical wear lose significant value. Fully non-functional consoles are worth very little except for spare parts. But keep in mind special editions in any condition command higher premiums.
Most Valuable PlayStation 3 Models
While later PS3 Slim models sell in the $100 range used, these earlier hardware editions consistently fetch higher prices from collectors:
Launch Editions – 20GB and 60GB
These machines are highly sought after for full backwards compatibility with all PS2 titles. The Emotion Engine CPU allowed playing last-gen games, a feature removed in cost-reduced models. The 60GB launch model with integrated SD/MemoryStick slots is worth $150 to $300 used.
Metal Gear Solid 4 Limited Edition
Bundled with a copy of Metal Gear Solid 4, this special PS3 had a gunmetal grey case and exclusive artwork for the popular stealth series. Only sold in 2008, it goes for $200 to $400 now if in great shape.
Final Fantasy XIII Limited Edition
This model came with an included copy of Final Fantasy XIII, considered one of the best RPG titles on PS3. The etched artwork and game inflate its collector value to $250 – $500.
20th Anniversary Edition
Sony created this ultra premium PS3 with an engraved logo and chrome accents. But only 12,300 were produced worldwide, making it extremely rare. In box examples now auction over $2000.
As you can see, special editions bundled with hit games and limited production numbers command huge prices from serious collectors.
How to Check Your PlayStation 3‘s Current Value
Determining what your used PS3 is worth requires careful inspection of its condition and completeness. Follow this checklist:
- Power on the console and thoroughly test for any issues with games, Blu-ray, and controllers.
- Closely examine the exterior for any scratches, scuffs, cracks, or physical damage.
- Check that all cables and at least one OEM controller are included. The original box raises value.
- Verify if your model has integrated card readers or PS2 backwards compatibility.
- Note any included games, particularly valuable titles like Metal Gear Solid.
- Check the model number and manufacturing date to identify the release version.
This evaluation will give you an accurate appraisal of resale value. Rare editions like the 20th Anniversary PS3 can be tremendously valuable to collectors even out of box. More common Slim models in rough shape may only be worth $50-60.
How to Get the Most Money When Selling Your PS3
Once you know your PlayStation 3‘s fair market value, you can start the selling process. Here are my recommended methods for maximizing your payout:
Local Listing Sites
Selling locally via Facebook Marketplace, Craigslist or OfferUp allows you to set your asking price and avoids all marketplace fees. Meet in a public place for a safe cash transaction. Beware of scammers – deal locally only.
eBay Auction
eBay offers worldwide exposure, ideal for rare editions that collectors may seek out. Choose an attractive starting bid and let the market determine the value. Keep in mind eBay takes 12.9% in fees.
Specialized Console Buyers
Sites like DKOldies, JJGames, and Next Gen Video Games buy used PlayStation 3 hardware and games. You‘ll get competitive rates, often better than GameStop.
Online Marketplaces
Listing your PS3 on sites like Decluttr, ItsWorthMore, and SellMyRetro will get you slightly lower but still fair rates. Expect to receive a prepaid shipping label for easy mail-in.
Recommended Selling Practices
No matter what listing method you use, these tips will help attract buyers:
- Take high resolution photos showing any blemishes/wear
- Note all accessories, cables, games included in description
- Price 10-20% below current market rate to stand out
- Offer expedited insured shipping for online sales
- Factory reset the console to wipe personal data before selling
Following a thorough cleaning and restoration process will maximize the value collectors and gamers will pay. And be sure to price competitively – overpricing will just result in your listing being ignored.
Non-Selling Options for Your PS3
If going through the selling process sounds unappealing, here are some alternative ways to get value from your unused PlayStation 3:
- Donate to a children‘s hospital or local charity and get a tax deduction. Call ahead to check electronics donation policies.
- Keep as a spare media player – the PS3 still streams many apps and Blu-ray movies nicely on modern TVs.
- Give to a family member like a kid or younger sibling who will appreciate it. Great way to enable more gaming time together.
- Use for spare parts to repair another damaged PS3 – these models have lots of reusable components.
- Explore PS3 homebrew and modding communities. Install Linux on your PS3 or try emulators.
- Recycle responsibly to keep hazardous e-waste out of landfills. Many Best Buy locations accept old consumer electronics.
While selling your PS3 is the best option to recoup some value, I hope these other ideas provide inspiration if you‘d prefer to repurpose or gift your classic console.
Why Have PlayStation 3 Prices Dropped Over Time?
When first released, the PS3 sold for $499 to $599 – quite an investment at the time! But over the last 15 years, used prices have fallen to under 10% of the original MSRP. Why did PS3 values decline so sharply?
- New console generations like PS4/PS5 make PS3 outdated
- 87.4 million PS3s were sold, creating high supply on resale market
- Increasing hardware failures of Blu-ray drives and Cell processors
- Game library seen as inferior to newer systems with better graphics
- Loss of multiplayer, DLC, and apps as PS3 online support faded
While considered advanced technology in 2006, the PlayStation 3 has been surpassed many times over by newer game hardware. The huge original supply paired with waning collector demand keeps used pricing depressed outside of rare editions.
Why Was the PS3 Initially so Expensive?
Industry journalists widely criticized the PS3‘s original $499 to $599 price tags as far too expensive, especially compared to the Xbox 360 launching at $299. But what led to the PlayStation 3‘s steep price?
- Costly new Cell processor – cutting edge but very expensive to manufacture
- Blu-ray disc drive was still novel and pricey technology in 2006
- Integrating WiFi and numerous HDMI ports drove up production costs
- Ambitious quality led to reported hardware and production issues
- Industry analysts believe Sony was likely selling PS3s at a loss initially
Ken Kutaragi, the PlayStation‘s lead architect, was determined to cram the most innovative hardware possible into the PS3, no matter the cost. This drove the starting price much higher than competing consoles, but helped establish Blu-ray as the dominant HD disc format.
PlayStation 3 Sales and Impact on the Gaming Industry
While the PlayStation 3 did not outsell its main competitor, the Xbox 360, it still posted impressive lifetime sales numbers:
- 87.4 million PS3s sold globally across all models
- Over 383.1 million PS3 games sold
For comparison, the Xbox 360 sold approximately 85 million units.
Despite its high initial price, the PS3 helped push gaming technology forward in several key ways:
- Established Blu-ray as the standard game and HD video disc format
- Powerful Cell processor architecture influenced future chip designs
- Built-in HDD for game installs paved the way for digital downloads
- Multiplayer gaming over PSN built subscriber base for future consoles
- Originated popular franchises like Uncharted, The Last of Us, and Resistance
So while not Sony‘s top selling console, the PS3 played a pivotal role in modern console and game development. The risks Sony took yielded crucial influence and technical advances.
Rarest and Most Expensive PS3 Collectibles
For deep pocketed collectors seeking the most valuable and hard to find PlayStation 3 items, these holy grails can sell for thousands:
Net Yaroze PS1 Amateur Developer System – Ultra rare developer kit for hobbyists. Only 10,000 produced. $750+ now.
KRATOS PS3 Development Kit – Internal dev hardware for studio debugging. Just a few survived. $10,000+.
24K Gold 20th Anniversary Edition – Made in extraordinarily limited numbers, these special editions go for $2000+.
Jojo‘s Bizarre Adventure Limited Edition – Bundled with the anime game, just 2000 copies exist. $400+.
Pandora‘s Box DX Mod Chip – Illicit piracy enabler created in small batches. $1000+ due to legal issues and scarcity.
Sealed Launch 60GB PS3s – Mint condition launch editions still factory sealed. As high as $1500-$2000 for serious collectors.
If you happen to own one of these incredibly rare items, even in used condition, it could be worth a substantial sum to interested collectors. But beware counterfeit limited editions and mod chips built simply for piracy. Authenticity is key.
Frequently Asked Questions
How much are PS3 games worth today?
Popular PS3 games like Call of Duty and early Rock Band titles sell for $5 to $20 used depending on condition. Rare and limited editions can sell for $60+. Check PriceCharting.com for current values.
Can I still play a PS3 on a new 4K TV?
Yes, the PS3 supports HD output up to 1080p resolution. Use an HDMI cable for both video and audio. Select 720p if your TV doesn‘t support 1080p modes.
Is the PlayStation 3 compatible with PS4 or PS5 games and accessories?
Unfortunately no, PlayStation consoles are not backwards compatible across generations. Support is limited to accessories and games for that specific generation.
What‘s the best way to securely erase my PS3 before selling?
Perform a full system format to safely wipe all your personal data. Go to Settings > System Settings > Restore PS3 System > Restore.
Where can I donate my used PlayStation 3 system?
Children‘s hospitals, Goodwill, Salvation Army, and other local thrift stores often accept gently used game console donations. Call ahead to confirm electronics policies.
Should You Sell Your PS3 in 2024?
The PlayStation 3 has undoubtedly declined in value since its impressive launch. But well maintained units can still command $100 to $300 depending on edition and accessories. For retro gaming fans, the ability to play classic PS3 exclusives makes it worth holding on to. But if your PS3 has been gathering dust, now is still a decent time to sell and recover some cash towards a newer system. I hope this detailed guide better informed you on fair market values and how to maximize your return when selling your PlayStation 3.
