Sony is offering up to $400 for used PS5 consoles through a trade-in program, but only to select customers who receive direct outreach. The console must be in working order and include two controllers, though Sony typically includes only one in the box. The trade-in value varies based on console model, storage capacity, and accessories.
The company is partnering with BackMarket to handle the trade-ins. However, BackMarket offers better rates than Sony's direct program. A standard PS5 with one controller fetches $435 on BackMarket, versus Sony's $400 maximum. Adding a second controller raises the BackMarket offer to $455.
Other retailers also accept PS5 trade-ins. GameStop offers up to $275 in store credit or $192.50 in cash for a standard PS5.
New PS5 consoles currently cost over $800 on Amazon, while PS5 Pro units exceed $1,000. This shortage likely prompted Sony's trade-in offer. The company may want inactive users to sell consoles so active players can purchase them, particularly ahead of Grand Theft Auto VI's launch. Microsoft has offered similar trade-in deals to inactive Xbox users this year.
If you received an email offer from Sony, you can click the link to participate. Otherwise, BackMarket and GameStop accept trade-ins from anyone.