Sony Wants to Give You Up to $400 for Your PS5

Jake Peterson Jake Peterson Senior Technology Editor ExperienceJake Peterson is Lifehacker’s Tech Editor, and has been covering tech news and how-tos for nearly a decade. His team covers all things technology, including AI, smartphones, computers, game consoles, and subscriptions. Read Full Bio November 5, 2026 Add as a preferred source on Google Add as a preferred source on Google Credit: Anusak Laowilas/NurPhoto via Getty Images Key Takeaways Sony is reaching out to some customers promising up to $400 for their PS5 consoles. The deal is in partnership with BackMarket for consoles in good condition with two controllers—even though only one comes in the box. Sony is likely doing this to make it easier for new customers to buy consoles in the wake of the memory crisis. You can access a better deal directly through BackMarket. Table of Contents Companies usually want you to buy something from them. They might cut prices to make their products more enticing, or introduce perks and upgrades to make stagnant prices (or even price hikes) more appealing. But rarely do I see companies encourage customers to sell their products.Such is the case with Sony and its PlayStation console. This week, the company began reaching out to some customers with an odd prompt: Rather than buy a new PS5 or PS5 Pro, you can sell your existing PS5 console for up to $400. There are stipulations there, of course: Your console needs to be in good working order, and, apparently, come with two controllers—even though Sony only includes one in the box. The price could also fluctuate depending on your console model, storage capacity, and included accessories. But, still, the company says it'll help you net up to $400 for your existing PS5. It's a bizarre deal, especially when you consider who you're trading your console to. Sony isn't necessarily accepting trade-ins itself. Instead, it's partnering with BackMarket. The thing is, you can trade in your PS5 directly through BackMarket and get a better value than Sony is offering through its direct link. When I try to trade in my standard PS5 with one controller, BackMarket offers $435, $35 more than Sony's highest offer. If I add a second controller to that deal, BackMarket bumps up the total to $455. You might also be wondering why Sony would do this. Not only is it weird for a company to encourage you to sell one of its products, but the PS5 is about to have a big moment. Grand Theft Auto VI is finally about to launch, and it'll likely be one of the biggest video game launches, if not the biggest video game launch, of all time. Why, then, would Sony encourage users to jump ship? What do you think so far? While Sony doesn't say, the answer likely has to do with how expensive it is to pick up a PS5 right now. Even though the console launched back in 2020, units are few and far between, jacking the price up to unreasonable levels. Sony raised international prices due to tariffs last year, but the current shortage is more probably tied to the ongoing memory crisis that's putting a strain on all tech, including game consoles. A new PS5 on Amazon will easily cost you over $800. If you want to find a PS5 Pro, don't be surprised to find it well over $1,000. Sony likely wants players who aren't using their consoles to sell them, so that active players (who will also buy games like GTA VI) will pick them up. It's not just Sony, either: Microsoft has been offering similar deals to inactive Xbox gamers this year. Selling your PS5If Sony reached out to you directly, you can take advantage of the deal without issue—just click the link in the email. But if you never received such an offer, you still have options. For one, that BackMarket deal is live for anyone. That links takes you to the deal for the standard PS5, but you can also head to this link to enter the info for your specific PS5 model. GameStop, of course, will happily take your PS5 off your hands, but it doesn't seem as generous as BackMarket. Right now, it seems you can get up to $275 in store credit, or $192.50 in cash for a standard PS5. Lifehacker has been a go-to source of tech help and life advice since 2005. Our mission is to offer reliable tech help and credible, practical, science-based life advice to help you live better. Our Mission Our Team Newsletter © 2001-2026 Ziff Davis, LLC., A ZIFF DAVIS COMPANY. ALL RIGHTS RESERVED. Lifehacker is a federally registered trademark of Ziff Davis and may not be used by third parties without explicit permission. The display of third-party trademarks and trade names on this site does not necessarily indicate any affiliation or the endorsement of Lifehacker. If you click an affiliate link and buy a product or service, we may be paid a fee by that merchant.