Xbox frenzy hits eBay

The new Xbox will be launched in the UK tomorrow, but impatient players are already willing to pay double the purchase price to get the hardware a day early.

Prices for consoles have risen above £500 on the British eBay site. The retail cost of the new Xbox will be £200 for the basic model or £270 for the console with 20Gb of storage.

None of the boxes will be available before the official launch in the UK, but sellers claim to have a guaranteed supply and are promising to get the consoles to buyers before Christmas.

Microsoft has admitted that consoles are likely to be in short supply, with an initial batch of 300,000 headed to the UK for the launch. Retailers are warning that they have already sold out on advanced orders alone.