eBay pulls plug on PS3 auctions

Just hours after retailers, including GameStop, opened their doors for a limited number of PS3 preorders, "owners" were already advertising them for resale on eBay, all at inflated prices.

Although 20 listings for PS3s were found on the site at press time, no bids had been made--and when users tried to click through to the seller's page, they were instead redirected to an "Invalid item" page, the eBay equivalent of a brick wall.

"This listing is unavailable," the page read. "If the listing was removed by eBay, consider it canceled."

eBay's policy on presale listings had previously been something of a grey area. According to the rules and policy information on its Web site, presales are in fact, permitted, but there are restrictions.

One restriction is that the item must be available within 30 days of the date of purchase. So PS3 auctions that conclude starting tomorrow would technically be allowed by the company. However, it is likely that what caused eBay to pull the plug is more closely tied to its policy on reselling items that the buyer has not paid full price for and therefore does not actually own.

Another reason for pulling the listings could be that although the seller has paid a $100 deposit, it does not mean they are obliged to pay the balance and take possession of the console.