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Stop the madness!

After buyers waited in line for almost two days, the auctioning frenzy is just getting started.

If you thought the PS3 frenzy ended at midnight, you were terribly mistaken. It was just warming up.

PS3 banner

After finding very few fans planning to keep their purchased PS3 for themselves at yesterday's launch, it was to be expected that more drama would ensue today. This morning the world awoke to next-gen consoles auctioning for obscenely high prices and very few places to buy or even place an order for one.

Costco's Web site was down this morning, though now shows just an empty crate and a "sold out" banner. CircuitCity.com reports it is "sold out!" of its PS3 stash, and Wal-Mart's site lists it as "out of stock."

The Sony units were being advertised on the San Francisco Bay Area Craigslist with asking prices ranging from $1,500 and $4,000. But the blogosphere was agog Friday morning with reports of a single 60GB system receiving a bid of $9,000. No, that's not a typo, it really does say $9,000 is being offered for a video game unit originally sold for $600. But something seems, well, not quite right. The bidding jumped from $3,500, which seems to be about the standard selling price right now, straight to $8,000. You do the math.