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Internet auctions of Microsoft's new console are already heating up, prompted undoubtedly by some retail stores telling customers they don't expect to get any more Xbox 360s in stock before January...Auctions on eBay for the machine are escalating fast. Early Tuesday morning, core systems were selling for as little as $650, a notable markup from their $299 retail price, but not outrageous by eBay standards. Premium systems (with a wireless controller, hard drive and cables for high definition TVs) were selling for closer to $1,000, a $600 markup from their $399 in-store price.

By mid-morning, though, one premium system sold for $3,050, with well over a dozen following suit, coming in between $3,000 and $4,000. By mid-afternoon, one buyer was so eager to own one of the new systems paid $5,100 for a hard-drive enabled machine.