Parents desperate to get their hands on the Playstation 2, this year's most elusive Christmas gift, are paying up to five times its retail value.

Games buffs have spotted a lucrative market in the Sony Playstation 2, this season's must-have computer console which is in desperately short supply.

Some buyers are willing to part with £1,500 to prevent tears over the turkey, even though its high street price is about £300 - when it can be found.

Many are turning to small ads in newspapers to find some Playstation owners are willing to part with their machines - for a premium price.

Neil Anderson, a marketing manager from Brighton, hopes to sell his Playstation 2 for £800. He got hold of it after ordering from a retailer last month.

Neil, who received three calls as soon as the advert appeared, said: "If you ask too much money it's taking the mickey but if someone is prepared to pay £800 I will sell."

He said: "I never set out to make money and I'm quite happy to keep it but every Christmas there is demand for the top toys."

Evan Lawrence, 25, of New England Road, Brighton, managed to get hold of one of the machines this week through the internet firm he works for. He is now advertising it for about £500.

Mr Lawrence said he would use the cash to enjoy the New Year and added: "I managed to get mine yesterday. I have already had calls from people who are interested.

"There are some people who are auctioning their Playstation consoles. If I don't get rid of mine now, I'll sell it in the New Year.

"Perhaps I'll walk round Brighton wearing a placard at the weekend."

Another advertiser, who did not want to be named, has his on sale for £600. He said: "One went in London last week for £1,500.

"I haven't sold mine yet. I think I should have advertised it earlier because most people have bought their presents by now."