By Martin Vedris

SYDNEY, NSW: Daily stock clearance website Catch of the Day,, has secured 1,800 of the 120GB PS3 Slim consoles and is selling them today for $449 with a $50 cashback if the purchase is made through PayPal.

This is the cheapest price on the PS3 console in Australia, by a long margin. The recommended retail price of the 120GB PS3 Slim is $499 and major retailers are selling it for $479.

To qualify for the $50 cashback and achieve the $399 price, buyers need to have a PayPal account.

According to the PayPal Cashback Terms and Conditions, the $50 cashback will be deposited into the buyer’s PayPal account before 14 December. There is a limit of one $50 cashback per PayPal account.

The PS3 Slim console does more than allow game playing, it plays Blu-ray Disc movies, stores and plays music and video and stores and displays photo and it connects to the Internet with free access to the PlayStation Network. And now with the launch of the new Play TV module with twin tuners (RRP $169.95), it can be used as a fully functional PVR, and give the ability to pause, rewind and record live free-to-air TV, record a program while watching another or even play a game or watch a Blu-ray movie while recording.