Step 3 - Sell the PS3

Now that you've repaired the PS3 it is time to sell it. The easiest way to do this is on eBay, unless you know someone who wants one. If you worked on a 60GB/80GB with backwards compatibility you should be able to get $300-$350 for it, depending on what accessories you include. Those with multiple controllers or games are more likely to go for a higher price.

At this point you can choose to invest the money you just made right back into some broken units, generating even more money. Repeat this process a couple of times and you will have your very own PS3 for free.

Step 2 - Repairs

Getting into the repairs. Using my original example, you should have purchased a ps3 with a broken optical drive (won't read discs) and one with some other issue (won't power on, screen freezes, etc.). If the systems are the same model, no problem swap the components and you are on your way. If the systems are not the same model things become a little trickier. If swapping the blu-ray drive, the drive has a controller board on it. The controller board must be the one from the destination system NOT the source system. That is you must take the board off of the broken blu-ray drive and place it on the working blu-ray drive. Apparently, the ps3 checks the firmware/revision of the hardware components and if it doesn't match the system will not boot. Once the drive is swapped, seal everything back up and power the system on. You should now have a working ps3. Feel free to do some testing with it, then you decide keep the ps3 at a discounted cost or sell it and start the process all over again. The latter getting you to the point where you don't have to pay for your ps3.

Step 1 - Acquire Hardware

The first step is to acquire some hardware. The idea is to get the hardware as cheap as you can. The way that I did this was to purchase some broken units off ebay. The key is to pay attention to what is broken. For example, it is ok to get a PS3 with an optical drive that doesn't work as long as you pair it with an optical drive that does. More than likely you will need to purchase at least 3 units. Also, pay attention to what is included in the auction. Controllers, original packaging, games and blu-ray discs are all items that are commonly left off of auctions for broken PS3s. Some of these you will need and others you will not. Also, pay attention to the models that you are getting. The original 60GB, while the hardest to find, is also arguably the most in demand. This is important later as you will attempt to sell a working PS3 and the more money you get the better.

How to get a PS3 for free

First of all, I want to point out that this is not some quick scam. It does not involve signing up for any offers and it does require a little work and some technical knowledge. Most information can be pretty readily found online and anyone who has worked on a PC before can tackle this task.
This site will come in very handy: http://www.llamma.com/PS3/repair/PS3_disassembly_tutorial.htm

Finally, I am sure there is more than one way to do what I describe here. I am simply providing my perspective and I can only speak to what I have done. So let's get to it. The steps will be as follows:

1. Acquire Hardware
2. Repair PS3
3. Sell PS3