You read right. There is an Ebay Auction going on right now where you could earn the right to get a PS3 for a buck.

But there is a catch. Trust me though it's a good catch.

In order to be able to bid on this item you need to go to the One Dollar Playstation 3 website and write a letter to Santa explaining why you want or need this console.

Your odds are pretty good right now as there is only 283 other letters posted (as of this writing).

So if you want to spend a few minutes figuring out why you deserve this, and share your thoughts with the web, I'd recommend it. I did a letter - not because I want a console but because I'm going to donate it to a local childrens charity.

All in all I'd say not a bad investment of your time in hopes of winning this $1500 USD package for a mere dollar, wouldn't you say?