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IK'm from venzuela and ti goes like this:

There are already a shitload of PS3's here, but the price ranges from 3-5million bolivares, or around 800-1200 thousand dollars each console, and people buy them.

Stores just go to the States, buy the console, come here and re-sell them.

If Sony starts selling the PS3 at an official price, the console could go down to about 1million bolivares, which is a good price for the console, although I highly doubt it willgo that low.

Anyways, that's how they are sold here in Venezuela, don't know about other Latin American countries though.