I have this happen to me before, bought a used ps3 off my friend for $100 with controllers
determining on how old your system is can be the thermal paste on the heatsink and on the PSU/GPU has dryied out and turned to slicon clay which is normally a cause if your system is over 3years old.
Brief explainition: on why and how this happens. Processor are the nervous system of the any PC and PC like hardware, they produce an amount of heat since they do alot of the transfering. Over time the paste that transfer heat from the processor to the heatsink gets used up or burned out. This is normal event in pc and happens.
Solution: Try to see if you still have warranty before you do anything.... If you dont then i suggest you take your PS3 apart, mark off the outscrew and place them in a bag, Mark the two different inner screw and where they go and place those in a different bag marked properly and carefully take the discdrive, powersupply and set aside then take off any accessory I.E. bluetooth attenna, card reader, etc and place those aside.
Under the disc drive should be four wider and bigger screw, 2 to each pressure plate. take those and set aside not losing those four screws. Now take the ground sheld away and finally careful remove the mobo *motherboard* Underneath is the processor and right under it on the bottom shell is the heatsink.
Take a Q-Tip and a small capful of rubbing alcohol or if you do have "goo be gone" It will work 100% better and carefully remove or break down any leftover residue of thermal silicon.**Should come off like years old ruber padding on a plate** Now do the same to the heatsink.. Go to your closes computer store and buy a mini thermal paste syringe, cost no more then $5 unless you prefer the pro set which will cost you $10 and up for more thermal contact. Now then apply a small amount on the center of both the PSU and GPU then put back the mobo and all the accessory back the way you took it out in reverse starting with the mobo, ground shield, acesory, etc till you have the case back on and test it out.
Btw i sugest going with the Pro thermal grease with silver partical for two factor they 1. transfer heat better and 2. determining how long you leave your consule on the product wont silicon till for more then 4years with out touchups.