News

eBay speculators bump up iPhone queues predicting a killing

by Staff Writer | posted on 30 June 2007

Not many sceptics are quite as dry-eyed about the iPhone hype as Business Standard writers Kevin Allison & James Politi - who have discovered eBay speculators, hoping to double their money overnight by re-selling iPhones.

The Standard quoted one early bird: "Rumour had it that the newest Apple gadget, which retails for between $499 and $599, could sell for more than $1,000 on Craigslist or other websites," they reported. "I’m looking to double my money," said Alvaro Sanchez, who took the day off from Old Navy to wait in line for his chance to grab one of Apple’s long-awaited mobile handsets.

Like several other line-dwellers, said Allison and Politi, Mr Sanchez planned to turn a quick buck by putting his new iPhone up for sale on Ebay. "That’s the worst case scenario. I’ll probably get more."

The writers held back from doubting him.