Last Friday, just after the first iPhones were sold, thousands of listings showed up on eBay and Craigslist, with prices of $1,000 for the 8-gigabyte phone, a $400 markup. Some bold sellers were asking $2,000. But as it became clear that supply was meeting demand, they found themselves stuck. Few of the phones have sold for more than $700, which after sales tax, is not a remarkable profit margin.

IPhone Futures Prove to Be a Bad Investment – New York Times

Serves these morons right to get stuck. Why on earth would anyone pay $1000 for an iPhone that retails for $499? Most people can wait for the new stock to arrive and get it for retail price.

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