“The Craigslist ad is direct: ‘I’ve got what you’re looking for — 10 prime new-in-box iPhone 6 Plus!'” Tim Higgins and Edmond Lococo report for Bloomberg. “The price for the phone without a contract was for as little as $1,300, though bulk pricing may be possible, according to the ad posted this week by someone claiming to be in San Jose, California. That’s $451 more than a similarly equipped 64-gigabyte model sold by Apple Inc.”
“The ad is one of more than 1,000 on Craigslist for the iPhone 6 Plus in the San Francisco Bay Area. In New York, Chicago, and other cities across the U.S., hundreds of other ads also offered the latest big Apple phone, which went on sale on Sept. 19 in 10 countries and have since been in such high demand that the Cupertino, California-based company faces inventory challenges,” Higgins and Lococo report. “The ads show how the U.S. has joined China as a place where the secondary market for iPhones is alive and well. Yet while China’s gray market is thriving because the new iPhones aren’t available there — China wasn’t one of the countries to get the handsets last week — the U.S. secondary market is being driven by a lack of inventory, with people willing to pay up for convenience, said Carl Howe, an analyst with 451 Research LLC [Yankee Group]. Some U.S. buyers are also making purchases to resell the products later to Chinese acquirers, he said.”
“Those willing to sell their iPhones to China are set to find voracious demand. An estimated 500,000 units of the new iPhones have already been smuggled into China, Jun Zhang, an analyst at Rosenblatt Securities Inc., said in an e-mail,” Higgins and Lococo report. “As many as 5 million new iPhones may be smuggled into China before the new models are officially available, according to Neil Shah, Mumbai-based research director for devices at Counterpoint Technology Market Research.”
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