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IPad 2 Selling for Thousands on 'Gray Market'
March 14, 2011
Reports indicate Russians are buying and then re-selling the iPad 2 for a huge profit. Analysts say Apple's two per household limit is to blame.
BY CHRISTINE SLUSSER
You're watching multisource tech news analysis from Newsy
The iPad 2 is in high demand. So high, in fact, one college student sold her spot in line to nab the new gadget for nearly a grand.
STUDENT: “The first hour that I was here, I had one offer of $600.”
REPORTER: “Oh my God...and so how much did you end up selling it for?”
STUDENT: “$900.” (Video Source: After Dawn)
...but there’s a new conspiracy afoot as to why the iPad 2 is selling out so quickly...and it’s a lighter shade of the black market.
“The idea is that the person who put up the money to buy the iPad2 was preparing to resell it elsewhere, usually outside the borders of the U.S., at an inflated price. Welcome to the world of the gray market.” (Image Source: News Quest Online)
One blogger points a finger at a more specific group: Russians. After listing a spare iPad 2 on Craigslist, a Russian man tried to buy it. Chip Chick tells his story.
“...he says he started waiting in line for the iPad 2...He also said that afterward he waited in line to buy a second round. He then came back a third time with a disguise on...and purchased a third round, and paid a guy in front of him in line $200 to get him another.”
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