The iPhone 5 will be available in the Apple Store or at your carrier’s store Friday, the 21st of September. But if you can not wait till tomorrow or if you live in Hong Kong you can already get the iPhone 5 on the grey market, if you don’t mind paying a hefty premium on it….. 1135 dollar for an unlocked 16GB, and that’s a markup of nearly 40%.
MicGadget made a small comparison to see the price difference between Apple and the Grey market:
iPhone 5 (Grey Market Price, unlocked)
16GB: HKD$8,800 (US$1,135)
32GB: HKD$9,800 (US$1,264)
64GB: HKD$10,800 (US$1,393)
iPhone 5 (Apple Official Price, unlocked)
16GB: HK$ 5,588 (US$721)
32GB: HKD$6,388 (US$824)
64GB: HKD$7,188 (US$927)
Alright, Mr Lo, the ‘master’ of the grey market in Hong Kong who distributed hundreds to thousands of iPhone 4s and iPads to China’s gray market, told the local media that he is selling the iPhone 5 starting at HK$8,800 (about US$1135). When Lo was asked about the sales of the iPhone 5, whether there would be a demand for it, he said the stock for the iPhone 5 is quite tight, so he thinks it will be alright to re-sell the phone for a hefty markup, at least for the first two weeks. What’s more, he has prepared “secret” couriers in U.S. and Europe to hop on planes to Hong Kong after securing about hundreds of iPhone 5s. Right now Lo has already received 100-200 orders from mainland China customers before the iPhone 5 goes on sale in Hong Kong’s Apple retail store. He added that the grey-market iPhone 5 would not be limited in warranty and could come with an international guarantee, meaning owners could go into any Apple shop and have the device checked or replaced if required.
Customers from mainland China said “It’s frustrating that we don’t get the iPhone 5 immediately in China, and I don’t mind paying more to get the phones first because I think they are such a must-have gadget.”
Mr Lo is also buying sealed iPhone 5s from customers by offering an additional HK$1,500 – 2,000 (US$193 – 258) for every capacity of iPhone 5. This drove many scalpers and the ones who just wish to make some easy money to pre-order the iPhone 5 from Apple and sell to Mr Lo.