iPhone 5 re-sellers can expect to fleece early adopters for up three times the handset’s recommended retail price, an analyst-cum-academic predicts.
According to the very donnish sounding Professor Michael Waterson, an economy analyst at Warwick University, the iPhone 5's price will skyrocket on auction sites in weeks to come, just as it did with the last generation Apple phone.
After number crunching eBay stats, Waterson calculates that in the six weeks following the launch of the iPhone 4 almost all were above the listed retail price, with the top yield reached triple the asking price in shops.
He said: "For the 16GB version of the phone, 98 per cent of sales completed at a value in excess of the listed retail price of £499.
"The average price was £640.35 and the maximum achieved was £1,180. For the 32GB version of the phone, 97 per cent of the sales completed above the listed retail price of £599. The average price was £778.73 and the maximum price achieved was £1,551."
Shocking, no? To a certain extent. In our book if you’re damn fool enough to pay three times over the odds for something simply to feel smug at your local hostelry, you kind of deserve what you get.