A study by the University of Warwick's economy analyst, Professor Michael Waterson, suggests that morons eager for iPhone 5 beaver might pay up to three times the retail value.
The Profs findings are based on a study of eBay activity following the release of the iPhone 4 in June 2010.
"We monitored all eBay transactions on the iPhone 4 for six weeks from 24th June last year when it became available in the UK. The extent of eBay activity on this product was extraordinary, with total transactions amounting to around £1.5m for 2,183 sales," explains the good Professor.
"For the 16GB version of the phone, 98% 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% 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."
Waterson suggests that stock shortages drove consumers into an iPhone-craving frenzy, and reckons we could see the same thing happen again this year with the iPhone 5. Stock shortages? Apple? Surely he can’t be serious?
"The product was in short supply and so it's probable that demand was influenced by immediacy or 'snob value'. It will be fascinating to see what will happen to the iPhone 5 as the launch is eagerly anticipated. I think we will see the same level of activity.
"It seems we are willing to pay well over the retail price for the kudos of being one of the first people to own the latest piece of technology. This study suggests technology is the one area where we are not prepared to tighten our belts in the current financial climate."
Via: Tech Digest