iPhone X users are profiting off of the latest Apple craze.
The Apple iPhone X officially hit store shelves this past week, with fans of the brand's technology showing up in droves to be the proud owner of the company's new flagship smartphone. Starting at $999, the new device certainly isn't taking it easy on the bank account of those who are rushing to buy it this weekend, but some purchasers are already looking to make that money back and succeeding in a big way.
According to USA Today, there have been several noted cases of the iPhone X being sold online with bid-style like eBay for exorbitant prices, with a secondary market now yielding giant profits for those who stood in line and copped the new device at an authorized retailer. The reasoning behind this is that busy people will skip the line, and pay the extra band or two to do so, in order to have the newest Apple smartphone in their possession. "I've seen prices like $2,000," said Jeoung An, a California man who stood in line for several hours, just to get two new iPhone X's that he planned on flipping for a massive profit. Apparently, he was trying to raise money to buy a 15-inch MacBook Pro, which starts at $2,400.
The report states that the resale prices vary greatly online, with new iPhone X units selling form anywhere between $1,450 (as an opening bid price) and $6,710 on eBay. These prices include all storage variations of the phone too, from the entry level 64GB version to the souped-up 256GB incarnation. One thing is clear: Apple isn't the only one coming away with huge profits on iPhone transactions.
The iPhone X has been at the center of more than one controversy leading up to its roll out, with a downgraded processor leading to rumors that the device might not operate to the capacity that was stated at Apple's unveiling event earlier this Fall. However, perhaps the most viral story was one centering around an Apple engineer who was dismissed because footage of his special employee edition of the new iPhone X was included in a video montage that his daughter posted on YouTube. You can check out all the details from that story here.