iPhones fetching $700 on eBay

Aggressive demand for unlocked units and a dearth of official, in-store stock ahead of a new models's expected introduction in the coming weeks have driven iPhone prices on eBay sky-high. Some 16GB unlocked listings are currently carrying "Buy-it-now" (non-bidding) prices in excess of $700 -- a $200 premium over brand-new models purchased from Apple or AT&T and a $350 premium over AT&T's refurbished-model prices. Bidding on similar 16GB models runs between $600 and $650.

Some sellers see the massive price discrepancy as a quick profit turner; the prospect mitigated, however, by the fact that AT&T is currently limiting refurbished iPhone purchases to one-per-customer.

Apple has withdrawn the current-model iPhone from its online store. The store currently displays the message ?Currently Unavailable? for both the 8GB and 16GB iPhone models. AT&T?s Web site, meanwhile, still lists both iPhone models as available.

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