Apple iPhone X selling at over Rs 1.7 lakh on eBay India's website

The newest smartphone model from Apple i.e. the iPhone X is now available for sale in the Indian market. While a large number of dedicated followers of the brand lined up and bought the latest variant, it seems some of them had plans other than simply owning it.

Days into the inauguration of iPhone X sale in India, it has emerged that many of the initial buyers are trying to sell the product through online sales platforms. A search on the popular e-commerce site eBay reveals that many buyers are selling their newly acquired iPhone X smartphones at inflated rates.

Also Read: Apple's 5.8-inch iPhone X to cost Rs 89,000 in India, available from Nov 3

While the iPhone X’s 64-GB base variant that costs Rs 89,000 is being sold at a price as high as Rs 1,48,050, the 256 GB variant that is priced at Rs 1,02,000 is being offered at up to Rs 1,70,800.

Source: eBay

This indicates that many bought the model aiming to sell it to customers who would want to buy it without waiting in long queues. The sellers are also banking on the limited supply by Apple.

While the strategy is amusing, the trend is not limited to India alone. A report in USA Today had on Saturday pointed out that in fact many who had bought the smartphone in the country were planning to sell them at prices which were double the actual rate.

Last week, a man was also arrested at the Mumbai airport for trying to smuggle 14 iPhone X handsets to Hong Kong and sell it at double the price in their grey market.