Professor Apple predicts iPhone 5 bidding war

The University of Warwick kept an eye on the last iPhone launch, and concludes that today will be just the beginning of a barmy bidding war, as Apple pundits flock to eBay so they can say “me too!” first.

The economist Michael Waterson, who published a study on the iPhone 4’s eBay bidding wars, reckons that the iPhone 5 will prompt an even more astonishing goldrush. As soon as the floodgates are open, Waterson believes, the geniuses will have their latest shiny products snatched from their hands – begging Apple to take their money – and the early birds will place the first items open for bidding online.

Desperate for the iPhone 4, some people paid as high as £1,500 on eBay for their fruit-flavoured fix. The average selling price for the 32GB model, he says, was £778.73 – well over the retail value.

In fact, 97 percent of the sales went over the RRP. 

Thanks to the constantly churning rumour mill frantically adding to the buzz, there will be some savvy buyers who will expect to turn a quick buck in selling the iPhone 5 along.

“There are so many rumours about the improved specifications of the iPhone 5,” says Waterson, “and there is so much kudos attached to being one of the first people to own one of these coveted handsets.”

Which is funny because, as with every Apple product, they will remain expensive – but become common as muck – if you wait enough months down the line. But who will that impress? Apple knows it, and it knows its salivating market very well.