iPhone Duo resale prices hit HK$33,000 amid scarce supply in Hong Kong
Resale prices for Apple's foldable iPhone Duo have surged, with sealed 2TB models reaching HK$33,000 at Sin Tat Plaza. Long queues formed as traders sought to profit from shortages, with some earning over HK$4,000 per unit.
Resale prices for Apple's first foldable iPhone Duo have soared since its launch last Friday, with sealed 2TB models fetching HK$33,000 at Sin Tat Plaza in Hong Kong, according to traders. The surge came as 1TB and 2TB models ran short, with most buyers having opted for smaller capacities.
Over 200 people holding the new phones queued outside the mall before it opened at 9.45am on 25 October, with police and staff managing the crowd as it spilled onto Tung Choi Street, reported Sing Tao Daily, sister publication of The Standard.
First-time seller Ho sold a Night Sky 512GB model for HK$24,000 and described his mood as "pretty good." Zhang, who made a special trip to Hong Kong to sell a Star White 512GB model, earned around HK$4,000. He said the price was slightly below his target but described the crowd surrounding the building as "very shocking."
Tang, a PhD student at Polytechnic University, queued for more than half an hour and made HK$3,700 profit on reselling a Star White 512GB unit. Satisfied with the price, he said he would still hold off buying one for himself, citing creases and overheating as his main concerns.
Prices varied throughout the day, with the 1TB model climbing to HK$27,000, a profit of more than HK$4,000, by the evening. The 2TB models reached HK$33,000, about HK$5,000 above the original price, with the Night Sky colour more popular.
Steve, a store owner at the mall, attributed the booming market to delayed delivery dates by Apple and a larger share of stock going to telecom carriers, which reduced the supply of sealed phones. Export buyers require sealed phones, he said, pushing sealed unit prices about HK$2,000 more than opened ones.
