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iPhone 5 Hits Grey Market in Hong Kong Starting at $1100
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In theory, it sounds easy, but only if you're 'chosen'. There's a reason why they call it a lottery.
No need to find Lo in particular. Any shop in Sin Tat (先達, on Argyle Street in Mong Kok) will buy the phone from you. They're all going to give you roughly the same amount of money, unless you know someone there.
Regulatory issues?
When you wonder why you can't get an iPhone in less than 2-3 weeks, think of scumbag scalpers like this.
I say good for Mr. Lo...if people want to pay his prices then good for him. If i could make some extra cash like this I'd be all over it.
Many were not chosen today.
But like Scarlett said, "after all, tomorrow is another day."
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To play hard to get and make their products seem "cooler" maybe?
Or, they might just love to put money into HK's pocket.
As the article notes, "he has prepared "secret" couriers in U.S.." Works, something like this. He has a few Chinese goons in major markets like NY and LA go to their local Chinatowns and round up locals wanting to make a quick 50 bucks or so. Stuffs the price of whatever the local 'max' number is for iPhone purchases and sends hundreds of these idiots to stand in line when the local Apple Stores open. You'll see them.....irritating as hell....tens of dozens of Chinese grabbing up iPhones. They then turn them over to his 'secret couriers' (crooks) for quick flight to Hong Kong. Customs at the airport is also 'on the take' and in comes hundreds of shiny new iPhone 5's. Who suffers? Why the American citizen customer in America who wants an iPhone but finds, 'sorry we are out of inventory' thanks to these scumbags.
Many were not chosen today.
But like Scarlett said, "after all, tomorrow is another day."
Many were not chosen last year either. I signed up daily for almost two weeks for a single iPhone and was never chosen. Ended up buying an import from 先達.
Uh, what? US Customs doesn't really care what's in your bag since you're just leaving, and HK Customs doesn't care what you bring in (as long as it's not tobacco or alcohol) because HK is a free port.
I really don't understand what anyone is doing wrong as long as they're buying the iPhone at retail price. Who cares if they then sell it at a higher price? They have every right to! Why would this affect you? It seems like it's terrific for Apple...
Apple hasn't started selling iPhones online and they do a lottery to pick spots so when you reserve two (nobody only reserves one) for in-store pick up you have about 10% chance of actually getting a spot since a lot more people register than there are iPhones available. Yesterday in the street many scalpers were paying people to register their name on the lottery.
The prices are higher than what Mr. Lo predicted and you can easily go to his shop and sell your iPhones for $300 profit so anyone who won that lottery makes easy $600 (which is why so few actual customers get one; not reselling it is basically missing out on easy money). If you have the balls to cross the Chinese border and sell them on the other side you can make way more but you better not get caught.
The prices are higher than what Mr. Lo predicted and you can easily go to his shop and sell your iPhones for $300 profit so anyone who won that lottery makes easy $600 (which is why so few actual customers get one; not reselling it is basically missing out on easy money). If you have the balls to cross the Chinese border and sell them on the other side you can make way more but you better not get caught.
So even for real users, they would buy two and sell the other one.
That's like having free upgrade from 4S.
Yea, in sense I agree, but overall, I think it causes a butterfly effect to the market. I'm not a market analyst and rely strictly on my own perceptions but the fraud of it all is what upsets me. Scalping anything (here anyway) is illegal in many instances and immoral in all. Free market sure, if you're dumb enough to pay 4 times what something is worth to get it 5 minutes earlier, than your choice, and I'm a fool for believing in the honor system, but it yanks my chain anyway.
Actually, Hollister and A&F recently opened their flagship Asia stores in HK (which is a 45min train ride to Shenzhen), with obviously a lot of marketing push. From a biz perspective, Asia is the next gold mine, and with A&F/Hollister failing in the states, it makes sense...from a client perspective- OOOooo shiny and new....
you only sound ignorant when you write (with incorrect assertiveness) that his "t-shirt is an imitation too"
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The reservation makes sense in a place like HK, where a large percent of the population have maids. For any major lineup- ppl will hire maids to sit in line (since labor is dirt cheap still) for the week, and snatch up all items...then resell in China.
I say kudos to guys like the reseller, who's able to put together an international logistical nightmare to get new iphones to his shop in such little time, and taking advantage of 'hustle'.
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LMAO. instead of blaming those that take advantage of loopholes, why not blame apple for not creating enough supply to quench global demand...they have the capacity to...but they don't. why? because lack of supply can enhance demand...
And before you argue about blaming someone for taking advantage of loopholes- here's another example. Credit card companies- they offer large airline mile bonuses for those who sign up. There are ppl out there who a)actively search, and b) will sign up, use it just to get miles, and then get rid of card, or cycle to get the additional bonuses. This is generally accepted by the majority of people out there as ok...but the effect of more ppl having airline miles= harder to get reward seating for those ppl that got airline miles from actual travel....
Given the context that he works in the black market, it made sense. You sound a bit sensitive.
LOL. so those ppl who work in the black market are more likely to shop in a black market? great logic there. If the poster wrote "potentially", then i'd have no issue with the statement...but to claim something as true when there's no proof is just...ignorant.
I'm not sensitive, I just don't appreciate ignorant thoughts...
lol even though I still couldn't win Apple's lottery despite asking 5 people to sign up with their ID card, I checked the prices and they actually increased; you can now make a profit of $450 per 16gb iPhones by selling them locally and up to $650 by selling them in China. There is a popular local website with thousands of members made especially for people scalping iPhones.
um, absolutely. lol. so that means if they work in the black market all of the items they buy are from original retailers?
it's common sense. quit being so sensitive.