You obviously don't understand economics.
When Apple has a "lack in supply of iPad", what we really mean is that there aren't enough iPads to meet demand... AT THAT PRICE. The bold part is crucial. In order to equalize supply and demand (and for Apple to maximize profits), sellers of products normally (throughout most of economic history) adjust the price. So in this case, the price should be higher until there is enough supply and then the price can be reduced to keep enough demand to eat the supply.
Congratulations. You understood the first day of high school economics.
But Apple doesn't adjust prices based on availability or use an auction system. Instead they launch with constrained supply, a fixed price, and the result is massive waiting periods and physical line-ups. The amount of time spent by people in line-ups is massive (and it has a time and therefore monetary-value).
No retailers use an auction system because customers hate it and because it massively increases transaction costs. (Transaction costs won't be covered until the third week of classes).
In addition, customers want transparency in pricing. A customer who will be happy to purchase an item for $500 won't even bother going to the store if the price is going to be $500-$1500.
The resellers are not doing anything evil or sleazy. They are not "gouging". The technical term is arbitrage. Apple doesn't adjust the price to match market conditions, which means Apple is actually under-selling the iPad during the first weeks with low supply. The resellers are noticing this arbitrage window which is basically money that Apple has left on the table and doing what Apple should have done and making the profit for the trouble. Their profit is the discrepancy between the market-price and the fixed retail price.
Yes, they are doing something sleazy, and what they are doing is gouging.
And it's pretty stupidly arrogant to tell the most valuable company in the world how they should be selling their products, particularly when you are doing it based on the first day (okay, maybe the first week) of HS economics.
Again - why don't other retailers sell products this way? Because they are too stupid?
Thanks to resellers, customers don't have to wait in line-ups. If you want it, you can have it on the spot - you just have to be willing to bid more than your fellow iPad addict. If you want it so badly you're willing to pay a few hundred bucks more, it can be arranged.
Well, you are leaving out transaction costs. It's easy to find an Apple store. It's harder to find a reseller, and much harder to find a reseller whom you know won't rip you off.
And I haven't seen any evidence that the presence of resellers means that people don't have to wait in lines. What I've seen (in previous years) is that genuine retail customers have to compete with resellers for products offered for consumers. Apple does have a program for resellers (see, e.g., BestBuy) - but the scalpers are ignoring it.
But the main point you are missing is that the fact that something can be *explained* by economics doesn't mean that it is *good*.
But more to the point, using an auction system would dramatically increase transaction costs, alienate customers, slow down the purchasing process, and basically cause Apple to sell far fewer products.
The fact that the resellers are returning the iPad means that Apple has done something right - they didn't move to an auctioning system - and frankly it would feel weird for them to do so - rather, they made sure they had adequate supply built-up this time.
Good for Apple. Good for the customer.
Of course they didn't move to an auctioning system. That would be tremendously stupid...as I think you do kind of know, theory or not.
The resellers will always find another arbitrage window to close. And that's good for the customer too.
There were recently some tornadoes in the midwest - maybe they can sell gas at $15/gallon to the victims. I'm sure they'll be happy to not have to wait in line.
