Just as Apple iPhone 5 goes on sale tomorrow in US and Europe they are reports that device has already gone on sale on the grey market in Hong Kong. Some grey market vendors have already managed to obtain stock of Apple iPhone 5 and are selling for a very hefty price of  $1100 in Hong Kong which is about  $720 US dollars.

The report names the seller as “Mr. Lo”, who has a history of selling Apple products prior to their official launches at significant markups.

[box_dark]When Lo was asked about the sales of the iPhone 5, whether there would be a demand for it, he said the stock for the iPhone 5 is quite tight, so he thinks it will be alright to re-sell the phone for a hefty markup, at least for the first two weeks. What’s more, he has prepared “secret” couriers in U.S. and Europe to hop on planes to Hong Kong after securing about hundreds of iPhone 5s. Right now Lo has already received 100-200 orders from mainland China customers before the iPhone 5 goes on sale in Hong Kong’s Apple retail store.[/box_dark]

You can compare the price between the Grey market iPhone and Apples official iPhone.

iPhone 5 (Grey Market Price, unlocked)

16GB: HKD$8,800 (US$1,135)

32GB: HKD$9,800 (US$1,264)

64GB: HKD$10,800 (US$1,393)

iPhone 5 (Apple Official Price, unlocked)

16GB: HK$ 5,588 (US$721)

32GB: HKD$6,388 (US$824)

64GB: HKD$7,188 (US$927)

Source: micgadget

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