Russians are buying and then re-selling the iPad 2 for a huge profit

The iPad 2 is in high demand. So high, in fact, one college student sold her spot in line to nab the new gadget for nearly a grand.

STUDENT: “The first hour that I was here, I had one offer of $600.”
REPORTER: “Oh my God…and so how much did you end up selling it for?”
STUDENT: “$900.”
(Video Source: After Dawn)

…but there’s a new conspiracy afoot as to why the iPad 2 is selling out so quickly…and it’s a lighter shade of the black market.

“The idea is that the person who put up the money to buy the iPad2 was preparing to resell it elsewhere, usually outside the borders of the U.S., at an inflated price. Welcome to the world of the gray market.” (Image Source: News Quest Online)
One blogger points a finger at a more specific group: Russians. After listing a spare iPad 2 on Craigslist, a Russian man tried to buy it. Chip Chick tells his story.

“…he says he started waiting in line for the iPad 2…He also said that afterward he waited in line to buy a second round. He then came back a third time with a disguise on…and purchased a third round, and paid a guy in front of him in line $200 to get him another.”

Some bloggers blame Apple CEO Steve Jobs for the burst in others’ overseas profits–since he made up the two-per-household limit for the new tablet. (Video Source: Apple)

Website 9to5 Mac is one site blaming Apple– and reports online megasites like eBay are also seeing high price sales of the iPad 2.

“For those in the US and abroad, the biggest gray market is eBay where iPad 2s are going as high as $4000. There seems to be something wrong with Apple’s distribution strategy, though it doesn’t immediately seem like anything can be done.”

While most media reports indicate the  iPad 2 is sold out, ZDnet still encourages those tech-obsessed to scour local stores because hey, it’s cheaper than the alternative.

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