Thursday, June 24, 2010

Markets in Everything: $1,000 for a Place in Line

NY Post -- "The Big Apple has iPhone fever -- and it's gotten so bad that places in an all-day, all-night line to get one are going for more than the pricey gadget itself.  A full day before the latest update to the multimedia cellphone was scheduled to go on sale, lines snaked around the Apple flagship store on Fifth Avenue at 59th Street.

Some high-tech fans actually lined up on Tuesday for today's launch of the iPhone 4.  The crowd included several entrepreneurs who were hawking their places in line for $1,000 -- for a phone whose top price is $299."

HT: Carlo DiPietro


At 6/24/2010 9:28 AM, Anonymous Deng said...

Some people have too much money on their hands.

You can usually make good money purchasing a Harley Davidson and selling it on the delivery date. With wait times up to two years, people will pay several thousand dollars to get your "place in line". You have some opportunity cost to your deposit and some paperwork, but that's it. You also usually don't want the dealer to know you're doing it but some don't care.

At 6/24/2010 11:04 PM, Anonymous Lyle said...

Or to put Deng's comment another way a fool and his money are soon parted. Actually the who Iphone hysteria shows part of one of the fundamental problems of this country the inability to defer gratification. So you have to wait an additional day to get the Iphone, so what. The world will not come to an end because of it. Your Iphone will not solve your problems or the worlds problems and provide only a very brief period of happiness.


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