Hong Kong is a crazy place – everyone is busy, busy, busy, everything has to happen quickly and there is so much commercialism everywhere! Shopping seems to be everyone’s favourite past time, judging from the amount of people carrying shopping bags and queuing to get into shops and shopping malls.
As soon as a new Apple gadget is announced, people go crazy and queue up to buy the item (I’ve written about this before). There are now three Apple stores in Hong Kong (IFC, Hysan Place and Kowloon Tong) and they are always busy. As soon as the new iPhone 6 was announced, people tried to get this immediately – regardless of the high price tag.
Especially lots of Chinese came across the border, hoping to get their hands on the new mobile phone – but it is tough for them to register to purchase it. So what happened? Of course, a black market selling iPhone 6 started to pop up. And that’s out in the open! In front of the Hysan Place Apple Store sits a row of sellers, with open suitcases filled with iPhone 6 phones – at an inflated price, of course. But at least, buyers can now get hold of their beloved status symbol.
It is a bit outrageous – people queue inside the store to purchase the phone, then there are security people at the entrance, making sure that the resellers stay outside – but they are just a few steps further away from the store entrance, out in the open and openly reselling the phones. But it seems the resellers don’t make a huge profit, according to the article in the SCMP: “In a typical trade (a buyer) would offer a vendor a premium of about HK$700 for an iPhone 6, which costs HK$5,588 from the Apple store. He would then resell it for about HK$200 profit.” Still, it seems a couple of thousands of HKD can be made in the run-up to Christmas!
I have no idea how they got so many of them (according to the SCMP article an Apple security guessed that only 10-20 per cent of people probably use their newly bought phones, the others resell them). I’m happy with my ‘old’ phone, which is not the newest model. It does not matter. As long as it works, I’m happy!