Unofficial iPhone 5 in China Costs as Much as $1,700

One scalper standing outside the entrance quoted a steep price of RMB 10,800 ($1,714) for a 16GB iPhone 5 brought in from Hong Kong over the weekend. When asked if he’d sold many devices at that rate, he said customers had bought two on Sunday and one on Monday morning.

$1700 still seems like a good deal when you consider the case of these 4 customers from Gujarat, India who “pre-ordered” the phone at whopping $2265 (Rs. 1,21,000).