In the wake of the recent launch of the iPhone 15, large crowds have been spotted around Apple stores in Dubai. The much-coveted gadget, originally priced at AED 5k, is already being resold online for an astounding AED 10k!
The sizable markups on these online platforms are creating hefty profit margins for resellers, with prices ranging according to GB, color, and, quite notably, seller audacity.
The entrepreneurial spirit in Dubai has come to light as people rush to buy the latest Apple product only to resell it at a higher price. The hustle doesn’t stop in Dubai; a similar trend is observed in Singapore, with approximately 74 listings on Carousell showing prices between $1,680 to $2,500.
While purchasing from the official website requires a 4-5 day waiting period, opting for these resold units could guarantee same-day delivery. For those believing time is money, resellers are certainly seizing the opportunity.
This phenomenon raises the question, how much are consumers willing to spend to get their hands on the latest iPhone, and how far will resellers go to capitalize on the demand?