iPad 2 Resellers On eBay Make 50% Profit

According to a report from auction giant eBay, resellers are making hundreds of dollars by selling Apple’s iPad 2 on its platform. The selling prices have reportedly averaged almost 50% above retail, the report showed.

The average selling price of a 16 giga byte Wi-Fi iPad, which was launched three weeks ago, has been selling for around $697 according to the report. The sum exceeds Apple’s retail price by $198.

The 64 giga byte iPad 2, which is more expensive than the 16 GB version, is putting even more money in the resellers’ pockets. While its retail price lies at somewhere around $829, the auction price on eBay is said to have averaged $1,235, making it 49% higher than the retail price.

"There's a real issue getting the iPad 2, mainly because its just very appealing." said Ezra Gottheil, an analyst with Technology Business Research. Eager buyers in the US, UK and around the world saw the tablet PC sell out in most stores within just a few days.

Customers in the UK are waiting for new shipments, which reports suggest are scheduled to depart on the 22nd of April and be arriving on May 3rd. Several smaller retailers have also put up their prices for the iPad 2, by as much as £100 or more, to cash in on the short supply.