Apple Hong Kong still holding its daily lucky draw: Grey Market is still vibrant under shortage of supply

Apple Hong Kong still holding its daily lucky draw: Grey Market is still vibrant under shortage of supply

As the supply shortage is still happening in Hong Kong, Official Apple Store is still hosting its daily lucky draw for pre-ordering to deal with immense amount of shoppers. Amid the thousands and millions of online application to buy the newest iPhone 5 here in Hong Kong. The “lucky draw” starts 9:00 am and ends 5:00 pm everyday. Successful applicants will be notified by email before 9:00pm. What is included in the confirmation email? Your name, the unit you ordered and time you are required to present yourself the next day at the Apple Store (IFC, Festival Walk now). People are quite annoyed about the uncertainty with the ordering and still many of the millions who applied online are unsuccessful. The point is, not many people have claimed themselves winning the lucky draw, where do all the remaining winners go? Mind that the lucky draw form is just a very simple input form where you are required to fill in your name, email and your government issued ID (which could mean a lot of things to HK people: your ID card, passports…etc). Why millions of applications? There are still Chinese mainlanders competing in this game. The massive amount of HK applicants plus the mainland competitors in considerable size, the match is very keen.

An iPhone 5 can still earn around $300 US Dollars in the Grey Market. For example, if you got an iPhone 5 16GB at $5580 HKD, you could be able to sell it at $8400 in the Grey Market. Its much much higher than the daily wage of many people. Therefore, connecting to the Internet and fill a form on Apple Store Hong Kong has become a daily work for lots of second-hand and parallel traders.

Till now, the lucky draw still exists without an online order system that other countries are using.

The reason why Hong Kong’s iPhone 5 are so precious also because it is SIM- unlocked, meaning you don’t need to jailbreak nor unlock it from software or hardware perspectives. It could be used worldwide on all GSM networks. Both Mainland and buyers internationally are looking forward to getting one in Hong Kong. The Grey Market, however, is till selling an iPhone 5, 16 GB for instance, for around $11000.

People also set up website to announce the daily market second hand price for selling iPhone 5.

http://www.iphoneprice.hk

It is expected this trend will go on for a while until all ends are met.

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An instant profit of up to HK$3,000 awaited shoppers who bought one of Apple’s new iPhones, which went on sale in Hong Kong on Friday morning.

The release of the iPhone 5 drew a crowd of nearly 100 speculators outside the company’s flagship store in Central. Customers who emerged with the new phones were offered between HK$7,000 and HK$8,500 for the 16GB model – which costs HK$5,588 in the store.

Some said the best prices were offered by parallel traders from the mainland, driven by the high demand for the gadget in China.

But some diehard Apple fans said they would pass up the easy profits and keep the new phone for their own use.

At the head of the queue outside Apple’s Central store on Friday morning was Brigitte Cheung, who bought two white, 16GB iPhone 5s and said she planned to keep both for her own use.

“It’s exciting that I am among the first group to get our hands on the gadget,” she said. “I’ve been using iPhones since they first hit the market.”

Meanwhile, in Mong Kok, more than 100 people had gathered outside Sunion Telecom, a premium reseller of Apple products, by around 7am. A woman in her 60s, who was second in the queue, said she began waiting at 2am.

The shop had 70 of the new phones in stock, and sold out soon after opening for business.

About 10 speculators who bought at Sunion took their new phones to Mong Kok’s Sin Tat Plaza to sell them to parallel traders. Shops there offered the 16GB phones for between HK$8,800 and HK$9,300.

Carmen Wong of Wiki Technology said she had sold 20 of the phones on Friday morning, with the biggest buyer spending more than HK$100,000 on 11 phones, saying they would be gifts for friends.

Queues were also seen outside One 2 Free and 3HK stores in Mong Kok. The two companies accepted walk-in purchases on Friday, while competitor Smartone was selling only pre-ordered iPhone 5s.

Apple has been selling the iPhone 5 through a lucky draw, picking out names from prospective buyers who register online. The successful applicants are notified by e-mails telling them what time to redeem their purchases the next day. The company has not said how much longer it will use the draws

Via SCMP

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