iPad 2 Hits Taobao for the Rich and Impatient
iPad 2 is out!
You might have heard about the huge iPad 2 launch in China. The one that had created massive lines in Shanghai and Beijing, and even an incident of laowai rage. The lines were reported to be mostly made up of scalpers, capitalizing on the certain scarcity of this hot item. So what kind of profits do the scalpers get for waiting in this line for hours and hours?
This is what my PTSD nighmares look like
The 300rmb markup
I am happy to report that there is no scarcity on Taobao. If you want an iPad 2, you will pay about a 300rmb premium over the list price for the cheapest model, an 8% margin. Apple’s mainland China MSRP on the 16GB model without 3G coverage is 3688rmb, compared to 3998rmb on Taobao. (You can also get a Hong Kong model for slightly cheaper: 3820rmb.)
Rich and impatient
This iPad hoarding is a dirty twist on supply and demand. But it seems to be working out, as the biggest shops sell them by the hundreds. I could sidestep these scoundrels by waiting until the official Apple store has fresh stock. But I am a rich SOB, and an impatient one. And you know what else? I’m worth it.