When we stupidly queued up to buy an iPhone 6 on release day we noticed three things:
1) People were instantly making £30-£150 instant profit because they were near the front of the queue and had picked up the rare versions of the phone, they then sold these further back the line or direct to CEX or better still presumably online.
2) We saw one man with 20+ bags with 2 iPhones in each, he had at least 5 people (if not more) that were basically going in with handfuls of cash and buying two iPhones at a time (the limit per person). Presumably, to sell for a profit elsewhere, it obviously works or he was extremely stupid and was blowing his lottery win in one day. We tried to take a photo but he saw us. #10waysDedication
3) Lots of people that buy Apple products don’t know what they’re buying, in fact even the Apple guy selling it didn’t know anything about the phone and just started showing features of iOS 8….
People are making money across the world
As well as people buying to resell there is a common thing (mostly in the US) where people will sit in line for a fixed fee per day, one guy was at the front of the queue since August 25th!
First guy came Aug. 25. Line-sitter said he got paid $3,400 for a week ...— Harvard Zhang (@harvardzhang) September 10, 2016
iPhone 7 line in NYC. Pls pay $300 for 13th spot+chair, end of queue. Pro line-sitter in 11th said it's a $3K+ job. pic.twitter.com/OVykKC1azU— Harvard Zhang (@harvardzhang) September 10, 2016
Harvard Zhang’s maths suggest the guy at the top of the queue will be in line for three weeks earning him $10,200 (£7,710).