New iPads Fetch $1600 on the Chinese Grey Market

The officially goes on sale today and lines of fans and scalpers are already outside stores waiting to buy the iPad, but if you don’t want to contend with the crowds you could always head to the grey .

The grey market for Apple products is huge in China, with the soon to launch new 4G iPad on it’s way electronics markets across China have been stocking up on grey market iPads.

The 4G iPad’s available on the Chinese grey are available in all storage sizes and in either Wi-fi only or 4G LTE, however there is a premium for these pre launch Apple tablets.

Customers are currently expected to pay from HK$6000 - HK$13000, which converts to $773 - $1675 for the new iPad!

Despite these prices being almost double that of the U.S market prices, Chinese grey market vendors are having no problems shifting the latest iPad to eager customers.

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