In spite of all the hype about the future release of the iPhone 3G, models of first generation iPhones continue to command a high price on resale site like eBay.

eBay statistics reveal that for many unlocked, first generation iPhones, the bids were in excess of $600. Before it was discontinued, its retail price was at $499. I took a look at  eBay  and found unlocked iPhones priced at $540.00.

Apple shares an ambivalent relationship with the iPhone unlock market. Entrepreneurs find this market lucrative since these phones act as carrier agnostic in foreign shores. Apple loses revenues worth millions in term of subscription derived revenue. However, the popularity of the iPhone has risen due to this grey market. People who own unlocked iPhones try technology ahead of their times, hence they set a benchmark for their peers. They influence the buying decision of their peers. Apple can take a cue from them and make market assessments without additional costs.

“It’s a cat-and – mouse game,” Jobs said in September last year according cnet news, referring to iPhone’s unlock market. “ We try to stay ahead. People will break in, and it’s our job to stop them from breaking in.”