Why would someone pay 400,000 for and Iphone on ebay?

People can sell just about anything they want on eBay. And eBay takes a cut of the sale. The iPhone is not selling too well on eBay. Most bids are for the cost of the phone or less. In some cases the seller has to swallow the cost of shipping and taxes and actually loses money on the eBay transaction.

So these people wait in line for hours or days, hope to sell on eBay for a large profit and instead end up losing money, or returning the iPhones to the store for a refund. Don't you feel sorry for them..... not.

There are iPhones for sale at the Apple store right now. They are not sold out.

But then again would you want a crippled iPod? In other words, you need AT&T service just to play your music on the iPhone.

Personally, I wouldn't pay $40 for an Iphone on ebay, or anywhere else! I think they're exclusively on the AT&T network, for now, (which is now Cingular; and they're the WORST mobile company on the planet! I was with Sprint for ten years, switched to cingular, and was back with Sprint in two months!), secondly, the hype over the phone itself is over-rated; they're not nearly like the ads on tv... smooth scrolling, and lighting fast perfect internet! LOL you'll see if you get one! The internet is slow, and so are many of the features. Also, imagine how nasty your phone's gonna look, after you've had your greasy, messy, or dirty fingers all over the screen? That's why PDAs & smart phones come with stylis pens, since years ago! I might pay $40 for a mac notebook, but not much more. Anyone who does, probably even believes those PC/Mac ads on the television!

people want to be popular and the iphone is popular right now. i just got of ebay and saw the iphone hype. and there are crazy people out there who would love to get to be popular by having an iphone. so they go to all lengths to pay whatever the asking price. The seller is really smart and putting prices way more than retail price and the bidders are really stupid in spending so much more money than what it's worth. what is this world coming to?

people spend that much because they can, if i had millions of dollars just laying around, I would buy some crazy stuff

Well if they think someones gonna buy that thats their problem, its not really hurting anyone else. If someone does buy it then their an idiot :)

You should ask them. This a very good question.