If you have a weak heart, please don’t read ahead: The iPhone 6 Plus 128 GB is retailing at a whopping Rs 1.8 lakh ($3000) per piece in the grey market in India, and the smaller iPhone 6 is going for Rs 80,000 for the 64 GB version.
If you think the grey market sellers are fleecing people, don’t be under any illusions. In fact, the iPhone 6 and iPhone 6 Plus will cost significantly more than what the iPhone 5S did when it was launched, according to retailers.
The ‘fair value’, that is the price assuming a decent level of margin for the retailer, of the iPhone 6 plus in India is Rs 180,000 for the 128 GB version and Rs 160,000 for the 64 GB version. There is a 16 GB version as well, which is being valued at about Rs 90,000.
The actual prices when the model is officially launched would be slightly cheaper, especially at the higher end. However, they would fall within a 20% range of the current prices.
The fair value price for the iPhone 6 4.7-inch model in India is Rs 95,000 for the 128 GB version and Rs 90,000 for the 64 GB version. The fair value estimate for the entry level iPhone 6, with 16 GB of memory, is Rs 58,000.
These are the going market rates right now in the grey market, and can be used as a fair indicator of prevailing prices. However, the rates will come down over time, and will decline by the time when Apple officially launches the latest model in India.
The iPhone 6 is the latest from Apple and carries the distinction of having two different, and large, screen sizes. The Plus model has a size of 5.5 inches while the ‘normal’ model has a size of 4.7 inches.
The official India launch date for the phones is estimated at around late October, though these is absolutely no confirmation, official or otherwise, from Apple on this.
Readers should note that iPhones bought in the grey market do not carry warranties from Apple India and have to be shipped back to the US, from where they are bought, for replacement and free services in cases of problems.