Grey Market iPad 2s Sells For Double Overseas

The iPad 2 may be sold out here, but it's not even for sale anywhere else in the world. So what do people do? Buy units here and send them to places like Hong Kong, where the $500 16GB Wi-Fi model resells for $1014.

What's also interesting is how the guy in Hong Kong got his units.

Amazingly, a retailer, Mr. Lo, who is the ‘master' of the gray market in Hong Kong, who distributed hundreds to thousands of iPhone 4s and iPads to China's gray market last year, has already received 200 orders before the launch, and he has prepared eight couriers in New York, Chicago, San Francisco and Los Angeles to hop on planes to Hong Kong after securing about 200 iPads and he will get the device to eager consumers by March 13, that's today. And he did it.

[MICgadget]