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Even though the iPhone 3G launch didn’t go as smoothly as Apple had hoped, they still managed to sell over 1 million of the phones. Now that most Apple and AT&T stores are currently out of stock (and have lines forming for what little they do have), some people are really cashing in for their iPhone 3Gs on eBay, generally at least quadrupling their money.

The average 8GB iPhone is going for about $800-$900, while most of the 16GB models are going for well over $1,000, with one even topping two grand. And, as if paying these outrageous prices is not enough for the buyers, they are going to have to hack them unless they found an “unlocked” version due to Apple and AT&T’s new in-store-only activation policy.

So my personal advice to you is that if you managed to get your hands on an iPhone 3G on launch weekend, sell it now and buy four or five of them when they come back into stock. I know that I won’t convince anybody to actually do that, but it is the smart thing to do if you’re willing to wait a little bit to get your new iPhone anyway. But I don’t blame you if you can’t tear yourself away. I doubt I would be able to.

Via [Macworld]