Ebay shoppers can be among the first to get their hands on Apple's new iPhone 4 - if they don't mind paying markups of 400% or more.

Numerous Ebay sellers are hawking the new smartphone at prices approaching $1,000. For instance, an Ebay merchant sold a 32GB black iPhone 4 for $930 early Wednesday after receiving 11 bids. 16GB models were selling for $700 or more.

Officially, the 16GB model is priced at $199 while the 32GB model is listed at $299. Both prices require a two-year AT&T contract. It's not clear how, or if, Ebay sellers managed to order an iPhone without also signing up for the contract - which would nullify their profits.

Many sellers may be existing AT&T customers who've purchased iPhone 4 through their current contracts and not activated the new device. Some sellers were advising potential buyers that the phone would not ship with a SIM card.

Full story: InformationWeek