10/14/2011 04:28 pm ET Updated Dec 14, 2011

Spots In iPhone 4S Lines Sold On Craigslist

Apple product launches are historically insane events, with long lines, overnight waits, and the looming specter of sold out inventory. By getting in line for the 4S early, and then selling their spots, some entrepreneurial sorts have come up with a way to make money off of the fact that people love gadgets, but don't necessarily want to wait in line with fellow gadget lovers in order to buy them.

As PC Magazine reports, 19-year-old Steve Padula got in line at a Staten Island Apple store Thursday afternoon, even though he had already preordered the 4S the week before. According to an ad he posted in the "for sale/wanted" section of Craigslist, Padula was hoping to sell his supposedly covetable spot to the highest bidder.

The ad reads in part,

The iPhone 4s comes out tomorrow and lines will be crazy I selling my spot in line. So guarantee yourself on iPhone 4s by getting the first spot in line from me. Price is negotiable.

Padula didn't list a price, instead offering interested parties the opportunity to score a deal on a spot in an iPhone line. But others have put a premium on their spots.

Another Craigslist posting in New York advertised two spots for $700 each at the SoHo Apple store. One Twitter user even reported that an early bird at a New York Apple store was hawking his place in line for $100.

Meanwhile, customers placing online orders for a new iPhone from AT&T are being told to expect a wait of 21 to 28 days before the order ships.

In the past, people have willingly shelled out a pretty penny for a chance at a new iDevice on the day it launched. Time reports that when the iPad 2 was released earlier this year, Amanda Foote stood in line for 41 hours before selling her spot to an app developer for a whopping $900. An amount that isn't even unprecedented on the Apple spot-selling market. According to the New York Post, spots were going for $1,000 each when the iPhone 4 launched. Suddenly, waiting a couple weeks seems a lot more doable.

Check out photos of crowds at Apple stores around the world on the morning of the iPhone 4S launch (here), and view our slideshow (below) of 13 things you need to know about the new iPhone to see what got people so excited.