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THIS IS MADNESS: This Gold iPhone Just Sold On eBay For $US10,100

A rare gold iPhone 5S just sold on eBay for $US10,100 after 51 bids.

The sale reflects a kind of insanity that has set in among some Apple fans over the gold version of the 5S, which instantly sold out when it launched on Friday after very few were made available for sale.

We told you earlier today that scalpers in China were selling gold iPhones for twice their face value, and another gold iPhone seller on eBay was asking $US4,600 for a three-pack.

But this iPhone (pictured) went from being bid up in increments of $US10 or $US20 over the weekend, to bids of $US100 extra or more.

On the last day of bidding, buyers stalled at around $US2,500. But then one bidder offered a staggering $US10,000 — only to be outbid at the last minute by someone offering $US100 more than that.

The winning bidder — “y***9” — has a 98% satisfaction rating on eBay and a fairly long record of buying mobile phone accessories.

Here’s the top of the bidding history:

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