Guess what? The Apple 3G iPhone is in short supply and is pretty much sold out in all stores, but you can still pick one up if you haven’t already. The only catch is that it will cost you a premium. Many buyers are turning to eBay to get a hold of the hot gadget but when you hear about the prices they are paying, you’ll wonder if they are on crack.

After reading articles on several sites such as BetaNews about the price gauging on the 3G phone, I decided to monitor completed auctions on eBay; the varying websites were correct. The Apple iPhone 3G phones are selling anywhere between $800 and $1000 for a single phone.

Most of the people hawking iPhones are based in various parts of the United States, judging from the listings on eBay. A lot of them appear to be first-time eBay sellers, possibly trying to make a quick buck from the short supply and high demand for the device. A similar tack was taken by many individuals last year after the first iPhone launched.

A few of the sellers only have a couple of iPhones on hand. Many, however, are selling at least two dozen of Apple’s 3G handsets today, and some as many as 50 units or more.

I’m not sure where the sellers are getting their stash of the 3G but they are certainly making a killing on this item. For those of you still looking for an iPhone, you can check on eBay and for those of you looking to turn a profit, well eBay is certainly an outlet for you to use.