China is going crazy for gold. Not only for the actual precious metal but also for anything and everything that can be gilded, like phones, cars and even bathtubs.
One recent piece of evidence: Apple’s (NASDAQ: AAPL) newest iPhone 5s sold out in the gold color just a day after pre-orders were made available in mainland China and Hong Kong. According to a report by the Wall Street Journal, demand for the gold iPhone was so high that Apple asked suppliers to increase production of the golden phone by one-third. China’s e-commerce website Taobao, similar to eBay, began selling gold iPhone stickers that can give you the gilt upgrade -- or at least the semblance of it, for less than $2.
Others, however, aren’t satisfied with the stickers or even the gold iPhone, and U.K.-based ZG High Ticket Item Co. is one business that's trying to capitalize on that. “We have sold some 18-karat gold-plated iPhone 5S to Chinese tourists,” a Macau-based ZG rep told the Wall Street Journal. The gold-plated iPhone runs from $5,513 to $6,282, which is quite a jump from the regular price of the iPhone 5S in Hong Kong and China, roughly $721 and $864, respectively.
But the grab for gold doesn’t stop there. Inventory of gold-colored everything has been spotted all over China. Here’s a look at some of the crazier gold items that have been seen in China:
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