It looks like Vietnam’s rich may be using some of their rhino horn money to obtain the world’s newest status symbol, the iPhone 5s. Prices of the phones are skyrocketing in Vietnam with the coveted gold version fetching up to VND33 million.

The costs of Apple’s flagship product have always been a bit high in Vietnam since they are all imported and there are few, if any authorized sellers. But with the news that a Vietnam Airlines flight attendant was arrested in Hanoi last week for attempting to smuggle in 50 of the new phones, we had a feeling that these would be the hottest yet.

The gold version of the phone sold out almost immediately world-wide hence the ridiculous prices. The more ‘modest’ black and silver versions are going for VND10 million less.

You can get all the details about the price gouging around Vietnam in this piece from Tuoi Tre.

So the question remains, should you run to Singapore to gobble up some iPhones and sell them in Vietnam?

We have a feeling that customs agents will be on the lookout for them and will likely fine you VND1 – 2 million per phone if you bring in more than 2 or 3.

But, with the market as hot as it is, it might not be the worst idea.

In anyone has had experiences with smuggling bringing iPhones into Vietnam, let us know in the comments below!

[Tuoi Tre]