Apple’s much awaited iPhone 5 will generate up to three-fold profit on trading sites like eBay during the six weeks following its launch, an economist predicted.

According to a study published by economy analyst Professor Michael Waterson, of the University of Warwick, the price of the fifth-generation iPhone will be driven up by so-called ‘tech snobs’ who wist to have the next-generation model as soon as it is out.

The study predicted that demand for the potential iPhone 5 will be replicated on eBay, where prices of the device will rocket shortly after its release. That would create a good opportunity for savvy eBay traders to grab the device and generate a tidy profit.

Apple fans often provide a big boost to Apple products on eBay, maily due to the lack of stock after a product’s launch.

As far as the iPhone 4 is concerned, gadget hungry fans were forking out between £600 and £1,500 during the six months after its launch, considerably higher than the retail price of £499 to £599 in stores.

Commenting on the topic, Professor Waterson said, “The extent of eBay activity on this product was extraordinary, with total transactions amounting to around £1.5m for 2,183 sales.”

Meanwhile, different reports are citing unnamed sources claiming that AT&T vice president has informed employees that the iPhone 5 would be released in early October.