As expected, soon after iPad 2 was launched officially in the USA, it arrived for sale in the infamous grey market of Hong Kong at almost double its original price.

As per The Next Web Asia, Kurt Lo who is widely known as the King of Hong Kong’s grey market, has already bought, received and transported two hundred units of iPad 2 via different couriers from New York, Chicago, San Francisco and Los Angeles. That is business at the speed of thought!

The difficult bit here is that it is quite challenging and costly to get hold of an iPad before it officially hits the market. The 16GB Wi-Fi only version of iPad 2 can set you back by around $500 in the USA. However, the same one is available for around HKD$7,980 (US $1,025 or £640) in Hong Kong. The highest end model , 64GB with 3G and W-Fi costs around US $11,800 (£7,300).

Now, the interesting part in all of this is that in some time, Hong Kong will become one of the cheapest markets to buy iPad 2. This trend has been consistently observed in all launches by Apple, including iPhone 4 which too was launched not a long time ago. However, people who just can’t wait to lay their hands on the newest gadgets, just cannot wait.

iPad 2 will be launched in the UK market on March 25 and if interested, you can pre-order yours from a select few stores. The price range varies from £329 to £714, depending on the place of purchase and the model.