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HP TouchPad's Second Life on eBay

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Step One: Buy something, anything, that's sold out.

Step Two: Flip it on eBay with a ridiculous markup.

Step Three: Profits. Insane profits.

This tends to be the general rule for eBay riches. From Wiis to iPads to Beanie Babies, the demand for any type of product is compounded by its lack of availability.

But who'd would've guessed the same would apply to the HP TouchPad?

After prices for the largely ignored 16GB TouchPad fell to a mere $99, units began flying off shelves and into the hands of indiscriminate buyers. Buyers who paid no mind to the fact that the iPad 2 is twice as fast even while running webOS.

And as soon as the TouchPad wasn't readily available, the eBay Scalpers swooped in and began posting the devices for as high as $300.

Covering the shocking sales bonanza, PCWorld's David Daw writes, "So far demand seems to be exceeding supply even at these prices as prospective buyers also took to Craigslist to find a TouchPad connection. One user in New Jersey was accidentally bombarded by offers from other buyers when he wasn't clear enough that he wanted to buy, not sell, a TouchPad."

And if you think $300 is high, Hack N Mod is offering a whopping $1,500 bounty for anyone who can hack the TouchPad so it would run the Android OS.

Given the state of HP, it may want to accept the challenge.

(See also: BlackBerry Ad Accidentally Features, Promotes Android and Apple's iPad 2 Twice as Fast as HP's TouchPad -- Even When Running webOS!)

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POSITION:  No positions in stocks mentioned.