An auction for the iPad was held yesterday morning at a consumer electronics show in Kaohsiung, drawing a huge crowd of tech fans. And the auction was eventually won by a bid of 26,000 NT, which is more than 70% higher than the product's list price.

It isn't the showgirls that are drawing in the crowd at Kaohsiung City's 3C electronics exhibition this year.

Instead it's an iPad auction, which has drawn in a frenzied crowd of people trying to outbid others.

Starting out at NT$1, the price quickly rose up to the thousands then ten thousands.

At last, a man by the surname of Huang finally managed to outbid all the others at a whopping NT$26,000.

But as the set market price of the iPad is only NT$15,500, Mr. Huang has to pay an additional NT$10,000 for the iPad.

Mr. Huang says it's all right because he's checked online, and the ones available online are priced from NT$20,000 up to NT$30,000, without even a warranty.

He says at least at this event, he can get a better guarantee of quality while taking part in such an exciting event.