UPDATE: New inventory will be in stock on Friday, July 11. There's no word on the precise time of day, so check back to the store early and often.
If you want to buy an iPhone 5 and don't have a renewal coming up through your cell provider, you may be in luck. It looks like Apple is selling refurbished iPhone 5s on eBay for a steep discount.
AppleInsider found a new store on eBay called Factory Outlet eBay Store. The iPhones sold there still aren't cheap - they'll will cost you between $449 and $499. But, that is still much cheaper than the retail price.
The gadgets are factory unlocked for GSM - so they'll work with AT&T or T-Mobile - and come with a full one-year Apple warranty.
The page doesn't specifically say that Apple is involved, but this wouldn't be the first time the company tried something like this to sell older models before a new gadget comes out. The iPhone 6 is coming out soon - find out what's new.
The move is likely an effort on Apple's part to diversify its inventory distribution of existing devices in the months leading up to this Septembers annual iOS device product launches. Apple made a similar move back in March of last year when it launched a Apple Certified Refurbished Products Store that sold refurbished iPads at $100 less than on Apple's own online store.
If you are thinking of taking advantage of this deal, then you should do it quick. That iPad sale last year only lasted a few months before the store disappeared. Click here to visit the eBay store.