Overseas, sites including TechSpot.com have found iPhone X phones being auctioned on eBay for between A$20,000 and A$60,000.
Many fans of Apple's new smartphone may be tempted to consider buying the phone from eBay given Apple has been inundated with pre-orders for the iPhone X.
Some of the listings on eBay could also be fake, and consumers are being warned to be aware of this too.
Some customers have been less than impressed as they face a lengthy wait for their smartphones.
Even Apple's co-founder Steve Wozniak has recently revealed he will not be buying the iPhone X at launch.
"I'm just worried about what it provides me," Wozniak told CNBC.
"I'd rather wait and watch that one, and I'm happy with my iPhone 8...which is the same as the iPhone 7, which is the same as the iPhone 6."
CNBC reports Mr Wozniak also expressed concern that new featureson the iPhone X such as Face ID would work the way they are designed to.
The technology giant launched pre-orders in Australia on Saturday.
Angry customers took to social media, complaining that they had been told shipping times for their new devices would be around four to five weeks.
Other fans complained about difficulties in getting into the Apple store to pre-order the phone.
Choice spokesperson Stefanie Menezes told News Corp Australia that consumers who were desperate to get the iPhone X must do their homework before bidding for one on eBay.
"It can be very tempting to shell out extra money for the latest tech gadget on the market but consumers should do their homework before parting with their hard-earned cash," she said.
Menezes also warned consumers that while they might be guaranteed to get the phone on time, it might not be the best deal on offer.
"Just because there's a lot of hype doesn't mean you're guaranteed to get a great deal through third-party sellers," she said.
"If you can't afford to pay more for an early purchase, you might be better off waiting till the product goes on sale through the official retailer."
She also said online shoppers can follow these important tips:
• Check the trader's contact details and look for evidence of a physical address and phone number
• Read the terms and conditions on the site, and check the seller's policy on refunds and returns
• Make sure you know exactly how much you're paying before parting with your cash, look at shipping costs and any additional fees
• If you're buying products from overseas, consider the exchange rate and think about whether there are any compatibility or product safety implications
"If things go wrong, you can try to get a charge-back as soon as possible if they purchased via credit card or seek a refund via PayPal's dispute process," Ms Menezes said.
"Consumers can also try to resolve the problem through Ebay's internal dispute resolution process."
