Imported iPhone 5(s) are now avialable on Ebay.in where a 16GB model will start from a price of Rs. 57,900 to 60,000 and the price can go above Rs. 1 Lakh for the higher end model like the 64GB iPhone 5.The cost iPhone 5 internationally start from Rs. 38,000 to Rs. 45,000 in Indian currency. The expected time of release of iPhone 5 in India is around the last month of 2012 or the beginning of 2013 which also should not cost as much the current price on Ebay.
Ebay is a site where any seller can sell list their products so you have to be careful, check the sellers rating and clarify everything with the seller before you pay