The exact origin of the rumor is unclear. According to IBTimes, gamenguide.com features a listing on taobao.com, a Chinese auction site, that shows a photo of what is purported to be the iPhone 5 for the equivalent of $800 to $1,050.
Of course, Apple is keeping any details about a new iPhone close to the vest. Apple has not confirmed numerous reports that peg an announcement relating to the new phone at Sept. 12. An $800 iPhone would be a big jump in price. The current top-of-the-line iPhone 4S with 64 GB of memory sells for $399 with a wireless service plan.
#800DollarsForAniPhone It better be doing my homework for me… and show ALL the work!
— Timotheus Harper(@Tedd_2Fearless) August 2, 2012
#800DollarsForAniPhone That Hoe BETTER Catch Itself When I Drop It…
— John Da Kid (@John_Da_Kid) August 2, 2012