Why are people paying so much for an iPhone 5 on eBay?

I saw that you can pre-order the iPhone 5 at the Apple Website for $200+
but people are paying $1000+ on eBay. Why is that? Why don't they just pre-order it themselves?

Seeing as it hasn't been released yet, I'd be really apprehensive about spending! K for one on ebay. Three are going to be stories in the news next week about scams, I can assure you.
I'm waiting until November as if they are buggy, they will know by then.

People are willing to pay retail price for iPhones because it does not lock them into a two year contract. Also, if you pay retail price, and you have unlimited data, you are able to keep it. If you are using an upgrade, it will cancel the unlimited.

Overseas ordering as it isn't available there yet? Just guessing.

It's a combination of 2 things -- preorders are sold out in a lot of places, and some people have more money than brains (or patience).