Group 1 - The iMoutai app experienced significant login difficulties, with users unable to access the purchasing page for Moutai, leading to speculation about server issues [2] - The market price of Moutai has seen a sharp increase, with a price difference of 150 to 200 yuan per bottle compared to the iMoutai purchase price [2][4] - The wholesale price of Moutai stabilized at 1665 yuan per bottle, while retail prices returned to around 1750 yuan per bottle [4] Group 2 - The resale prices on secondary trading platforms for Moutai purchased through iMoutai have risen, with sellers listing prices between 1650 to 1699 yuan per bottle, creating an arbitrage opportunity of 200 yuan per bottle [4] - The demand for Moutai has surged, with iMoutai reporting 6.28 million new users and over 2.12 million transactions in the first month after launching the 1499 yuan Moutai [4]

2026.01.05 本文字数：883，阅读时长大约2分钟 作者 |第一财经栾立 "i茅台"连日"秒空"的同时，抢到的平价茅台也开始陆续出现在各大二手交易平台上。 记者在部分网站看到，有些订单甚至上午刚刚抢到，下午就已经加价50元到100元不等挂网出售，出售者中既有自用者也有部分个人投机者。 平台上甚至有部分商户将代抢"i茅台"平价飞天茅台作为服务出售，叫价200元到300元/箱不等。 记者在与多位卖家沟通后了解到，部分卖家是抱着试试赚一票的心态，抽中后立即出售，或者抽中后只保留部分产品；但也有部分卖家本身就从事其他商 品倒卖生意，希望从茅台上套利。 如果按照一箱茅台8994元计算，一箱的收益率仅为3.3%到6.7%，并不算高。有酒商告诉记者，近期茅台线下市场需求并没有快速放大，因此抢购者中还 是有不少抱着投机心态的参与者。考虑到"i茅台"是官方渠道，能够保真，价格合适的话出货难度并不大。 在业内看来，个人投机需求会不会亏本，还要看未来茅台市场价格的走势情况，目前看短期内1499元官方指导价附近有较强支撑。根据多家第三方交易平 台数据，今日2026年飞天茅台的批发价散瓶微跌至1490元/瓶左右，原箱价格依然稳 ...

Core Viewpoint - The article discusses the recent surge in demand for "i Moutai," which has been selling out rapidly, and the subsequent appearance of these products on second-hand trading platforms at marked-up prices. This trend highlights the speculative behavior among some consumers and the dynamics of the Moutai market [3][5]. Group 1: Market Dynamics - "i Moutai" launched the 1499 yuan Flying Moutai on January 1, 2026, and has sold out for five consecutive days, indicating high demand [5]. - The current market recovery price for this batch of Moutai is between 1400 yuan and 1450 yuan per bottle, suggesting limited arbitrage opportunities for resellers [5]. - In offline and some instant retail channels, the market price for Flying Moutai ranges from 1550 yuan to 1600 yuan per bottle, still providing a slight profit margin for speculators [5]. Group 2: Speculative Behavior - Some sellers on second-hand platforms are reselling "i Moutai" bottles at a markup of 50 to 100 yuan shortly after purchase, indicating a mix of personal use and speculative intent [3][6]. - Certain merchants are offering services to help consumers secure "i Moutai" at prices ranging from 200 to 300 yuan per box, reflecting the speculative nature of the market [6]. - The profit margin for reselling a box of Moutai, priced at 8994 yuan, is estimated to be only 3.3% to 6.7%, which is relatively low, suggesting that many participants are motivated by speculation rather than substantial profit [6].