A rumor was started by a posting on a Chinese auction site, taobao.com. It listed what appeared to be an iPhone 5 priced at the equivalent of $800. Then Twitter got a hold of the rumor and it absolutely exploded and became a trending topic. While some took it seriously others decided to have some fun with the idea of the phone costing so much, joking that the phone should be able to fly if it were going to cost that much.

Personally, this listing could’ve shown up on Apple’s official website and I would still tell you that it is absolutely false. Why? Given the billions of dollars the company has already acquired, it is safe to say that Apple has at least an ounce of business sense. I would hope this would be enough to prevent them from pricing the iPhone 5 the same as one of their higher end iPads and causing an absolutely catastrophic launch.

Actually Twitter was right in a sense. The only way Apple could justify that price is if iPhone 5 did end being able to fly and do other incredible things. When the new iPad came out with the retina display, Apple kept the price at what the last iPad had sold, so it makes you really wonder what Apple would have to add to it to make iPhone 5 that much more expensive.

This also isn’t the first time a rumor appeared involving Twitter and Apple. But while plenty of rumors are speculation, this one is just ridiculous and meant to provide comedy more than actual information. So consumers need not worry because if precedent is anything to go by, iPhone 5 will cost just as much as the 4S did on launch day.

But just for laughs, what would you like to see the iPhone 5 do if it was going to cost you $800?