A new gold rush is on and this time around, prospectors aren't squatting over streams with a pan -- they are squatting behind computers writing apps for the latest smartphones.

In fact, Yankee Group has had to double its mobile app revenue estimates from $537 million to $1.6 billion in 2010, with revenue reaching as high as $11 billion by 2014. Yankee's estimates fall well short of some other reports but the numbers being tossed around are staggering, regardless.

Not surprisingly, prices are going up as well. Last year, the average price of an app was $1.99. Today it's $2.85 -- a 43% jump. And since we are so willing to buy these apps, the quantity of paid apps has increased. Last year, paid app downloads represented 18% of all downloads. Today, it's up to one third. For Verizon Wireless subscribers, the figure is even higher. Two thirds of their apps are pay-to-play.

It's also important to point out that while AT&T and Apple are at the head of the pack when it comes to overall app revenues, Yankee Group believes "strong results from T-Mobile suggest that Android will be the next breakout smartphone app platform."

So it seems we should enjoy these relatively affordable apps while we can, because prices are on the rise and everyone wants to get a piece. Of course, it also doesn't help that we are so quick to throw our money away on all the garbage apps that clog these app stores.