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Possible Way to Make Money Selling the iPhone 3G..

Discussion in 'Making Money' started by blanko, Jul 21, 2008.

  1. blanko

    blanko Power Member

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    So, after Harro's post, I was trying to think of other ways to make money off the hottest cell phone, the iPhone 3G.

    This is what I came up with....if it would work.

    Att Wireless is offering the 16GB iPhone 3G for $300 WITH and new contract.

    I think they charge a penalty of $200 if you cancel your contract early.

    So, the iPhone would cost you $500 total.

    If you look on ebay now, the 3G is going for $800 or more.

    The only thing that might be an issue is....I don't know if this effects your credit score negatively, since your cancelling early.
     
  2. ninjagert

    ninjagert Registered Member

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    Yahoo answers to the rescue:
    hxxx://answers.yahoo.com/question/index?qid=20080624203854AAyYCbi
     
  3. unlimitedpostings

    unlimitedpostings BANNED BANNED

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    This actually isn't a bad idea. I don't think it would affect your score since you are paying the cancellation fee, which is following the contract terms. I wonder if there's anything in the contract about doing that just to get the phone and cancelling, where they might not allow it.
     
  4. ximscreamingx

    ximscreamingx Power Member

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    You should be able to get them wholesale (non contract) pretty soon. If you have the $$ available, you should have no problem getting some. Your margins will be much higher too since you won't be losing $200 a pop on cancellations.
     
  5. blanko

    blanko Power Member

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    Ha, show me where you can get REAL ones for wholesale??

    I believe these phones are pretty much sold out.
     
  6. scubaslick

    scubaslick Regular Member

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    Cancelling the account will have no effect on your credit rating. However, each time you sign up for a new account, a) you'll have to wait 30 days with each provider; the companies generally have an "open" account on their books until the end of the calendar month + 15 days (give or take). I know because of a bit of a problem with Sprint when I got my aircard. I used their 30 day free trial. I cancelled in about 10 days and tried Verizon. Cancelled them and went back to Sprint. Guess what: we can't give you another account for 30 days. I social engineered my way into a new account (plus a $100 discount for their poor service :) ) but could only get away with that a couple of times.

    b) they will do a credit check which does have a small impact on your credit rating. It's only a couple of points and only lasts for 6 months, but if you're going to make any serious cash off this method, you'll have to do it several times which really won't be possible unless you have multiple tax IDs or some such to allow you to buy them in bulk. Of course you also need the cash to pay off the contracts and you better hope they aren't perma-locked. Sprint for example still uses phones that can not be unlocked to other networks. I forget the terminology (GPRM vs. something else.)

    Anyway, a Sprint smart phone can't be taken to another carrier.

    So in short, it's a good idea, but probably not worth all the trouble for a few hundred bucks.
     
  7. a0rta

    a0rta Regular Member

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    Hum.. 500 $ total if canceling the contract. :)

    Get a couple of them. Sell them on Ebay for 200 $ but mention that they aren't unlocked.
    When the client contacts you angry as h*ll complaining that you have changed the pincode on the phone. Just tell them that yes and it did clearly say in the ad that they wheren't unlocked. Then you sell the pincode for another 600 $ to the poor bastard and you got a total of 800 $ for the iPhone. With ten of them you have made some easy 3 000 $ in profit ;)



    - disclaimer -
    This was pure ironi! Well.. It might work but I doubt anyone will pay another 600 $ for the pincode. ;)
     
  8. desirez28

    desirez28 Regular Member

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    Ok, all bros in here, I wanna selling Iphone in my country and I need at least 10 units iphone 3G 16GB, so anyone of you can make a deal with me? I'm now in Singapore and Malaysia. I need it asap. I will to meet you guys up for dealing the stock. :)
     
  9. infinite78

    infinite78 Newbie

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    How about if you sign up under a business account instead of an individual? Wouldn't you be able to get multiple phones? You could say that it is for your employees.
     
  10. scubaslick

    scubaslick Regular Member

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    Yes, and that would keep your personal credit from taking a hit if it was an established business with a D&B rating for example. But I think you'd run into trouble with store stock in any case.

    I haven't looked into it, but I'm guessing there would be a limit to the number of phones you can purchase at once at each store.

    Not to say there's not thousands to be made with this. But if you have the resources to make it work, you can probably use them more effectively in other areas.

    If you only have the resources for a couple of purchases, and really need to make like $500-$2000 in a couple of weeks, this might be a good plan.

    I emphasize MIGHT be a good plan. There's still any number of possible negatives to consider. For example:

    Can't sell the phones at all because your copy writing skills suck.
    EEE*bay Price drops below cost before you can offload them because thousands of people read this thread and do exactly what you're thinking of doing.
    New manufacturing agreement makes them available on the open market for less than you paid and you didn't know it was coming.
    Knock off/copy/new version comes out that's better and cheaper and smells like cinnamon rolls or money.
    etc
    etc
    etc



     
  11. GoldenTiger

    GoldenTiger Junior Member

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    Yeah, that idea itself is not bad, but if you want to do this, I recommend waiting after the 07/24. This is when the iPhone should be available for sale without contract based on the info I have (at least in Canada, dont know about USA, but should probably be around the same date).

    I dont have any info as to whether it would be sold on the "open market", or would still require an account with a carrier, although without contract.

    Prices should be around $600 for the 8GB model, and around $750-$850 ish for 16GB (without taxes, and again, in Canada, but I would guess USA prices to be similar).

    The only issue is that the phone is usually locked to the carrier, so unless an unlocking solution is made (took a few weeks with the 1st gen iPhone), an AT&T iPhone can only be used with that carrier, etc.

    So I wouldnt recommend jumping in and getting 10 units, and then getting stuck and having to sell them at a loss... Its not yet known what the eBay price will be once it is available without contract, so its recommended to wait those few days before trying this.

    Also, as it is an item in high demand, and of relatively high value, my guess is that the fraud rate is going to be quite high, so make sure you dont sell to some 15 year old wannabe-hacker moron (like those on The L3vel or whatever it was called) paying with a phished PP account, or some Nigerian scammer sending you a bogus money order, etc. Use common sense and practice good security measures.
     
  12. darkimus

    darkimus Junior Member

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    there are ways to get out of your contract without paying your cancellation fees if you didn't already know. here are a couple that i know of:

    1) If you move to an area that is not serviced by ATT. Kinda hard to find places that aren't now, but there still are a few cities left. I used to read on a cell phone forum about one town in particular that a lot of people use when getting out of their contract. If I remember correctly, it's some place in Iowa. Try googling it. When they ask why you're moving there, tell them it's to help take care of a sick relative cause they will ask you.

    2) Very similar to the first method. Tell ATT you are being deployed overseas for military duty. For example, tell them you're being shipped to Iraq.

    It might depend on the customer service rep you're talking to when trying to get out of your contract, but trust me. You can find one that will waive the fees for one of these reasons. If you get a pushy one, just call back or ask to speak with a supervisor.
     
  13. cmiddlet78

    cmiddlet78 Registered Member

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    Do you think I could still make money if it takes 10 to 21 days to get the phone after i order it.