Ouch! Forty Bucks Lost In iPhone Re-Sell

July 25, 2007

With all the media coverage, long lines, and people struggling to get their hands on one, many wannabe profiteers assumed that when the iPhone was for sale on Craiglist for $1,500 it would sell in no time. Guess again. When a hopeful iPhone profiteer expected to make a few bucks by selling the 8GB phone on eBay (with a start price of $100), they actually ended up losing $40 after shipping, insurance and eBay/PayPal fees.

The Mercury News reported that on the last day of the five-day auction, the price finally inched its way to $300 (still $300 under the original price tag) and eventually got up to $600 and then $665. Definitely a far cry from what the seller had hoped to get!

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13 Comments

Daddisgrl 5 years 41 weeks

Glad people aren't falling for it and hope that we see the same with other products that resellers hope to cash in with!

tdamji 5 years 42 weeks

i'm sad for them, but i agree with macgirl at the same time. there were a ton of people in line to get a wii when i did, that clearly were going to re-sell it.people who went in line a few minutes after them couldn't get one! so unfair. everyone should be able to buy a wii if they want one!!

Supermom 5 years 42 weeks

I totally agree with Macgirl...

Mainly Obsessed 5 years 42 weeks

Yeah macgirl, I totally agree. Resellers have totally soured the releases of new electronics. I finally got a Wii last week at a gamestop, but I was seriously considering buying one of the overpriced ones on eBay or Amazon. And, no surprise here, most of the people waiting in line before a store opens on a Sunday morning are resellers just trying to get their hands on one so they can make a few bucks.

conanho 5 years 42 weeks

this phone is all the rage, and i like it, i'll even go so far as to say i really like it, the problem is, it is expensive, and i already have an ipod and a cell phone. i have over 11,000 songs and 10 movies...how would i get that on my iphone?? i never hope that people do badly, but do we really need to be ripping people off for something they could get elsewhere? and at what point do we stop feeling sorry for the person who is overpaying for something because they didn't do enough research to find it at another place for less money?? so to you i ask...the chicken or the egg???

conanho 5 years 42 weeks

macgirl 5 years 42 weeks

This makes me soooooo happy. I hope that anyone who stood in line to resell the product at a ridiculous mark up loses money. I have friends and family that are still paying marked up prices to get a Wii that should only be $250. Oddly this is probably the first time Apple has ever made enough product to fill demand. I just checked the Apple store iPhone availability list and it looks like most of their stores have stock.

macgirl 5 years 42 weeks

clarient 5 years 42 weeks

There was a decent chance he actually would have made a great profit - typically whenever something this hyped up is released, there's not enough of the product to go around.Unfortunately, the supply was greater than the demand, and he lost.

clarient 5 years 42 weeks

There was a decent chance he actually would have made a great profit - typically whenever something this hyped up is released, there's not enough of the product to go around. Unfortunately, the supply was greater than the demand, and he lost.

redsugar 5 years 42 weeks

the guys an idiot

redsugar 5 years 42 weeks

the guys an idiot

SkinnyMarie 5 years 42 weeks

Probably would have been cheaper to hop on a southwest flight to a not so grand city (PITTSBURGH) where no one was in line to get the Iphone. We still have plenty of them here people!

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13 Comments

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