Here's what I think:
I think very seriously that people who buy iPhones any more than a month after their release date is a little crazy. I've MADE money the last 2 iPhone upgrades. I just watch these boards and sell my iPhone a couple days before the new iPhone comes out for $600. I pay $300 for my new iPhone, I buy out my contract, and then I put $170 in my pocket.Why don't all of you do that? We're obviously the smarter people! We should be taking advantage of that! Lol
I like the theory, but doesn't it cost a lot to buy out the contract? There seems no room left to profit. If I were to buy an iPhone on contract here (instead of buying it outright which we do a lot here) its a contractual commitment for say AUD 2000 over 2 years. To buy it out from the contract after the first year just before the next refresh would cost about 1000 AUD, which is far more than what the market will pay for a second hand iPhone.