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Advice...

genova35

genova35

macrumors regular
Original poster
Jun 25, 2007
127
255
For kicks, I posted an ad on Craigslist to sell my Plus 64GB Space Gray when it comes on Friday. I have never done it before and I probably will not, but some guy just offered me $1200....I mean what?! I can wait a couple of weeks for another if it makes sense

So, if I upgraded my phone for $399...and sell for $1200 then I would have to buy an another one with $800 left. I assume this would be full price not sure if that is breaking even or what. Has anyone done this before?

Tips, advice or should I just forget it and enjoy my new phone.
 
What are the risks? I guess I don't understand those...

As for appetite, I can wait.
 
genova35 said:
For kicks, I posted an ad on Craigslist to sell my Plus 64GB Space Gray when it comes on Friday. I have never done it before and I probably will not, but some guy just offered me $1200....I mean what?! I can wait a couple of weeks for another if it makes sense

So, if I upgraded my phone for $399...and sell for $1200 then I would have to buy an another one with $800 left. I assume this would be full price not sure if that is breaking even or what. Has anyone done this before?

Tips, advice or should I just forget it and enjoy my new phone.
Click to expand...

You probably paid 422.94 for your purchase. So 1200-422.94= 777.06.
The phone out of pocket is 849+tax= 899.94. So actually you have 899.94-777.06= 122.88 cost to pay if you sell the phone. The problem is the phone is sold out until November so you're basically paying for your patience and sanity at this point. How much are you willing to wait and stay sane?

I can't do it myself. I was about to go ballistic when I waited a month for the 5s. I want it now.
 
genova35 said:
For kicks, I posted an ad on Craigslist to sell my Plus 64GB Space Gray when it comes on Friday. I have never done it before and I probably will not, but some guy just offered me $1200....I mean what?! I can wait a couple of weeks for another if it makes sense

So, if I upgraded my phone for $399...and sell for $1200 then I would have to buy an another one with $800 left. I assume this would be full price not sure if that is breaking even or what. Has anyone done this before?

Tips, advice or should I just forget it and enjoy my new phone.
Click to expand...

Well, the phone you bought will be locked. Who would buy a locked phone for $1200?

----------
Appl3FTW said:
You probably paid 422.94 for your purchase. So 1200-422.94= 777.06.
The phone out of pocket is 849+tax= 899.94. So actually you have 899.94-777.06= 122.88 cost to pay if you sell the phone. The problem is the phone is sold out until November so you're basically paying for your patience and sanity at this point. How much are you willing to wait and stay sane?

I can't do it myself. I was about to go ballistic when I waited a month for the 5s. I want it now.
Click to expand...

You do realize that sales tax rates are different in each state, don't you?
 
genova35 said:
For kicks, I posted an ad on Craigslist to sell my Plus 64GB Space Gray when it comes on Friday. I have never done it before and I probably will not, but some guy just offered me $1200....I mean what?! I can wait a couple of weeks for another if it makes sense

So, if I upgraded my phone for $399...and sell for $1200 then I would have to buy an another one with $800 left. I assume this would be full price not sure if that is breaking even or what. Has anyone done this before?

Tips, advice or should I just forget it and enjoy my new phone.
Click to expand...

You do know that if you only paid "$399" you are still over paying your monthly service, right?
 
genova35 said:
What are the risks? I guess I don't understand those...

As for appetite, I can wait.
Click to expand...

Risks include getting shafted on Craigslist.

Appetite is a reference to appetite to take risk as in with trading stocks or whatever commodity.
 
Blorzoga said:
Well, the phone you bought will be locked. Who would buy a locked phone for $1200?

----------



You do realize that sales tax rates are different in each state, don't you?
Click to expand...

You do realize I'm giving him a sample scenario and I'm not a mind reader where he lives right? And you do realize that if OP is smart, he would calculate tax calculation based on his location right?
 
Ok...ok...ok...

I am keeping my phone. Yeah...seems too crazy and not worth the stress.

Thank you all!
 
uchosen said:
On Craigslist? Oh, I don't know. What could possibly go wrong?
Click to expand...

I've sold on Craigslist for about a decade and never had an issue. Sure it can happen, but common sense helps minimize these risks.
 
genova35 said:
For kicks, I posted an ad on Craigslist to sell my Plus 64GB Space Gray when it comes on Friday. I have never done it before and I probably will not, but some guy just offered me $1200....I mean what?! I can wait a couple of weeks for another if it makes sense

So, if I upgraded my phone for $399...and sell for $1200 then I would have to buy an another one with $800 left. I assume this would be full price not sure if that is breaking even or what. Has anyone done this before?

Tips, advice or should I just forget it and enjoy my new phone.
Click to expand...


actually isn't that losing money since a $399 phone would cost $850 full price?
 
leenak said:
actually isn't that losing money since a $399 phone would cost $850 full price?
Click to expand...

But he's getting paid 1200. All in all it will cost him 122.88 to buy the phone out of pocket... Versus 399+ tax. I think he would make a good deal. The problem is he needs to wait. He's saving 300.06 in the process tho.
 
Appl3FTW said:
But he's getting paid 1200. All in all it will cost him 177 and some change to buy the phone out of pocket... Versus 399+ tax. I think he would make a good deal. The problem is he needs to wait.
Click to expand...

I get what you are saying but I guess it also depends on taxes. So he will pay $1250 + taxes - $1200 for a phone. I still wouldn't do it myself for reasons other people have said.
 
leenak said:
I get what you are saying but I guess it also depends on taxes. So he will pay $1250 + taxes - $1200 for a phone. I still wouldn't do it myself for reasons other people have said.
Click to expand...

Why is he paying 1250 + taxes? The transaction would be 1200 - (399+ taxes)= 777.
 
Yeah...I am out.

Keeping and enjoying my Plus.

Thanks again all...but it does go to show that someone is actually willing to pay $1200 for a phone. Yikes!
 
Op, fact that you are asking this question tells me you dont know what you are doing. CL risk can be reduced to a minimum with proper thinking and planning. Meet up in a very public place with people and cameras. Have a buddy with you and please verify the currency is not fake. In my opinion the buyer has the higher risk than the seller when done right. I will never meet a buyer at his place of choosing, he must come to me.
 
Phone Junky said:
$400 for the original and then $850 for the replacement. He's losing money.
Click to expand...

Wrong.

he's paying 399+tax= 422.94 now (out of pocket). if he sells it he will make 1200-422.94 = 777.06. so let's go back to day 1. now he has 777.06 to spend towards the out of pocket new phone which is 849+tax = 899.94.

ok now, 899.94 (cost of the out of pocket phone) - 777.06 (money from the sale) = 122.08 total cost for OP.

so again, 422.94 (original out of pocket expense) - 122.08 (expense with CL sale) = 300.86 savings for OP.

:cool:
 
Appl3FTW said:
Wrong.

he's paying 399+tax= 422.94 now (out of pocket). if he sells it he will make 1200-422.94 = 777.06. so let's go back to day 1. now he has 777.06 to spend towards the out of pocket new phone which is 849+tax = 899.94.

ok now, 899.94 (cost of the out of pocket phone) - 777.06 (money from the sale) = 122.08 total cost for OP.

so again, 422.94 (original out of pocket expense) - 122.08 (expense with CL sale) = 300.86 savings for OP.

:cool:
Click to expand...

You're wrong. He's spending an EXTRA $122 for the phone. If he spends $400 the first time and $850 the second time, he would have to sell the phone for $1250 to break even. (Taxes excluded) the only way to make money on this deal is if he DIDNT WANT the phone and was staying on contract anyway so didn't care if he used his subsidy.
 
Phone Junky said:
You're wrong. He's spending an EXTRA $122 for the phone. If he spends $400 the first time and $850 the second time, he would have to sell the phone for $1250 to break even. (Taxes excluded) the only way to make money on this deal is if he DIDNT WANT the phone and was staying on contract anyway so didn't care if he used his subsidy.
Click to expand...

so you're telling me that paying 122.06 is worse than paying 422.94 out of pocket from day one?

WOW.. I can't believe I have to explain these to people. ECONOMICS people.
 
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