Advice...

genova35

macrumors member
Original poster
Jun 25, 2007
78
24
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.
 

genova35

macrumors member
Original poster
Jun 25, 2007
78
24
What are the risks? I guess I don't understand those...

As for appetite, I can wait.
 

Appl3FTW

macrumors 603
Nov 15, 2012
5,383
1,017
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.
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.
 

Blorzoga

macrumors 68030
May 21, 2010
2,555
65
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.
Well, the phone you bought will be locked. Who would buy a locked phone for $1200?

----------

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

nostresshere

macrumors 68030
Dec 30, 2010
2,640
239
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.
You do know that if you only paid "$399" you are still over paying your monthly service, right?
 

Ayr

macrumors 6502
Mar 8, 2014
266
0
What are the risks? I guess I don't understand those...

As for appetite, I can wait.
Risks include getting shafted on Craigslist.

Appetite is a reference to appetite to take risk as in with trading stocks or whatever commodity.
 

Appl3FTW

macrumors 603
Nov 15, 2012
5,383
1,017
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?
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?
 

genova35

macrumors member
Original poster
Jun 25, 2007
78
24
Ok...ok...ok...

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

Thank you all!
 

OneMike

macrumors 603
Oct 19, 2005
5,598
1,490
On Craigslist? Oh, I don't know. What could possibly go wrong?
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.
 

leenak

macrumors 68020
Mar 10, 2011
2,412
50
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.

actually isn't that losing money since a $399 phone would cost $850 full price?
 

Appl3FTW

macrumors 603
Nov 15, 2012
5,383
1,017
actually isn't that losing money since a $399 phone would cost $850 full price?
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.
 

leenak

macrumors 68020
Mar 10, 2011
2,412
50
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.
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.
 

Appl3FTW

macrumors 603
Nov 15, 2012
5,383
1,017
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.
Why is he paying 1250 + taxes? The transaction would be 1200 - (399+ taxes)= 777.
 

genova35

macrumors member
Original poster
Jun 25, 2007
78
24
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!
 

617aircav

Suspended
Jul 2, 2012
3,974
815
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.
 

Appl3FTW

macrumors 603
Nov 15, 2012
5,383
1,017
$400 for the original and then $850 for the replacement. He's losing money.
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:
 

Phone Junky

macrumors 65816
Oct 29, 2011
1,395
2,111
Sunshine State
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:
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.
 

Appl3FTW

macrumors 603
Nov 15, 2012
5,383
1,017
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.
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.