Anybody else considering buying an iPad then selling on ebay for profit?

Discussion in 'iPad' started by mossme89, May 28, 2010.

  1. mossme89 macrumors 6502

    Jul 2, 2009
    Does anybody else think it might be a good idea to buy iPads then sell them on ebay? Even with the ipad being out for more than a month, they are still selling like hotcakes, way above the retail value on ebay.

    Here are some recent listings:

    Apple iPad Wi-Fi + 3G 16GB (SEALED NEVER OPENED)
    Price: $860 w/ 22 minutes left
    Retail value: $629

    Price: $580 w/ 37 minutes left
    Retail value: $499

    (Used 32GB Wifi iPad)
    Price: $655 w/ 3 minutes left
    Retail value: $599

    So, these are outrageous prices, but people are still paying! I'm tempted to buy an ipad from the apple store online (and get it in 7-10 business days), then sell it on ebay. Anybody else think this is a good idea?
  2. slpdLoad macrumors 6502a


    Jun 10, 2009
    They are just now starting to be available world wide, so if you do this, you're already late to the party, but can probably still make a small profit.
  3. mossme89 thread starter macrumors 6502

    Jul 2, 2009
    hmm... but there would likely be shortages out there. think i might still make a profit if i sell it by like June 10 (~10 business days + auction time)?
  4. iceman17 macrumors newbie

    Dec 5, 2008
    Denver, CO

    Keep in mind the fees you will pay on eBay/Paypal.

    To list the item, it will cost you about $3, then when the item closes, that will cost you $50. Also, Paypal will charge you 3%.

    So, if you sell a $729 iPad, which costs $760 after tax, you would also have $75 in fees, so you would have to get $835 at a minimum to just break even. The biggest market for these is overseas and shipping is a hassle as well. When all is said and done, you may make $20-$40, not really worth it in my opinion.
  5. mcdj macrumors G3


    Jul 10, 2007
    Looking at active auctions to gauge resale value is a waste of time. You need to search completed auctions, where you will find a wasteland of zero feedback bidders (good luck getting paid by them). The last auction you linked to was "won" by a zero feedback user.

    Once you weed out the deadbeats and shill bids, you will see that the vast majority of legit profits were in the $100 range, with higher profits being the exception, not the rule. And that was before the iPad went international.

    After spending much effort and time policing the auction and cancelling deadbeat bids, sifting through scam emails, paying eBay/PayPal fees, paying for packing materials, and time spent packing/shipping, you might make $50-$70.

    Unless you have an unlimited supply of iPads, which no one does, it hardly seems worth it to me.
  6. gtsipad macrumors member

    Apr 12, 2010
    I did something similar. I purchased a 16GB Wifi model in early April...used it for three weeks, then Craigs-listed it (at no cost) for about $135 more than what I was going to pay for a 32GB 3G model when they came out (which I did purchase and am extremely happy with). I must admit, I truly only got this price as the buyer had searched everywhere in South Florida, was on all the waiting lists, and was impatient. He drove 90 minutes and met me on my terms (public place with friends as backup). He wanted it for his wife really bad...I lucked out, and to a degree so did he. A win-win all around. :D
  7. gigaguy macrumors 65816

    Apr 19, 2010
    earlier on for ebay, yes, but now no, and there are fees. lots of ipad scams on ebay right now too. craiglist is better IMO.

    the real profit taking is almost over unless supply and demand continues to get way out of whack. personally I won't deal with foreign sales on ebay even for $200 profit.

    I purchased 2 ipads on craigslit, and 2 on ebay. one of the ebay ones was a scam, still negotiating thru paypal. I'm an ebay veteran so you never know. I even talked with the seller a few times before I even sent the money too. he had a good rating.
  8. ItsThatKush macrumors regular

    Apr 4, 2010
    West Palm Beach, FL
    to me this makes no sense. why would anybody pay $1,000+ for iPads? Just order it from Apple and wait a few days.

    I understand the iPhone because not everyone has AT&T and they want to buy it to unlock and use with T-Mobile, etc. But the iPad has no restrictions like that. Just get on the waiting list and get yours from the Apple Store.

    Only reason I can come up with is getting their iPad a few days early is worth overpaying by $100's of dollars. :confused:
  9. thedge18 macrumors member

    Apr 1, 2010
    SF Bay Area
    It seems like a golden opportunity, but it's really not. First, there are taxes, so you pay an extra 50-90 dollars up front. Then, there are eBay and paypal fees, which eat up another $60-80. There is also shipping, which many buyers expect to be included in the price since it is already so high. So any profit you may make is quickly wiped out. Finally, there are a lot of scam bidders out there who bid unnaturally high and never pay or pay with stolen funds, so you're stuck with the eBay fees – down $50. Of course, you can get that money back from eBay, but it takes a while.
  10. MimUK macrumors member

    Jan 31, 2005
    Can't see much of a profit being made really.
    I am selling my 1 month old US import 32GB WiFi for £100 less than UK RRP

  11. kevlong macrumors newbie

    Jul 3, 2008
  12. gwynne macrumors 68000


    Mar 11, 2010
    Before eBay became a smoldering wasteland, sure.
  13. notjustjay macrumors 603


    Sep 19, 2003
    Canada, eh?
    True that... sadly.

    If I turn out not to like my 16 gig + 3G iPad for whatever reason, I'll likely sell it locally, or here on the MacRumors marketplace rather than go back to eBay.
  14. Phatcat73 macrumors newbie

    Apr 6, 2010
    Rule of thumb is that ebay and paypal fees come out to about 10% of the selling price.

    Add to that shipping & some risk.

    Not really worth it. The only real winners are ebay/paypal.

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