Can't fathom why people pay ridiculously high prices for a new iPhone?

[michaelmac3]

Now, I paid $500 to early upgrade to my iPhone 5, but after sweet talking AT&T into crediting me back $217 of the early upgrade fee and selling my 4S, I actually ended up profiting $50 from the deal.

I have my iPhone 5 listed on ebay right now and within 2 hours the bids are already up to $810. I thought you could just go buy one outright for $600 at an Apple store/retailer. Any ideas why people would be paying these extreme prices? Is it just because they're not in stock other places and they are so desperate to have it that they'll pay hundreds of dollars more?

However, I'm obviously not complaining one bit. I'll GLADLY take the money and skip merrily all the way to the bank. But it just peaks my curiosity why people do it. Thoughts?

 

[KittyToy]

Simple cause people like u are buying phones u don't want just to sell them on eBay to make a profit

 

[michaelmac3]

Simple cause people like u are buying phones u don't want just to sell them on eBay to make a profit

False. I bought it because at the time I wanted it. I found over the next few weeks it wasn't worth the upgrade for me. THEN I decide to sell it on ebay and make a profit. Pretty sure that's why most people sell their belongings, they don't want them anymore and want to make a profit.

 

[erratikmind]

Now, I paid $500 to early upgrade to my iPhone 5, but after sweet talking AT&T into crediting me back $217 of the early upgrade fee and selling my 4S, I actually ended up profiting $50 from the deal.

I have my iPhone 5 listed on ebay right now and within 2 hours the bids are already up to $810. I thought you could just go buy one outright for $600 at an Apple store/retailer. Any ideas why people would be paying these extreme prices? Is it just because they're not in stock other places and they are so desperate to have it that they'll pay hundreds of dollars more?

However, I'm obviously not complaining one bit. I'll GLADLY take the money and skip merrily all the way to the bank. But it just peaks my curiosity why people do it. Thoughts?

Human nature for the most part . . . Liken to many other high ticket items.

 

[darster]

Why even do that? I just wait for Best Buy to offer a 20% discount on itunes electronic gift cards. Order $2000 worth, then sell the card numbers on ebay for full price. Make a quick $400 profit, sold my Razr maxx, and basically my 32GB iPhone was free.

 

[jkim3691]

False. I bought it because at the time I wanted it. I found over the next few weeks it wasn't worth the upgrade for me. THEN I decide to sell it on ebay and make a profit. Pretty sure that's why most people sell their belongings, they don't want them anymore and want to make a profit.

What? Selling it won't make it worth the upgrade either since you signed into another 2 years...Might as well keep it.

 

[michaelmac3]

What? Selling it won't make it worth the upgrade either since you signed into another 2 years...Might as well keep it.

By worth the upgrade, I didn't mean wasting an upgrade to get it, I meant switching to a different phone. With AT&T being the only carrier around here that works meaning being locked into a contract is a non-issue, and the insane profit I'll be making off of selling it, I find it worth it.

 

[Mrbobb]

The guy who's bidding 810 is from overseas with zero eBay count and when he gets it he wants to send u a check.

 

[Applejuiced]

I have my iPhone 5 listed on ebay right now and within 2 hours the bids are already up to $810. I thought you could just go buy one outright for $600 at an Apple store/retailer. Any ideas why people would be paying these extreme prices? Is it just because they're not in stock other places and they are so desperate to have it that they'll pay hundreds of dollars more?

Because the base 16GB i5 model is $649 plus tax without a contract. In some states that comes out to close to $700 full price with taxes.
Some like to pay extra to get it now and not have to wait a month or more.
After shipping, ebay fees and paypal fees I wouldnt call it an insane profit. But maybe $300-400 is an insanse amount of money to you.
Also count in the risk you're taking selling it on ebay and taking a chance of getting scammed by a shady buyer.

 

[SouthsideJohnny]

On the otherhand, I could buy a house for $4,000 at a tax sale, resell it for $80,000 and spend the winter using my iPad on the beach in So Florida.

 

[KittyToy]

Ok I wasn't judging just saying. But I guess that's why people are already selling ore-orders of the ipad mini. I see bids already in the $400 rage just for the base model. Goes to show People are will to sell a kidney just to buy anything apple puts out!

False. I bought it because at the time I wanted it. I found over the next few weeks it wasn't worth the upgrade for me. THEN I decide to sell it on ebay and make a profit. Pretty sure that's why most people sell their belongings, they don't want them anymore and want to make a profit.

 

[Johnnyiphone5]

Yep. Nothing's better for the scammer than to get a free iphone5 and spend someone else's 900 bucks to do it. Been burned too many times. At a minimum require a valid PayPal shipping address and a minimum feedback score.

 

[michaelmac3]

Because the base 16GB i5 model is $649 plus tax without a contract. In some states that comes out to close to $700 full price with taxes.
Some like to pay extra to get it now and not have to wait a month or more.
After shipping, ebay fees and paypal fees I wouldnt call it an insane profit. But maybe $300-400 is an insanse amount of money to you.
Also count in the risk you're taking selling it on ebay and taking a chance of getting scammed by a shady buyer.

Ahh, didn't know it was that much. But as a broke college student the $400 profit is more than welcome. The only reason I was able to afford the i5 in the first place is because I had just gotten some birthday money and sold my 4S. An impulse buy that I ultimately ended up regretting, live and learn I suppose. Glad to be an American where I'm free to make ignorant decisions, change my mind, and fix it. Hasn't turned out all bad, ended up breaking even at first and now after the 4S I bought and the final value fee and such are taken out, the $300-$400 profit will be nice. And I've also sold about 7 phones on ebay prior to this one, have my buyer restrictions set pretty strict and only accepting payment from confirmed paypal users. Thanks for the heads up though, I feel a lot of people aren't that careful.

Yep. Nothing's better for the scammer than to get a free iphone5 and spend someone else's 900 bucks to do it. Been burned too many times. At a minimum require a valid PayPal shipping address and a minimum feedback score.

On top of it! Like I said, I've become pretty good at spotting a scam on ebay. Not that my buyer restrictions make it very easy to scam me anyway.

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Ok I wasn't judging just saying. But I guess that's why people are already selling ore-orders of the ipad mini. I see bids already in the $400 rage just for the base model. Goes to show People are will to sell a kidney just to buy anything apple puts out!

Yep, Apple has a way of captivating large amounts of people to buy their products as soon as possible. Obviously I am one of them. Although I never was a fan of the iPad.. love my MBP and 4S though.

 

[Nautilus007]

A phone is something I use daily. I don't mind spending cash on a phone. That and shoes

 

[Quu]

After I got an iPhone 5 I sold my old iPhone 4S and was up £150. So I made off pretty good in my opinion.

 

[Applejuiced]

Ahh, didn't know it was that much. But as a broke college student the $400 profit is more than welcome. The only reason I was able to afford the i5 in the first place is because I had just gotten some birthday money and sold my 4S. An impulse buy that I ultimately ended up regretting, live and learn I suppose. Glad to be an American where I'm free to make ignorant decisions, change my mind, and fix it. Hasn't turned out all bad, ended up breaking even at first and now after the 4S I bought and the final value fee and such are taken out, the $300-$400 profit will be nice. And I've also sold about 7 phones on ebay prior to this one, have my buyer restrictions set pretty strict and only accepting payment from confirmed paypal users. Thanks for the heads up though, I feel a lot of people aren't that careful.

Well said.
Only ship to paypal confirmed US address with signature confirmation and insurance.
With that in place you shouldnt have much to worry but there are rare cases when some will claim you send them an empty box or they try to dispute charges with paypal and their credit card company etc...
Stick with long term buyers with good feedback and avoid 0 and 1-2 feedback users.
You can always cancell and refund the user if you dont feel comfortable.
Good luck bro.

 

[michaelmac3]

Well said.
Only ship to paypal confirmed US address with signature confirmation and insurance.
With that in place you shouldnt have much to worry but there are rare cases when some will claim you send them an empty box or they try to dispute charges with paypal and their credit card company etc...
Stick with long term buyers with good feedback and avoid 0 and 1-2 feedback users.
You can always cancell and refund the user if you dont feel comfortable.
Good luck bro.

Thank ya thank ya, you've got my plan figured out to a T.