I ordered an iPhone 4 from AT&T for $199 as an upgrade on my line, I'm out of contract. I don't have a data plan today. If I want to sell the iphone before I activate it, what is the total that AT&T charge me? $199 + $325 ETF? Or $599 as the unsubsidized price? Either way, will I still be responsible for paying the $15/mo data plan? If you pay $599 for the phone and ebay it for $800, that's only $200 profit before ebay fees ($50) and paypal fees ($24), so now you're looking at $125. Am I missing something? Flipping the phone hardly seems worth it - basically you would have sold your 2 year contract renewal benefit for $125 which is much less than the discount you'd get from taking advantage of a subsidized phone. I guess if you are sure you won't want to upgrade for the next 2 years it's free money, but what if you lose your phone or something?