It seems that anytime a new iPhone comes out, the lines get longer and longer and the first month after launch is when the scalpers make the most money off of reselling iPhones that are out of stock nationwide. I’ve constantly been watching iStockNow.com to monitor Apple’s live inventory for when an iPhone 6 Plus 64GB Space Gray would be in stock in my area. For 3-4 days there was nothing. Naturally I looked on eBay and Craigslist, but most people were asking for $200 – $500 more than what the actual phone would sell for in an Apple store. This got me thinking, could I manufacture spend by purchasing iPhones when they do come in stock and then resell them?
Here’s how I’m thinking this would play out. If an iPhone 6 Plus 64GB Space Gray came in stock at a nearby Apple store, I could pick one up for about $910 after taxes. The phones are going for roughly $1,100 on eBay and I’m almost certain I would be able to get at least $950 on Craigslist if I didn’t want to deal with making an auction and pay seller fees to eBay and PayPal. If I or someone else were able to do this numerous times, you’d be looking at thousands of dollars in manufactured spendind without any cost! Typically when I do manufactured spending, I purchase Visa gift cards at my local grocery store or Simon mall. The only downside to this is each gift card comes with an activation fee of $2.95 – $5.95. If I can get over $910 for each iPhone I sell, I’d end up making money all while earning miles!
Things to consider
If I plan on selling the phone on eBay, I may not get $1,100. As we get further and further away from the iPhone launch date and more iPhones come in stock, that price will steadily drop. According to this eBay and PayPal fee calculator site, I would have to sell the phone for $1,045.12 or higher to recoup my $950 that I coughed up to purchase the iPhone 6 Plus at the Apple store. Keep in mind this scenario is only for the 6 Plus 64GB Space Gray model. With that being said, I’d be taking a gamble since there’s a possibility all phones wouldn’t sell for $1,045.12.
Had I thought of this ahead of time before the iPhone actually went on sale, I would have pre-ordered the iPhone and actively monitored iStockNow in September so I could have done a little manufactured spending this way. However, now that were almost a month out, I don’t want to risk losing any money.
I think this is a great idea to keep in mind for next year for when the iPhone 6S or 7 launches! What do you think? Too much work for a few thousand dollars in manufactured spending?