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Trying to make Money using Iphone

G

GonzagaDynasty

macrumors regular
Original poster
Nov 30, 2009
142
6
Hey guys, this is my first post, so forgive me if I'm posting stupid things.

I'm a sprint customer, and like you can probably imagine, I CAN'T stand them. been with them for over 5 years, and because of upgrades, changes in plan, ect. my 2 year contract turned into 7 years. I've finally convinced my mom to switch to ATT&T.

The problem is, we will have an Early Termination Fee with Sprint. I'm willing to pay this, but I have an idea, and need your help and opinions. If me and my mom both get Iphones, I want to also buy a 32 gig 3gs, on a third line, have my friend unlock the phone, and then sell it for around 700 dollars, which considering the phone is only 300 with a new contract, I can pay for my Sprint ETF. I am perfectly fine with paying an extra 10 bucks a month for a line that I don't use. Can you buy an Iphone at the new customer price, sell it for a big profit, and then cancel the data? I'm assuming this is enough information to get you guys going. Any help would be absolutely great.
 
Yes, you can do it.
Like you said you'll probably have to keep the line open with the $10 a month fee.
But get ready to be attacked by the moral police here telling you not to do it and its not right etc...
Just ignore them :D
lol
 
GonzagaDynasty said:
Hey guys, this is my first post, so forgive me if I'm posting stupid things.

I'm a sprint customer, and like you can probably imagine, I CAN'T stand them. been with them for over 5 years, and because of upgrades, changes in plan, ect. my 2 year contract turned into 7 years. I've finally convinced my mom to switch to ATT&T.

The problem is, we will have an Early Termination Fee with Sprint. I'm willing to pay this, but I have an idea, and need your help and opinions. If me and my mom both get Iphones, I want to also buy a 32 gig 3gs, on a third line, have my friend unlock the phone, and then sell it for around 700 dollars, which considering the phone is only 300 with a new contract, I can pay for my Sprint ETF. I am perfectly fine with paying an extra 10 bucks a month for a line that I don't use. Can you buy an Iphone at the new customer price, sell it for a big profit, and then cancel the data? I'm assuming this is enough information to get you guys going. Any help would be absolutely great.
Click to expand...

Well the only way you can sell the iPhone on the 3rd line is to wait a month, and then cancel it, but you'd also have to pay ETF for canceling the 3rd line which amounts to $175.
 
alphaod said:
Well the only way you can sell the iPhone on the 3rd line is to wait a month, and then cancel it, but you'd also have to pay ETF for canceling the 3rd line which amounts to $175.
Click to expand...

I'm not going to cancel the 3rd line though. I'm just going to pay for it, as long as I don't have to pay the data.. I'm fine with paying 10 bucks a month for a line .

So the only thing stopping me should be morality? Because I don't have morals. :). But seriously, I just don't wanna be surprised after I do it. As long as I can cancel the data and pay 10 bucks a month for that third line I'm not using...
 
The 10USD a month you have to pay will equal 240 USD without taxes by the time your contract is up. So that negates the ETF from Sprint.

But if you can get 700USD for an unlocked 3Gs, then I guess its worth all the trouble and headache..because dealing with ATT reps when you are trying to cancel a service, there will be a lot..
 
I would not do that. Let's do some math; iPhone 3GS 32GB $299, voice plan for a month $10, data plan $30, ETF $175, activation fee $26, then you need to pay total $540 + tax (approx. $20). Ebay/paypal fee will be approx. $47 and shipping/handling/insurance fee is approx. $15.

$700 - $540 - $20 - $47 - $15 = $78 could be your gain + hassle with ATT representative to terminate the contract. :(
 
You gotta subtract the ETF $175 cause he doesnt plan on cancelling, he's going to carry the line for the full 24months at $10 per month.
Is it doable yes, but I'll have to agree is it worth the hassle and work put into ebay and going thru all of it?
So $24 months service is $240 + $30 for the first months data and then paypal fees etc. an additional $50-60
Total around $330 plus the $299 plus tax paid for the iphone then if you sell it for $700 you make $60-80 profit.
I wouldnt bother with it for such a low profit margin and work needed to list and sell it etc...
But it is doable.

realeric said:
I would not do that. Let's do some math; iPhone 3GS 32GB $299, voice plan for a month $10, data plan $30, ETF $175, activation fee $26, then you need to pay total $540 + tax (approx. $20). Ebay/paypal fee will be approx. $47 and shipping/handling/insurance fee is approx. $15.

$700 - $540 - $20 - $47 - $15 = $78 could be your gain + hassle with ATT representative to terminate the contract. :(
Click to expand...
 
realeric said:
I would not do that. Let's do some math; iPhone 3GS 32GB $299, voice plan for a month $10, data plan $30, ETF $175, activation fee $26, then you need to pay total $540 + tax (approx. $20). Ebay/paypal fee will be approx. $47 and shipping/handling/insurance fee is approx. $15.

$700 - $540 - $20 - $47 - $15 = $78 could be your gain + hassle with ATT representative to terminate the contract. :(
Click to expand...

solid.
 
If there is a possibility to make money out of it OTHERS would already thought of it before (at least analysts at AT&T). You only will lose more money doing this - Go and get a cheap mobile phone contract without any special phones until you paid your ETF.

My mobile costs me 4,90€ per month. The mobile is an old sony ericsson which suits my basic needs pretty good. And my contract includes 100 min of free talking to every phone company and 150 SMS per month. Enough for me.
 
iPhone 3G on o2 in the UK for £330. No contract, no setup fees, no line rental, no data charges, no bs. I'd hate to have an iPhone in America on AT&T.

Like everyone else has said, it's such a pointless thing to do. You will end up wasting so much time sorting out the extra iPhone. Could you not save the $10 a month you'd pay on the 3rd line to pay the ETF for Sprint? Makes more sense to me.
 
To the people who went to the trouble of going into detail, thank you! I think you guys are right, I'd rather just pay the Sprint ETF instead....

To the last couple of posters who consider this "fraud" and "immoral", You are fools.... There is nothing wrong with what I was talking about. God forbid I make a profit.... If that's immoral, and committing fraud, then I would HATE to see how you live your life.
 
GonzagaDynasty said:
To the people who went to the trouble of going into detail, thank you! I think you guys are right, I'd rather just pay the Sprint ETF instead....

To the last couple of posters who consider this "fraud" and "immoral", You are fools.... There is nothing wrong with what I was talking about. God forbid I make a profit.... If that's immoral, and committing fraud, then I would HATE to see how you live your life.
Click to expand...

Well of course you'd hate to see how people with morals live their lives if you have little or none. Funny how you see fit to judge others but when others judge you resort to name calling.
 
Its very easy to judge others than look at ourselves and our daily lifes while acting like we're perfect I guess.
Theres nothing illegal or fradulent about the OP's plan. He did plan to fulfill his 24 month commitment with AT&T and even if he didnt as long as he paid the ETF its his legal right or perogative to do as he chooses.
Like those big companys are always fair and never take advantage of their customers right?
 
Applejuiced said:
Its very easy to judge others than look at ourselves and our daily lifes while acting like we're perfect I guess.
Theres nothing illegal or fradulent about the OP's plan. He did plan to fulfill his 24 month commitment with AT&T and even if he didnt as long as he paid the ETF its his legal right or perogative to do as he chooses.
Like those big companys are always fair and never take advantage of their customers right?
Click to expand...

OOOH - you honestly almost had a valid argument right up until the end. You should have quit while you were at least being rational and stating "the case". But your comment about companies at the end ruins it. Why? Because moral or not, two wrongs do not make a right. And just because one company does one thing, doesn't give you the right to screw over (if that's how some perceive it) another.

The bottom line - as shown - you can do it. But the hassle involved to make less than $100 is pretty ridiculous. Why bother? If you're THAT hard up for $100 - then perhaps the iPhone isn't for you anyway.

My .02.
 
Applejuiced said:
You gotta subtract the ETF $175 cause he doesnt plan on cancelling, he's going to carry the line for the full 24months at $10 per month.
Is it doable yes, but I'll have to agree is it worth the hassle and work put into ebay and going thru all of it?
So $24 months service is $240 + $30 for the first months data and then paypal fees etc. an additional $50-60
Total around $330 plus the $299 plus tax paid for the iphone then if you sell it for $700 you make $60-80 profit.
I wouldnt bother with it for such a low profit margin and work needed to list and sell it etc...
But it is doable.
Click to expand...

Agreed, for that little money, it would not be worth it to me.
 
samcraig said:
OOOH - you honestly almost had a valid argument right up until the end. You should have quit while you were at least being rational and stating "the case". But your comment about companies at the end ruins it. Why? Because moral or not, two wrongs do not make a right. And just because one company does one thing, doesn't give you the right to screw over (if that's how some perceive it) another.

The bottom line - as shown - you can do it. But the hassle involved to make less than $100 is pretty ridiculous. Why bother? If you're THAT hard up for $100 - then perhaps the iPhone isn't for you anyway.

My .02.
Click to expand...

Ask me if I care about what you feel is right or wrong.
 
Buying an Iphone for 300, and selling it for 700, Woah woah, Lock me up, I lack morality!

Guys- I'm not doing it. Not enough money in it for me, I realized this. I can only imagine what you guys would think about Premarital sex... grounds for a lynching, I suspect!

To those of you who actually helped me, thanks!
 
GonzagaDynasty said:
Buying an Iphone for 300, and selling it for 700, Woah woah, Lock me up, I lack morality!

... I can only imagine what you guys would think about Premarital sex... grounds for a lynching, I suspect!
Click to expand...


Nobody was calling for you to be locked up. Don't be a drama queen. People were expressing their opinions on your plan which everyone who is a member of this community has the right to do within the parameters set forth by the owners. Just because you don't like some of the responses doesn't mean they are any less helpful or invalid.

As for your 2nd drama queen moment here - I have to laugh as your plan to make money and premarital sex are on completely different spectrums. You might as well compare the response to this thread and say "I'd hate to think what flavor ice cream you all like"
 
One other point to consider: I know ordering online through AT&T you can only get two iPhones per household. Do they have the same limitations if you purchase in stores?
 
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