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Post to 50 And More Social Media Sites, including Instant Blog Subscribers, Facebook and Twitter. September 30, 2013 by Stephen 35 Comments The cell phone industry is booming, everyone I know these days has a smartphone. Every time someone upgrades to a new cell phone, they are going to want to sell their old cell phone. Remember, when you buy a phone directly from your cell phone service provider with a two year contract, you pay a subsidized price. Before you start buying cell phones, it’s important you understand what they are worth. Before I start searching for cell phones to buy, I’ll refer to my spreadsheet where I keep a list of the current phones that are currently the most popular. When you find a listing for a phone that has a little to no description, this provides you the opportunity to talk down the price.
When arranging to meet to buy a phone, always suggest a public location such as a shopping mall, fast food chain, coffee shop, or a wireless service store. So now that you have an eBay account and a great feedback score, it’s time to create a rockstar listing to sell the phone. When you bring your phone to USPS, UPS, or FedEx you want to buy three additional services in addition to the standard shipping. If you’re going to be buying and selling multiple cell phones, I highly recommend you create a spreadsheet to stay organized. When I got home, I logged into the Verizon wireless website and unlinked the phone from my extra phone number. Next, I logged into eBay and uploaded some high quality pictures I took with another phone I have. When you think about making cash buying and reselling phones, you’re creating the same exact business as Gazelle.
Flipping several phones at once is a challenge and can be a bit frustrating when it comes to time management and staying organized. I suspect that if you did end with a lower price you could still cancel the auction; however, I if you are flipping multiple phones I would just write-off the one loss on my taxes and move-on to the next one. I have not run into this situation myself but it is something I will research more and write a post about.
You should remember to keep a record of all of your sales because you will need to report your income to the IRS. Because of the Ebay and Paypal fees, I can usually generate more of a profit from selling iphones on Craigslist.
I got my hands on a few brand new 64gb verizon 6’s and sold them on Craigslist and Ebay for more than what I paid. I started flipping phones two months ago on a whim and was quickly surprised at how much money I was able to make!
You can save a copy of the email from Craigslist with the final dollar amount that you paid for it as a record. When you buy the phone, do you make sure to get the phones charger with it or does it matter? I always try to get the charger, but if the seller does not have a charger available, then I use that as a reason to offer less $$ for the phone.
I just started this business last week, and it’s unbelievable how in demand iPhones are.
I can imagine it can get pretty hectic arranging to meet sellers from craigslist, what are your thoughts on just having them mail you their phones? It works round-the-clock, and for not just days or weeks, but for months and months, very own Money From Your Website making you tons of CASH! I did all of this in the time I had after my day job and a few hours here and there on the weekends. And because so many people want the newest technology, there are constantly older cell phones going up for sale.
I live in Washington DC and I’m surrounded by several corners of DC, Northern Virginia, and Maryland. If I see a phone that is detailed with information and meets my price expectations, I will email the seller and let them know I can immediately meet with them to make the exchange. After the transaction is complete, the phone now belongs to the buyer, and there is no return policy. You will be carrying a large amount of cash so you don’t want to meet in the back of a dark alleyway. I prefer to sell my phones on eBay because I can get the most money in the least amount of time. You will need to sign-up for an eBay seller account and a PayPal account so you can get paid. I prefer to use the auction feature because when you use the Buy It Now feature, it may take longer to sell. I was only able to do the extra step of having the Verizon employee link the phone to my account because I already have Verizon service. Even now that I’ve told you about the potential, as you can see, it still can be a lot of hard work.
If you are thinking about getting into this business I recommend you read Cell Phone Resale.
After a few runs, you should be able to get into more of a schedule of how you handle the entire process.
If you know how much the phones are sell for on eBay, then you will know how much you should buy a phone for before flipping it.
Once you figure out how much the phone is selling for then subtract eBay and PayPal fees, and subtract the amount you want to profit. Would you think about putting a reserve on your auctions to protect yourself from selling at a loss?
If you look at several of the auctions that are about to end for the same phone as what you are trying to sell, you’ll get an idea of what buyers are willing to pay for it.

If I can buy a phone for significantly less than what it is selling for on ebay, I know I can make a profit.
A buyer should already have a SIM card from their wireless provider and it shouldn’t decrease the value of your phone if you remove it.
If you meet a seller at a wireless store or Apple store, an employee should be able to tell you if the device is iCloud locked. But then I wouldn’t think so cause it is just buying phones no one needs and just reselling them to people who want it for a profit.
I just did a quick search on Craigslist and found a Sprint iphone 4s 16gb phone selling for $89.
I live in a highly populated area so plenty of phones the problem is that the phones are way to overpriced.
I bought them at full retail price and was able to sell them for more since they are so hard to find at the moment. Usually there is a spike in buyers in December due to Christmas shopping, and then in January it returns back to normal.
It is more important to them to get a quick sale then to deal with all of the negotiating that I handle on my end.
Not only does every US consumer have the newest technology in their pocket, they can’t wait to upgrade to an even newer phone. In the last few years I started to take advantage of the cell phone industry’s growth and began researching arbitrage opportunities from buying and selling used cell phones. As of today, there are a total of 176,316 cell phones listed for sale on eBay (September 26th). However, if you are not eligible for a phone upgrade, you have to pay full price for the phone which can reach up to $700. Look at the top few listings that have active bids to get an idea of what the phone is selling for. I usually sell iPhones because they are very trendy, but there is also a large Android community that offers a variety of popular phones. What I have learned over the past few years is how to haggle with Craigslist sellers through emails. Remember, the seller is looking to sell the phone as quickly as possible to the first person that hands them cash. Before handing over the cash, I always perform my due diligence in both the seller and the phone. On Craigslist, sellers are limited to the local region so they are more willing to reduce their asking price. On eBay, buyers are only going to trust paying for a cell phone if the seller is reputable.
In your description of the phone, you should write as much about the condition as possible. Also, when you set a price for Buy It Now, it may be higher than the market is willing to pay. You want to cover all you grounds so if something happens to the phone you won’t lose your money. I use a spreadsheet to track every phone I buy on Craigslist, it’s status of being sold, and how much money each phone profits. I am constantly searching on Craigslist looking for good deals, while trying to negotiate prices and meetups at the same time. I filtered through a ton of results on Craigslist and was successful in buying an iPhone 4 and reselling it for a profit of $125 on ebay.
I usually spend my lunch hour every week at my computer where I take about ten minutes to scope out new phone listings on Craigslist and another thirty minutes responding to previous Craigslist emails and arranging meetups. One question – have you ever ran into a problem where the end bid on your item came out less than the amount you bought for? It’s safe to say that you will get a similar amount of money to the same phone that just ended on ebay as long as you post a great listing that has great pictures and a thorough description.
Another way to figure out what a specific phone is worth is to use ebay’s advanced search options.
I wanted to ask, just in case, are there any other websites or places that would be recommended to resell iphones for most amount of cash besides Ebay?
You be able to get a few bucks more for a bundle but if you present your product well you can get just as much for the phone iteself. At the same time, there are more phones for sale in January due to Christmas present phone upgrades.
As for CDMA, I recommend making the exchange at the wireless shop where they cant test it for you (Verizon store). This is just one website and just one day, think about how many phones are being sold every month or every year all over the world.
Therefore, every person that breaks their iphone and doesn’t have insurance will have to pay full price for another one. You can add a phone to your eBay watchlist and then check later to see the final price the auction ended at. Since there are so many, I can afford to pass up on sellers who won’t come down on price. If the phone was well described, there will be several other interested buyers so be the first person to message the seller if the price is right.
I usually will start an email conversation with the seller, asking for pictures, if the phone works, and if there are any problems with it I should be aware of. I will do my best through email communication to obtain the seller’s name and phone number. Don’t bother copying and pasting the phone specifications from the manufacturers website, eBay will take care of that for you. You can also keep a tab to keep record of which phones are most popular and have the highest demand paired with their estimated fair market prices. I made sure all the old user’s data was deleted from the phone and it was restored to the default settings.
This was a great deal and a perfect example of how to make money buying and selling used cell phones.

You may also have to drive around quite a bit between picking up phones from Craigslist sellers and trips to the post office to send off phones to their new home.
The book comes with a 10 videos you can watch on your computer to help you get your business started.
I still have to figure out how much money I actually made after the ebay and shipping fees.
Since bidding on eBay is a contract, wouldn’t youhave to take a loss if your auction ended with a lower price than what you bought for? On Facebook, thoduands of people are selling there iPhones on local trading post on Facebook. This book gave me the motivation and resources to get started with making some extra cash flipping phones on the secondary market. It makes sense for someone in this situation to buy a used phone from you or I at a cheaper price.
On the website, you can choose a specific phone model and the phone’s condition, and the tool will show you the current fair market price.
If you calculate an average of a few of the recently ended auctions, you can determine a realistic price of what the phone is worth on the secondhand market. What I’ve noticed is that most people want to sell their phone ASAP, and because there are a thousand other people selling the same exact phone, it is more difficult for sellers to compete. If they are willing to give that information, I will call them to arrange a meeting spot to pick up the phone. It ‘s a simple concept, buy a phone in a smaller market and then resell it on a larger market for more money. While some people may prefer to set the auction to 7 days, I have found it doesn’t make a difference if you set it to 24 hours.
The book also teaches about networking, social media, how to buy and sell with sources other than Craigslist and eBay, advertising, trading phones, building a phone website, and how to respond to specific Craigslist emails.
What I don’t understand is how you can manage to flip so many phones while working a day job? You’ll also see similar movement in the market when a new phone is released by a big player such as Apple. But my question for Stephen, since I’m new to the business, I’ve came across a few people that later learned that I flipped there phone for a huge profit and were very upset with me, how do I deal with that? The fair market price is the median price paid for this device, which is the statistically accurate representation of the average price that buyers have paid. Also keep in mind that used cell phones depreciate as manufacturers introduce newer and better phones.
After you search for your target phone, your results will include a list of phones for sale that are detailed, while others are less descriptive. If the seller doesn’t have many other interested buyers, and wants to sell the phone fast, they will most likely agree to your offer. I always try to meet the seller at the local wireless store because they can checkout the phone for you.
If someone is not willing to give that information, I avoid doing business with them because I fear they may be selling a bad phone and don’t want a trail leading back to them. If you want to build up your feedback you can start buying things on eBay which will result in sellers adding to your feedback score. Remember, someone is about to pay several hundred dollars to buy a cell phone across the country from someone they have never met before. I emailed the seller, asked for some pictures, the ESN #, asked if anything was wrong with the phone, and requested his phone number so I could call him about it.
If you don’t have an established feedback rating, you may not have as high of profits. You can also see a historical graph of how the exact phone’s value has fluctuated over the last few months. The new iPhone 5s that was released by Apple a few weeks ago caused the value of last year’s iPhone 5 to slightly decrease.
For example, Some of the listings will include a thorough description and pictures revealing every angle of the phone. Most of the time if the seller is hiding something, they won’t want to meet at the store. You can also search the seller’s email address and phone number on both Craigslist and Google.
In the email I also noted that I live in the area and could possibly pick it up later in the afternoon. However, if you are willing to deal with all these challenges, you can make some great side income, or possibility a full-time salary.
I struggled with finding a phone to buy quickly because I was sending emails back and forth on Craigslist several nights in a row. Sometime I sleep all day and Wake up around noon to plenty of text about a phone I have on craigslist I set up a time to meet and I meet them demonstrate the phone if they like they buy and I’m heading back home and theirs my $75-$150. But I would like to broaden the types of carriers I buy but I don’t have a CDMA sim to use test this.
The seller got back to me with the information and two pictures he took from his wife’s phone. The book only costs $37, which can be made back in just one phone sale if you’re serious about giving this a try.
Everything looked good so I called the seller, offered him $315, and arranged to meet him at a Verizon Wireless store that was close to both of us. The author gives real stories based upon his experiences and makes the book a must read if you are buying and selling cell phones.
When we got there I looked at it, all the ports looked good, I tested the charger and the camera.
I said everything looked good and asked a Verizon employee to add the phone to one of my extra lines and he did this at no charge.

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