iPhone profits
The iPhone launched yesterday and, predictably, it’s already hitting the secondary market. It’s hilarious to scroll through eBay and read some of the listings for iPhones. As I’m writing this, the prices range from $20,999,999.00
downward. Some of the auctions are pure satire, others are pure greed (Buy It Now price of $5,000? Gimme a break.), but most are regular folks looking to flip the phone for a few bucks, letting the market set the price by starting at $.01. Seems to be working, too. The successful auctions look like they’re ending with sellers gaining $200-$300 in quick profits. I don’t have a sense of how big the secondary market is, but the number of listings on eBay sure seems like a glut. Apple made the market, I guess. You can buy 8gb iPhones directly from Apple online for $599 or on eBay for $900. The difference is that your eBay seller will whip it to you the same week, while Apple says it’ll take 2-4 weeks to get to you. Looks like the time difference can be translated directly into dollars, via eBay (or Craigslist, which actually makes even less sense because we’ve got three Apple stores within easy driving distance in Portland and they all have iPhones in stock. Why would anyone buy one on CL?)
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POSTED IN: business ideas, marketing, sales, web/tech
