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What It's About
A listener is thinking about reselling smartphones. What should they know?
Notes from Chris
Episode 1372
If there’s one thing the world needs more of, it’s cell phones … right? When you upgrade your iPhone or Android smartphone, what do you do with the old one? Many of us trade them in, knowing that we aren’t getting a great deal but not wanting to hassle with an alternative. Today’s listener is hoping to profit from this problem—how should they proceed?"Hi Chris, I’m a long time listener, first-time caller. Speaking of phones… I recently upgraded my iPhone and wanted to trade in my old one to Apple, but the price they offered seemed really low. So I decided to shop around, and heard of a site called Gazelle, where you can buy and sell used phones. I thought that would be great, but their buying price was also pretty low. I ended up selling my phone on Facebook Marketplace and got at least $50 more than I would have from selling to either Apple or Gazelle. It got me thinking: since they don’t pay market value, couldn’t there be some way to arbitrage this? I can’t compete with big companies, but if I could specialize in selling locally or otherwise providing some kind of benefit, I’m thinking there’s a way to make it work. What do you think—am I missing something?"Listen to today's episode to learn more...
SEE ALSO:
- Sneaker Fan Flips Shoes For $1,000 A Month: A trip to the mall at age 10 turns into a long-term hustle buying and reselling popular sneakers.
- Stylish Clothes Reseller Becomes Fashion Consultant: A broke college student learns to buy and resell designer clothes, then transitions the business into a high-end fashion consultancy. He now earns six figures annually!
- Flipping 101: The College Textbook Edition: A college student with a new family to support reads between the lines and turns a $20 used textbook into almost $70,000 within two years. This episode will flip your lid!
