My original 2G iPhone actually made me money. I mean literally – it made me $111 to be exact! I have long been a fan of Apple products. Not only is the UI superb, but Apple focuses on the entire experience – from the hype before the product launch, the purchase of the product, to the unboxing of the product, to owning the product and making every element of the product an enjoyable experience. Not surprisingly, every Apple product I’ve owned has also held its value at the time of sale. My very first iBook died, wouldn’t even boot, and with full disclosure I sold it, DOA, for $500 on Ebay. My second laptop, a Macbook, I made $200 on it after owning it for a few months (I sold it because my job at the time gave me 2 laptops and I did not need 3). I was completely amazed, that when I decided to try the same on my old iPhone, the same thing rang true. I bought my original iPhone at $399 just less than a year ago, and almost a year later, I was able to sell it yesterday (unlocked) for $510 on Ebay. Name one other cell phone that you can do that with on the market today.
If there’s one reason you buy an iPhone it should be that it, among all the other cell phones on the market, will not depreciate near as much as that of other phones. In fact, with the continued innovation of Apple and their continued edge they seem to have on the market, the hype surrounding the iPhone could just so happen to increase the value of your old phone to higher than you bought it.
I don’t know how long to expect these inflated prices to last, but so long as Apple stays innovative, and they continue to force customers into contracts on the new 3G phones, unlocked 2G iPhones actually have a value that the new 3G iPhones do not have – the ability to buy a phone, right up front, with no contract or provider tied to it. I don’t expect the price of the 2G’s to go down any time soon. Growing up my Dad (he is an Accountant) always taught me to make purchases that were the least likely to depreciate. The iPhone is a wise financial choice to make.
Have you made money on your iPhone? Please share your stories!