6 July 2007 151 views 4 Comments Print This Post  Email This Post

Sometimes I think people are nuts. I mean, come on $1000 for an iPhone? It’s a phone that can do a lot of the things a laptop can, but the funny thing is an actual laptop can be had for about $500. The Nintendo Wii is the same way. Ok I’ll admit I do own one and I love it. That is saying a lot because I’m not even a gamer, I like the interactive play. I actually came close to paying over list price for one. Luckily my girlfriend was there to yell at me for even considering paying over list. Last week we were at Target and just stumbled upon a few of them. Without even thinking twice we bought two on our credit card. One was for us and the other was going on ebay because we knew there was a market for them. To make a long story short the auction ended and we pocketed $80 net.

If you can get your hands on an iPhone or a Wii, buy as many as you can even if you have to put it on a credit card. Then make 3-day auctions on eBay and list them so that the auction ends on a weekend. Chances are you will make a good profit and you can pay off the purchase without paying interest at the end of the billing cycle. Then put the profit into your savings and find more Wiis and iPhones. I used a site called nowinstock.net to help me track the inventory of all major outlets. You can sign up so that it sends you an email whenever someone has the the product in stock.

All of these new gadgets produce a craze when they come out and usually it sells out. Its almost predictable because it happens every time including the PS3 among others.  I say the next time some hot new hyped up gadget comes out, just get your hands on them. Buy three or four and put them on eBay immediately. The worse that can happen is that the product doesn’t sell as much as expected and you only get list price for them. Think like an investor and sell to those who think like consumers. Take advantage of that large market that I talk about in this post about consumers and investors. Keep an eye out for these hot gadgets and you can easily make an extra $500 a month that you can save or invest.