Why I paid $499 for an iPhone 4

by mac on June 28, 2010

So, though I preordered an iPhone 4 32gb an hour after Best Buy opened on pre-order day, I am finally able to receive it today. Apple sort of sold 1.7 million new iphones so they didn’t have many extras to share with the retail consumer electronics store. Wish I knew that ahead of time.

Well, BB called me a few minutes ago and let me know that they have my iPhone waiting for me. All I need to do is show up, show my pre-order slip, and they’ll hand me one. Of course, I’ll need to sign a new 2-year AT&T contract and cough up $499 + tax as well.

Expensive? Very. Worth it? Definitely.

Honestly, I was going to skip this generation of iPhones to save some green and hopefully switch to Verizon when they (probably) get the iphone next year. But a few days prior to pre-orders, I changed my mind.
I saw an tech news article quoting the CEO of Gazelle that they’re receiving 10x as many used iphones from users than this time last year. Gazelle is a reseller of used consumer electronics, so they’ll give people a set price for their goods and turn around and sell the item at a profit to others.

At that time they were offering to buy my iPhone 3GS 32gb for about $280. Then I found a 10% added to the price coupon at RetailMeNot and they offered to give me another 5% if I opted to receive the cash in Amazon gift cards…which is sorta like cash to me anyway. So in the end, I’ll get over $312 to spend at Amazon for my old phone. Final price to upgrade to an iPhone 4? About $188+tax. Not too bad.

Worth it for a device that I use more than any other. For those that want to attempt the same deal, good luck, because just an hour or two after I confirmed the selling price of my phone at Gazelle, they dropped that price down over $80. They’ll now only offer about $195 or so. My advice? eBay it!

Can’t wait to stop at Best Buy tonight. It feels really weird saying that, because I normally avoid that store like the plague. I only went there to reserve my phone because I’ll get $10 in rewardzone $$ by spending $500 there. Something is better than nothing.

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Expect a flurry of housing agreements to take place by the end of the month as the tax refund credits end for new home buyers. I have been in the same boat myself as I had hoped to both sell my home and buy a replacement to take advantage of the $6500. However, negotiations fell apart with a buyer and I’m still stuck with my unsold house.

I was offered essentially $15K under the list price (which was already very competitive). The lowest price I could realistically accept was $8 under. As the low-ballers they we, they didn’t budge. This was several weeks ago and I’m sure they found some desperate seller that took their money by now.

But I think back to the lame negotiations…should I have taken it anyway? That would have given me time to buy a new home and receive the $6500 at the end of the year. So, in a way, the math is $15 – 6500 = $8500. Only $500 less than my lowest possible price. Damn. But…if I had accepted their offer, I wouldn’t have had enough money for a down payment for a new place anyway. Stupid housing market.

A classic case of “Damned if you do, damned if you don’t.” Come’n people, somehow buy my @#$%# house! It’s in an awesome & quiet neighborhood next to several large parks and great neighbors. Plus, the house is in great shape and has been upgraded extensively throughout. Eh, what can you do?

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Last week to try to win $9100+ in prizes @ MoneyCrashers.com!

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If you find yourself with some extra time on your hands, and in the need in some good financial advice, I’d recommend that you get your butt over to http://moneycrashers.com and check out their 2010 New Year Giveaway Bash. There will be 100 winners, drawn randomly from all the entries who will share $9100+ in […]

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