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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