Note: For my first series of posts I thought I would bring over all the reselling posts I made over on Portlandtraveltips.
This is an update on my second attempt at reselling. My first attempt did not go so great. The second attempt was a great success.
To recap, I bought a 16GB iPad Air for $244.99 at Best Buy. I did so through Alaska Airlines’ Mileage Plan shopping mall. At the time they were offering a 2x bonus at Best Buy so I earned 540 miles on the purchase. I listed the iPad on Amazon using Fulfilled by Amazon.
I initially listed the iPad at $365. There were a couple of iPads listed at a lower price but I decided to be a little greedy and hoped those would sell quick and then mine would be next in line. The iPad ended up sitting for a few days and I grew impatient. I dropped the price by $10 and it sold within 3 hours of the price drop. After Amazon’s fees I ended up with a profit of $89. Not too shabby.
Summary:
- iPad Air 16GB
- Purchase Price: $244
- Sale Price: $355
- Net to me after fees: $333
- Profit: $89
- Miles: 540 Alaska Air miles.
At first blush you may think what’s the big deal, it is only $89 and 540 miles. True, but the potential is in scalability. I’m not in the comfort zone yet of buying in bulk and will probably continue to do one at a time for awhile, but imagine this times 5 or 10?