How i'm making 2K per week trading smart phones locally, online and offline.
James here. I've been a member here for quite awhile and have learned quite a bit from the great forum so i think it's time to give back and start making friends here.
This is my first post sharing my personal experience trading smart phones online and offline. Note that this is what i'm doing and i do not guarantee you can make the same amount of money because it really depends on you yourself. The concept is quite old, yet is working pretty good for me still. It's buying and selling mobile phones.
This requires some start up capital and the more you have the more profit you can make.
Now this 2k a week is just my part time job only which i spend less than 2 hours a day. My big scale business is also trading mobile phone but it's much bigger than this because it involves with big dealers and wholesalers. So Just want to tell you to first start with small idea then scale it up as you progress.
Enough said, let me show you what i do with the 2k per week.
I post ads on Gumtree saying something like "i buy your new or used phones with instant CASH, text me now"
If you are in the US, you may wanna use CL. anyway you get the idea.
It's simple right? yes, but you may be in trouble if you don't know what you're doing. Now, i usually only buy iPhone and Samsung galaxy because i can sell them out within 5 hours or so.
You need to check the market price by doing research on eBay, Amazon and especially on CL or Gumtree itself. See how much people are selling their phones for. I usually buy $50 to $100 under market value otherwise i wouldn't bother.
Second thing, you need to know how to tell weather the phones are fake, water damaged, or malfunction in some parts. There are people out there who can put a fake phone in a complete sealed box like brand new, so watch out guy. If you don't believe it, i can do it myself sealing the iPhone box like brand new never opened.
Things you need to check out.
- If you buy a brand new sealed, always request to open the box and have a look at the phone unless you're buying from your someone you already know for awhile.
- check for water damaged, inspect and detect any sign of water damaged. If the phone can battery removable, then open it up and look in the inside.
- Test all the functions such as speaker, wifi, bluetooth, making calls etc. Make sure they all work fine.
- Check if the phone is locked to any carrier by going online to www.iunlocker.net and type the phone's imei in.
Ok, so you've got some idea. However, it does not mean that you can't buy problematic phones, in fact you can make big money from it. If the iPhone has got issue like WiFi or Bluetooth problem provided it is still turned on and not water damaged, just go online and check weather it's still under warranty. If it does, just offer it $200 to $300 lower than the market price. Then when you're free, just go to the Apple Store and exchange for a new one.
Now, where to sell? You can sell them on eBay or Amazon. But i personally sell on Gumtree/CL. It's fast and cheap !! I normally put my ads on top for 7 days to attract people for as low as $3 on Gumtree. If i get an iPhone or a Galaxy Note i can get rid of them within 5 hours banking at least $50 each.
You might think how can you get up to 50 phones a week like i do? Trust me you will. You might get only a few a week when you first start but when people start to know you they come to you quite often. Especially those traders that are in the same business. you'll get to know them and if you are willing to give them some margin per phone, they will bring you A LOT every week.
There are many big wholesalers that i am dealing with everyday and i wholesale the stock to retail shops locally. Anyway, i will give you more tips on how to scale it up once you succeed the small one first.
Good luck guys,
Hope this help.
James Kit
FREE