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iBuy, iSell iProfit - if you're quick

EASY MONEY: With the launch of the iPhone 6 and iPhone 6 Plus, some Singaporeans have been making a killing by re-selling the devices.


    Sep 23, 2014

    iBuy, iSell iProfit - if you're quick

    WITHIN 30 minutes, finance manager Sky Hui, 30, made a cool profit of $4,000 from buying and re-selling three new iPhones.

    As the iPhone 6 frenzy hit Singapore and the world over the weekend amid limited supply, enterprising Singaporeans have been looking for ways to make a quick buck by flipping Apple's latest smart devices: the 4.7-inch iPhone 6 and the 5.5-inch iPhone 6 Plus.

    It is not hard to find someone willing to pay extra cash for Apple's new phones, going by forum posts on HardwareZone, as well as websites selling mobile phones such as Mobile Square and Sg Mobile.

    "When I pre-ordered the phone, many people had the intention of flipping it on the first day," said Mr Hui, an iPhone fan.

    With the extra cash he made, he bought a 128GB iPhone 6 for $1,288 himself.

    But those who are late to the game ended up fetching a lower price for the phones. Yesterday, there were more active sellers than buyers on HardwareZone's mobile-phone bazaar forum.

    Legal practitioner Kelvin Ho, 36, sold his 16GB iPhone 6 at Mobile Square for just $1,030 yesterday, after collecting it on Sunday. Had he got the phone on Friday, he could have sold it for $1,200, according to the Sg Mobile website.

    Two shops that buy and re-sell iPhones said the demand for Apple's latest handsets this year was lower than in previous years.

    Samuel Chan, Why Mobile's retail sales manager, explained: "There are more people selling, but fewer people buying. Last year, we had people from China coming to buy 50 sets at one go, but none this year."

    Christopher Wee, who owns a mobile-phone shop in Parklane Shopping Mall, agreed. He said he has 20 sets of Apple's latest phones for sale, but few interested buyers.

    "The price is dropping very quickly. Now, I'm stuck, I have to go out and find buyers."

    Apple said yesterday that global sales of its newest iPhone hit more than 10 million during the launch weekend. Singapore is one of nine markets to get the phones first.

    Both the iPhone 6 and iPhone 6 Plus were sold out at EpiCentre's nine outlets and Nubox's 13 outlets by noon on Friday. By press time, it was not known when new stocks will come in.

    A 35-year-old housewife who declined to give her name bought four phones at Why Mobile in Far East Plaza yesterday.

    She said her husband queued overnight but went home empty-handed. So, she decided to "just pay more" to get the phones for herself and her family. She paid $1,550 for each 128GB iPhone 6, which usually goes for $1,288.

    "I cannot wait any more, that's why I came here. We've compared prices and the price at the store is the best," she said.