What is Fix and Flip? It is where I look for eBay listings of electronics that I can repair and flip for a profit. I utilize the exact system that I write in my eBook to figure out the value of the electronics, and then how much I would make if I were to fix it and resell it.
Listing #1: Lot of 3 Apple iPhone 6
Buy it Now: $299.95
This is a lot of 3 iPhones, all on Sprint and 16gb. They are the colors silver, gold, and grey. Lets looks at each iPhone and see if we can flip it!
iPhone 6 16GB Gold:
Issue:
- Cracked Screen
- Bad battery
Parts needed:
- Replacement LCD Digitizer assembly – White: $20.26
- Replacement Battery: $19.95
Total Cost for parts: $40.21
Value of Working Used: $133.28
iPhone 6 16GB Grey:
Issue:
- Bad battery
Parts needed:
- Replacement Battery: $19.95
Total Cost for parts: $19.95
Value of Working Used: $123.27
iPhone 6 16GB Silver:
Issue:
- Bad battery
Parts needed:
- Replacement Battery: $19.95
Total Cost for parts: $19.95
Value of Working Used: $133.06
Analysis
At this point, you want to break it down to how much each iPhone costs for the listing. So, $299.95/3 =$99.99. Each iPhone will cost you around $99.99. Let’s look at how much each one will cost you after repair.
iPhone 6 16GB Gold:
- Total Cost for parts: $40.21
- Bought iPhone for: $99.99
- Total Cost: $99.99 + $40.21 = $140.20
- Value of Working Used: $133.28
- Profit: -$6.92
iPhone 6 16GB Grey:
- Total Cost for parts: $19.95
- Bought iPhone for: $99.99
- Total Cost: $99.99 + $19.95 = $119.94
- Value of Working Used: $123.27
- Profit: $3.33
iPhone 6 16GB Silver:
- Total Cost for parts: $19.95
- Bought iPhone for: $99.99
- Total Cost: $99.99 + $19.95 = $119.94
- Value of Working Used: $133.06
- Profit: $13.12
Total Profit: -$6.92 + $3.33 + $13.12 = $9.53
Verdict:
These 3 iPhones seem to be repairable. However, you will only make $9.53! This doesn’t include any fees if you were to list it online to sell. This is a terrible flip and not worth it! Unless you can sell them higher then what they are being sold for right now, don’t bother.
Listing #2: Lot of 20 Defective AS-IS Apple iPhone 6S Plus
Buy it Now: $3,895
This lot is a bit tricky as there are 20 iPhone Plus’ in here. Seller is not specific on which phone has which problem. They are basically listing out all of things that could be wrong with them. We also don’t know how many Verizon and AT&T iPhones there are per carrier. The good news, none of those listed say iCloud locked, which is what we like. Let’s take a look at some more detail what’s in the listing:
Analysis
iPhone 6S Plus 16GB:
- Verizon value of working iPhone: $249.50
- AT&T value of working iPhone: $189.88
iPhone 6S Plus 64GB:
- Verizon value of working iPhone: $294.99
- AT&T value of working iPhone: $264.50
iPhone 6S Plus 128GB:
- Verizon value of working iPhone: $355.47
- AT&T value of working iPhone: $259.00
As you can see, AT&T is worth less then a Verizon iPhone. I am getting these numbers from eBay’s sold phones in the past 90 days. Since we don’t know what is wrong with each iPhone, let us say that each iPhone needs a screen replaced for analysis purposes. This would be the most expensive part that we would have to replace, so if it turns out that it is a different part, great! We will also take the average of the two carrier prices since it could be either carrier.
First, lets figure out the cost per iPhone we are paying: $3,895/20 = $194.75 per iPhone
Then see what the cost for a replacement screen is: $28.99
Now lets break it down:
iPhone 6S Plus 16GB (2):
- Total Cost for parts: $19.95
- Bought iPhone for: $194.75
- Total Cost: $194.75 + $28.99 = $223.74
- Value of Working Used: $219.69
- Profit: -$4.05 x 2 = -$8.10
iPhone 6S Plus 64GB (16):
- Total Cost for parts: $19.95
- Bought iPhone for: $194.75
- Total Cost: $194.75 + $28.99 = $223.74
- Value of Working Used: $279.75
- Profit: $56.01 x 16 = $896.16
iPhone 6S Plus 128GB: (2):
- Total Cost for parts: $19.95
- Bought iPhone for: $194.75
- Total Cost: $194.75 + $28.99 = $223.74
- Value of Working Used: $307.24
- Profit: $83.50 x 2 = $167
Total Profit: -$8.10 + $896.16 + $167 = $1,055.06
Verdict:
So what does this mean? With the initial investment of $3,895, you will make $1,055.06 profit after fixing these iPhones and reselling them. These are all estimates, but it does look to be worth it!
Listing #3: Apple iPhone 6s – 16GB
Buy it Now: $144.99
iPhone 6S 16GB on Verizon. Seller confirms everything works besides the cracked screen.
Analysis
- Total Cost for parts: $25.45
- Bought iPhone for: $144.99
- Total Cost: $144.99 + $25.45 = $170.44
- Value of Working Used: $192.28
- Profit: $21.84
Verdict
Not a huge profit, and you will have to sell this offline as the fees will kill the profits. However, you can probably get more for this iPhone if you sell it in person anyway. Plus it is a quick fix as it is just a cracked screen and the seller is pretty clear on that.
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