Selling Pre-Orders? (iPhone X)

[jrba719]

So I’m seeing that the iPhone Xs are selling for upwards of 3k to 5k! Why are people willing to spend around quadruple the amount for this?? How does selling phones before they are out even work? Does it work like this? 1. I receive the payment from the customer (let’s say $2000) . 2. I wait for the pre ordering day and buy it with the money he/she gave me (which will be around $1100) and ship it to their address? Do I keep the extra $900??  

Thanks 

[emerald40]

And it could also work like this.

Buyer files SNAD, sends back a cheap flip phone, and you have to reimburse him his money.

[jonathankirkland]

The reason people pay so much for pre-orders is due to simply supply & demand.

There are only X amount of a certain item (usually electronics) available upon launch, and then people who really want them immediately are unwilling to wait then have to pay inflated prices in order to obtain one.

Of course what was said above is true also. Cell phones are probably the number one target of scams on all of ebay.

[campesinoplastic2014]

I have a friend in China who is badgering me, trying to get me to buy  fake i-phones. I'm sure there are ZILLIONS of these on the way as we speak, and there is a lot of money in these fakes.

[southern*sweet*tea]

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@jrba719 wrote:

Why are people willing to spend around quadruple the amount for this??

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Because people are stupid

[luckythewinner]

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@jrba719 wrote:

So I’m seeing that the iPhone Xs are selling for upwards of 3k to 5k! Why are people willing to spend around quadruple the amount for this?? How does selling phones before they are out even work? Does it work like this? 1. I receive the payment from the customer (let’s say $2000) . 2. I wait for the pre ordering day and buy it with the money he/she gave me (which will be around $1100) and ship it to their address? Do I keep the extra $900??  

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I think is it charming that you believe those buyers are not going to steal those phones.