Sunday, February 26, 2012
Doing it again! (iPad arbitrage)
About this time last year I caved and bought an iPad. I had resisted, thinking that it was just a giant iPhone, and not necessary since I already had a MacBook Pro for mobile computing. I was totally wrong - the iPad is fantastic, and I am sorry that I did not get one sooner.
Because of my caution last year, I decided to buy a used 1st generation iPad just after iPad 2 was announced. I got a great deal from an early adopter who wanted to sell her 1st generation iPad to make room for an iPad 2. (I paid either $200 or $220.)
Word is that the iPad 3 is coming soon, so I began looking at the aftermarket for iPads. To my amazement, original iPads are still in demand and the market is generally ignorant of the imminent arrival of iPad 3.
I have a Craigslist advert up for my original iPad, and I expect to reap ~$275 for it (for a profit of $55 to $75!) I haven't decided yet whether to use the proceeds for a new iPad 3 or a used iPad 2. I expect, though, that iPad 2 aftermarket prices (~$350-$400) will fall by nearly half after the release of iPad 3. I might just rollover my sale proceeds into an iPad 2 and see if I can make a similar profit this time next year!
Uncommon Man's Creed
"I do not choose to be a common man. It is my right to be uncommon -- if I can. I seek opportunity -- not security. I do not wish to be a kept citizen, humbled and dulled by having the state look after me. I wish to take the calculated risk; to dream and to build, to fail and to succeed. I refuse to barter incentive for a dole, I prefer the challenges of life to the guaranteed existence; the thrill of fulfillment to the stale calm of utopia. I will not trade freedom for beneficence, nor my dignity for a handout. I will never cower before any master, nor bend to any threat. It is my heritage to stand erect, proud, and unafraid, to think and act for myself, to enjoy the benefit of my creations, and to face the world boldly and say, "this I have done." All this is what it means to be an American." -- Anonymous