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Ouch! Forty Bucks Lost In iPhone Re-Sell

With all the media coverage, long lines, and people struggling to get their hands on one, many wannabe profiteers assumed that when the iPhone was for sale on Craiglist for $1,500 it would sell in no time. Guess again. When a hopeful iPhone profiteer expected to make a few bucks by selling the 8GB phone on eBay (with a start price of $100), they actually ended up losing $40 after shipping, insurance and eBay/PayPal fees.

The Mercury News reported that on the last day of the five-day auction, the price finally inched its way to $300 (still $300 under the original price tag) and eventually got up to $600 and then $665. Definitely a far cry from what the seller had hoped to get!

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