SOLD – Best Buy iPad Air 1st Gen

iPad-Air-Silver-16gb-wifi-1

A couple of weeks ago, there was a sale on 1st gen iPad Air 16GB from Best Buy.  Deal here.  I bought both a gray and white one since the limit was 1 per order.  I wanted to buy them since I still had a lot of Best Buy gift cards from the Amex offers deal from November/December, so my primary motivation was liquidation of Best Buy gift cards at cost and not really to make money.  Well, I just sold my last one on Ebay today, and so I wanted to share the math from this deal:

  • Best Buy price – $299.99
  • Tax – (9.5% inWA) – $28.50
  • Total cost – $328.50 per iPad

Sale price

  • My Ebay sale price – $369.99
  • Ebay fee – $14.80
  • Paypal fee – $11.03
  • Shipping fee – $5.35 (fits in a padded flat rate envelope; no signature confirmation since it’s under $750)
  • Net sale price – $338.81

Cashback

  • 5% Discover cashback portal on $299.99 – $15 (I chose 5% cash instead of 1X miles from other portals)
  • 2% Best Buy Rewards zone – $6

Conclusion

As you can see, my profit was only $10.31 (margin 3%) from the sale.  However, due to the miscellaneous items, I earned another $21 per iPad.  Therefore, I made $31 per iPad (9% margin) and liquidated $600 worth of Best Buy gift cards.  You could even argue this was easier than buying $200 Visa gift cards at Best Buy for a loss of $5.95 per $200 ($18 for $600) since I spared myself a trip to the armpit of America – Walmart.

 

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