How to make money on Apple’s recalls

Today Apple announced a recall of their Beats Pill XL speaker. Apple says that “in rare cases, the battery in the Beats Pill XL Speaker may overheat and pose a fire safety risk.” This can be a great arbitrage opportunity for us!

On their website, Apple says that upon shipping the product to them, “we [Apple] will provide you with an Apple Store credit or electronic payment in the amount of $325 USD or approximate equivalent in local currency.” Sp essentially, all you need to do is find these speakers locally, buy them, send them to apple, and collect the reward, so to speak. Because this is a recall, there is no limit to how many you can send in. Typically it will take 4 weeks or so, from start to finish.

So where can you find these:

The best place to look for the Beats Pill XL will be pawn shops. Generally they can identify the fakes, so there’s a good chance the beats products in their shop are authentic. They will likely be selling these around $200, so theres about $125 or so profit. Be sure to try to negotiate a better price, especially as you get closer to the end of the month!

You can also find them in abundance on craigslist or local facebook groups. You want to get them fast though, before the current owner finds out about the recall. I would try to offer $100 to start and work my way up.

Once you receive them, head to Apple’s website¬†and fill out the form. You’ll need to include the serial number of the speaker and choose “Electronic Payment” at the end.

While you’re looking for the Beats Pill XL, also be looking for the Ipod Nano 1st Generation. These will sell quickly on amazon and ebay for $70-80 due to a recall. Apple doesn’t offer cash for the Nano, but they will send you a brand new current model if you’re patient!

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