Risk: Moderate

1. Potential Losses: - Money: Initial investment in purchasing iPhones, potential losses if unable to resell at a profit. - Time: Time spent researching, purchasing, and reselling phones. - Energy: Effort in finding good deals, negotiating, and managing sales. - Confidence: Risk of discouragement if unable to sell or if sales do not meet expectations. 2. Beginner Experiences: - Many beginners have reported spending money on iPhones that they couldn't resell for a profit, especially if they overpaid or didn't account for fees and shipping costs. 3. Startup Costs: - Costs include purchasing iPhones, potential repairs, listing fees, and shipping. These may not pay off if the phones don't sell or sell at a loss. 4. Online Feedback: - There are numerous accounts of people losing money due to overestimating resale value, underestimating costs, or encountering scams. I’d rate the risk a 2 out of 5 because there is a significant chance of losing money if not careful, especially for beginners who may not have the experience to accurately assess the market or manage costs effectively.