The internet -- where you can get almost anything for next to nothing.

There are many good deals to be had on Craigslist, but would you believe that at teenage boy managed to turn his old cell phone into a Porsche Boxster S in two years?
At 15-years-old Steven Ortiz traded an old cell phone for another, presumably better, cell phone. That eventually led him to an iPod touch, which he was able to trade for a series of dirt bikes. He then went from bikes back to electronics, when he got a MacBook Pro. He then traded the Apple laptop for an 1987 Toyota 4Runner – but at 15, Ortiz wasn't able to drive it.
Ortiz then traded the SUV for something he could drive – a hot-rodded, off-road golf cart. He then went back to bikes, getting a dirt bike, then street bike, then back to cars, eventually ending up with a 1975 Ford Bronco.
That 1975 Ford Bronco was a collector's item worth around $15,000. That's not bad, especially considering he started from a cell phone that's probably untradeable today. But driving around in an old Bronco isn't nearly as cool as in a roadster; so at age 17, Ortiz now owns a 2000 Porsche Boxster S, which he drives to school.
He's now a bit of a celebrity, with his story all over the news. "I get so many people who say, `Can you trade my phone for a car?' I just say, `Yeah. It's not that easy,"' Ortiz said.
Ortiz isn't going to stay with Boxster S, however, as he's finding that the maintenance costs are a bit high at $150 for an oil change and $1,000 for a tune up.
Now he's looking for something a bit more economical – a Cadillac Escalade.
wonder how long before the government try to tax him on his 'earnings'.
good on him though, the kid obviously has very good business sense.
Yeah, because he didn't. A ridiculously misleading title and everyone is carrying it. Not to mention it took him two years. If you wait long enough...
I'd rather believe some marketing guys are making "fresh" news with old fairy tales.
+1
It's also proof that ANYONE can create wealth if they're willing to think outside of the box they live in.
And seriously, if you are stupid enough to pay $150 to get your oil changed, you should be kicked in the throat. With his complete lack of ability to keep from getting ripped off on auto maintenance, it sounds like he was destined to own a Boxster from the beginning anyway.
Link didn't post for some reason.
http://oneredpaperclip.blogspot.com/
Technically, he hasn't realized a gain yet, so his "earnings" are not taxable. It's not until he actually sells one of these items that the earnings become realized, and hence, taxable. And for those interesting, it would be his realized gain (sale price less his basis, which is the cost of the original phone) times the capital gains tax rate which, in 2010, was 15%, but for 2011 and beyond will be based on your highest marginal tax rate.
This is the same thing that happens with guys like Bill Gates and Steve Jobs. Most of their net worth is in the stock that they hold. However, until they actually sell it, it isn't taxed.