Can someone explain this to me please?

[purbeast0]

http://cgi.ebay.com/40-US-Amazon-co...m&pt=US_Gift_Certificates&hash=item3a5a072c8b

is there any other explanation other than people are stupid?

 

[BTA]

Free Shipping dude

 

[Crono]

Every 3 months or so I see a thread on this topic.

Here's one from '08:
http://forums.anandtech.com/showthread.php?t=188821

 

[preslove]

Every 2 months or so I see a thread on this topic.

Is a definitive reason ever reached to explain this phenomenon?

 

[Crono]

Is a definitive reason ever reached to explain this phenomenon?

Cash back, international users buying it as a gift, and probably a few cases of money laundering

 

[purbeast0]

Every 3 months or so I see a thread on this topic.

Here's one from '08:
http://forums.anandtech.com/showthread.php?t=188821

lol casiotech.

 

[Gibson486]

the power of stupid compels them....

or they are simply gonna buy it with stolen money.....its the only reason I can think of.

 

[preslove]

Cash back, international users buying it as a gift, and probably a few cases of money laundering

OK, I see the first two, but I don't get the money laundering angle.

 

[destrekor]

OK, I see the first two, but I don't get the money laundering angle.

legal money transactions that are established for the purpose of using "dirty money" that allows it to change hands a few times so the original illegal source is hidden.

 

[preslove]

legal money transactions that are established for the purpose of using "dirty money" that allows it to change hands a few times so the original illegal source is hidden.

Yes, I know the definition of money laundering. I just don't understand how purchasing gift cards on ebay helps you launder money.

 

[destrekor]

Yes, I know the definition of money laundering. I just don't understand how purchasing gift cards on ebay helps you launder money.

Fake large ticket purchases that are set up for the purpose of laundering, and the same people likely place insanely high bids to ensure nobody else can enter a real bid.

Say, put a $1000 bid on a $500 gift card. Someone bids 502, that 1000 max bid is still valid and bumps the current bid to 503 or whatever... this may continue until some illogical fellow bids a max of 550 or so, and then everyone gives up since it's no longer worth it.

Original very high bidder "wins", no actual goods are ever changed hands, but the money is moved across accounts. Legal transaction, helps clean up the money's origins.

This is just an assumption of how it would work on eBay. I've actually never given it much thought, but in the modern age, it makes a lot of sense for the cases where the paid bid is far more than the value of the item.

 

[purbeast0]

yea those guys laundering that $40 are BALLERS!!!!

 

[gaidensensei]

Maybe they live in another country that has problems with online payments w/ amazon.
Only legit reason I can think of.

 

[Leros]

Does Amazon sell music by country?

In other countries the music availability is not the same due to licensing agreements. I know people outside the US will overpay for iTunes gift cards so they can shop the USA iTunes store.