Why do Amazon Gift Certificates sell for more than their face value on ebay?

[fatpat268]

I've seen $500 GC's sell for $575. $100 GC's for $120. What gives?

Am I missing something here. I mean I guess, I could rack up points on amazon credit card by buying huge gift certificates and sell them on ebay, but why in the hell would people pay MORE than the face value of the GC?

In fact, why do people even bother paying $99.50 for a $100 GC? $95 seems appropriate, otherwise I'd get the GC from Amazon themselves.

Anyway, I'm wondering if anyone can enlighten me, or is it just that ebay is full of retards?

 

[buzzsaw13]

Originally posted by: fatpat268
Anyway, I'm wondering if anyone can enlighten me, or is it just that ebay is full of retards?

 

[imported_Lothar]

You answered your own question.

 

[Slew Foot]

Money laundering, foreign currency arbitrage, gift certificates, etc...

 

[fatpat268]

Originally posted by: Lothar
You answered your own question.

I figured that...

 

[Chronoshock]

Aside from the recent ebay deal (see the Hot Deals forum), ebay has a habit of giving away cash back to valued members. Monthly promotionals like 10% off, doubling or tripling of standard cashback rates (which are around 3% for accepted members) all mean that it's possible the seller is getting it for less than retail.

 

[CasioTech]

bs, gift cards don't go for more than $70 or 80 per $100.


if they go for more, it's a bidwar and then the buyers back out because they can't be negged.


you still haven't posted links. That MAY happen, once in 1000 auctions.

 

[Leros]

Somebody asked this a while ago. I think it had something to do with currency exchange. They pay more for it, but because its US dollars, it ends up being less for them somehow. That sound familiar to anyone?

 

[andylawcc]

Originally posted by: Chronoshock
Aside from the recent ebay deal (see the Hot Deals forum), ebay has a habit of giving away cash back to valued members. Monthly promotionals like 10% off, doubling or tripling of standard cashback rates (which are around 3% for accepted members) all mean that it's possible the seller is getting it for less than retail.

/thread. accurate informative answer FTW

 

[UpgradeFailure]

Originally posted by: CasioTech
bs, gift cards don't go for more than $70 or 80 per $100.


if they go for more, it's a bidwar and then the buyers back out because they can't be negged.


you still haven't posted links. That MAY happen, once in 1000 auctions.

Wrong. I've sold many gift cards after Xmas to places like Circuit City and Best buy for more than they are worth. A lot of people use it to convert paypal funds to something they can spend everywhere, if they don't have it linked to a checking account. Also a lot of stolen accounts use it to get quick "cash"

There's a ton in the very first completed listings. And that's just amazon.com

 

[jamesave]

money laundering

 

[Alyx]

Its cost of the item plus the value of your email/mailing address to sell.