PDA

View Full Version : eBay: iTunes Gift Cards Selling Above Face, WHY?



trsent
10-31-2011, 11:19 AM
So, I usually look on eBay to buy iTunes gift cards as I usually get them about 10% off their face price.

What I find odd is I see a lot of listings for more than the face of the gift card:

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&category=3419&item=120803168415

Here is an example above. A $50.00 gift card sold for $55.95.

So, I know I get 2% back from eBay for eBay bucks, but is there another promotion going on that I am missing? Why wouldn't people just log into iTunes and load their account for regular price.

I must be missing some promotion - Help please!

otismalibu
10-31-2011, 12:14 PM
Unless someone's using eBay gift cards?

ferro39
10-31-2011, 12:54 PM
i have sold itunes gift cards for more than what they are worth in the past. it baffled me as well. iirc, around $55 for a $50 one

trsent
10-31-2011, 01:45 PM
I believe when Bing was first launched they had a cash back program with eBay that was pretty strong but I do not know of anything list this at this time. Hopefully someone else does.

kudu
10-31-2011, 04:05 PM
Walmart gift cards are the same way. No clue why they go for more than face value :confused:

CampWest
10-31-2011, 04:30 PM
Do you get charged sales tax if you buy them at say Best Buy?

I guess if it was less of a premium than the sales tax??? Maybe...

Are they out of US buyers?

I dunno, though... I once sold about a whole roll of George Washington $1 coins for $2.50 each plus shipping.

kylehess10
10-31-2011, 04:51 PM
Since I first started using eBay, I've sold around 10 gifts cards, and atleast half went for more than its face value. I can't really figure out why, but it happens.

trsent
10-31-2011, 06:35 PM
Do you get charged sales tax if you buy them at say Best Buy?

I guess if it was less of a premium than the sales tax??? Maybe...

Are they out of US buyers?

I dunno, though... I once sold about a whole roll of George Washington $1 coins for $2.50 each plus shipping.

No sales tax on gift cards until you spend them. It wouldn't have anything to do with it.

jppopma
11-01-2011, 07:33 AM
I'd guess lazy people who don't want to go to the store to buy them, but I'm sure they could order one from the website and have it mailed too.

Are they bidding early, or maybe using a snipe service? I know on jerseys I will sometimes roll the dice and place a snipe higher than the buy it now price; in hopes that it will go close to the opening bid.

The only other answer is competitiveness...they want to win at all cost.

trsent
11-01-2011, 09:01 AM
I'd guess lazy people who don't want to go to the store to buy them, but I'm sure they could order one from the website and have it mailed too.

Are they bidding early, or maybe using a snipe service? I know on jerseys I will sometimes roll the dice and place a snipe higher than the buy it now price; in hopes that it will go close to the opening bid.

The only other answer is competitiveness...they want to win at all cost.

Most of the cards selling above face value are buy-it-now's like the one I posted. Something else is going on, like cash back promotion that we all need to get in on.

freddiefreeman5
11-01-2011, 12:16 PM
Not sure if these are the reasons but maybe:

Eliminates gas to the store
Eliminates time in line at store
Card is delivered to your mailbox

Dach0sen0ne
11-01-2011, 12:58 PM
It's the easiest way to purchase goods and services without a paper trail. Big brother is always watching. ;)

trsent
11-01-2011, 01:40 PM
It's the easiest way to purchase goods and services without a paper trail. Big brother is always watching. ;)

Huh?

eBay and PayPal are the biggest paper trails available.

If you want no paper trail, go to Best Buy, pay cash for your gift card.

jppopma
11-01-2011, 01:52 PM
Trsent, Have you tried to ask one of the sellers why they are asking more that face value on the card? You may be told that it's just to cover the fees/shipping/etc., but maybe the seller can shed some light and say "don't worry, if you do A, B, and C it will only be $$xx".

Considering the risk that any of these cards may be stolen or otherwise no good, I don't see why anyone would even pay full price for them! (for those who question everything, yes I know you can get your money back through paypal if they are not good.......but......paypal will not cover additional expenses of the hassle of being hauled off by loss prevention in front of all of your neighbors or being questioned by the police for an hour before (hopefully) being released).

jppopma
11-01-2011, 01:55 PM
Also these cards are very popular in money laundering (especially overseas).... but that is one for the police forums, not GUU. :)

trsent
11-01-2011, 02:46 PM
Trsent, Have you tried to ask one of the sellers why they are asking more that face value on the card? You may be told that it's just to cover the fees/shipping/etc., but maybe the seller can shed some light and say "don't worry, if you do A, B, and C it will only be $$xx".

Considering the risk that any of these cards may be stolen or otherwise no good, I don't see why anyone would even pay full price for them! (for those who question everything, yes I know you can get your money back through paypal if they are not good.......but......paypal will not cover additional expenses of the hassle of being hauled off by loss prevention in front of all of your neighbors or being questioned by the police for an hour before (hopefully) being released).

No I have not asked any sellers.

I just figured someone would know of a promotion to make it profitable for people to pay over face for a gift card they can buy on the companies web site.

I believe we are missing something - Nothing to do with fees as I have bought gift cards from 70-90% of face on eBay for many, many years. No one is worried about eBay fees if they are selling stolen goods. There is something that we are missing, a promotion that makes it worthwhile for someone to pay over face for a gift card.

I just hope someone comes forward with what it is.

cubbs1232
11-01-2011, 06:07 PM
walmart, target, itunes, high end stores, etc have always sold for face value or over, this is not a new thing. i think it has to do with people getting cash back or rewards on their credit card plus people using bing and big crumbs money back programs.

trsent
11-01-2011, 09:10 PM
walmart, target, itunes, high end stores, etc have always sold for face value or over, this is not a new thing. i think it has to do with people getting cash back or rewards on their credit card plus people using bing and big crumbs money back programs.

That's what I was asking about.

Do you have a link to the Bing or Big Crumbs promotions? I am not familiar with either anymore.