eBay: iTunes Gift Cards Selling Above Face, WHY?

[trsent]

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]

Re: eBay: iTunes Gift Cards Selling Above Face, WHY?

Unless someone's using eBay gift cards?

[ferro39]

Re: eBay: iTunes Gift Cards Selling Above Face, WHY?

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]

Re: eBay: iTunes Gift Cards Selling Above Face, WHY?

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]

Re: eBay: iTunes Gift Cards Selling Above Face, WHY?

Walmart gift cards are the same way. No clue why they go for more than face value

[CampWest]

Re: eBay: iTunes Gift Cards Selling Above Face, WHY?

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]

Re: eBay: iTunes Gift Cards Selling Above Face, WHY?

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]

Re: eBay: iTunes Gift Cards Selling Above Face, WHY?

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]

Re: eBay: iTunes Gift Cards Selling Above Face, WHY?

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]

Re: eBay: iTunes Gift Cards Selling Above Face, WHY?

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]

Re: eBay: iTunes Gift Cards Selling Above Face, WHY?

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]

Re: eBay: iTunes Gift Cards Selling Above Face, WHY?

It's the easiest way to purchase goods and services without a paper trail. Big brother is always watching.

[trsent]

Re: eBay: iTunes Gift Cards Selling Above Face, WHY?

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]

Re: eBay: iTunes Gift Cards Selling Above Face, WHY?

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]

Re: eBay: iTunes Gift Cards Selling Above Face, WHY?

Also these cards are very popular in money laundering (especially overseas).... but that is one for the police forums, not GUU.