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Giftcards on ebay...I dont get it

Discussion in 'Ebay' started by flightrisk, Apr 11, 2011.

  1. flightrisk

    flightrisk Junior Member

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    Im looking over ebay for some ideas and I come across some people selling selling $500 walmart giftcards for face value. How are these people selling multiple cards and making money...I dont see it:confused:
     
  2. Kampex

    Kampex Newbie

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    Obviously they got it at a lower price. Probably stole it
     
  3. eBayMafia

    eBayMafia BANNED BANNED

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    Stuff like Walmart return scams. Some people can do a couple thousand dollars worth a month like it isn't anything. Which then turns into a more "white hat" method here:

    A lot of people on eBay will accept retail gift cards or restaurant gift cards in exchange for a small percent of what they owe. Or people will just buy Giftcards for 60% of face value. You can acquire a bunch of smaller ones (most people are interested in buying larger ones) and then you can group them together with other more commonly sold gift cards. Eventually they are sold on eBay or some other marketplace for a near face value price.

    There was someone a couple years ago that started a site in which I currently can not remember the name of, but all he pretty much did was broker these transactions and eventually sold his website for a couple million.
     
  4. apeek22

    apeek22 Registered Member

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    Check out the site plastic jungle...
     
  5. neu009

    neu009 Jr. VIP Jr. VIP Premium Member

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    yep still amazing to c how many stupid ppl are out there. I would never go thru the hassle to save $5 on a $100 or more. Way to much work and risk involved. But as you see always enough stupi ppl out there
     
  6. kingamer

    kingamer Newbie

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    Some of these cards can be fake what I mean is that you can just go to a store and pick so cards up empty cards and take them home and load cash on them your self and then use them I know is becasue I work and tesco and we get alot of these and thats how they can make money
     
  7. christoss1959

    christoss1959 Senior Member

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    I once purchased a gift card because I had a lot of money in my paypal account and wanted to purchase something from amazon (which doesn't accept paypal). It was cheaper and faster than transferring money to my bank account from paypal and then buying what I wanted from amazon.
     
  8. eBayMafia

    eBayMafia BANNED BANNED

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    I buy them when I host large parties at restaurants for my staff. When you have a $1200 bill, its pretty cool to save money that can be left for a nice size tip. So, its not really for me, its for the waiters and waitresses.
     
  9. thevil

    thevil Junior Member

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    They are
    1. Stolen/Fraud
    2. Real from Gifts

    Some are return/merchandise theft with returns, credit card/cheque fraud, etc... and sold either via people/ebay/CL and even some broker them

    Some are bought legit as a broker or through personal use. Christmas gifts, bday (but they dont want to spend money at the store and thus sold since they cannot be exchanged for money at the store). I would say more than 50% fall into #1
     
  10. flightrisk

    flightrisk Junior Member

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    I did some research via TeraPeak and in 7 days theres one seller that did $13,823, sold 33 listings and all were $500 walmart cards.

    Now as far as I know you cant buy discounted GC at walmart. Also I went to plasic jungle they had no $500 walmart GC,but when they do it looks like theres a 3% savings.

    Asfar a stealing them I dont think he is just because of the volume that he selling and he lives in Hawaii so how many can you get away with.

    He's got 100% rating over the past year so he not lying about them.

    Now heres the the big one...in the past 90days he sold $150,214 worth of GC. So with ebay and pp fees how the hell is he making money selling only $500 GC's??

    Cant be fraud....can it??

    PM me if your smirking and just dont want to post it. ;)
     
    • Thanks Thanks x 1
    Last edited: Apr 11, 2011
  11. flightrisk

    flightrisk Junior Member

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    can you buy giftcards in bulk and save $$$? still in a daze about this ^^^

    I know about the discount/clearance sites...I dont think hes getting from those.
     
  12. crsk8andsno56

    crsk8andsno56 Senior Member

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    I'm also very curious about this!

    Sometimes you actually see gift cards go OVER face value. People will get in bidding wars and get so worked up about getting beat that they'll over bid the price. I find it quite comical :p
     
  13. Dragn

    Dragn Regular Member

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    anyone ever think maybe its someone working @ the store that found a way of doing it without getting busted?

    id work minimum wage at walmart if i knew a sneaky way to load up a giftcard with 500 bucks, computer in the backroom with access to the software and no camera, catch someones computer logged in when they walk away, etc

    give him 10 minutes of unmonitored access to a computer capable of loading a card, he can easly take 10k home in plastic form
     
  14. adbot

    adbot Power Member

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    ive bought gift cards for cash (less than face value) off of friends who needed the dough. maybe a good little biz idea. set up a site to buy giftcards for like 60% face value. people pawn stuff all the time for pennies on the dollar when they are broke. might be a winner...
     
  15. neu009

    neu009 Jr. VIP Jr. VIP Premium Member

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    guys not only GC but do u know those cash cards I dont know if and what the name in the US for one of them is but those for example were sold for lets say 100 face value for 150 ... of course hacked paypal --> they get the cash card load it in an poker etc account and then the victim of the hacked account(well maybe they just say it was hacked too lol)
    gets a refund and ur out of ur money...

    ok a lil different for the GC but normally you will not get them way cheaper. you can buy them occasionally for less than face value but savings will be minimal. I for myself stay away from it as I just see too much chance of it being bought using cc fraud etc.. and u might just be the one having to explain so later if you buy more than one of that person
     
  16. DanManchester

    DanManchester Newbie

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    Hmmm very interesting, I was just reading about this on lifehacker - or rather something along similar lines - buying and selling gift cards.

    I can't post links but if you look on the lifehacker website or just google Cardnap, Plastic Jungle and CardPool there's quite a few websites making cash on trading GCs.
     
  17. SeeGoldTees

    SeeGoldTees Junior Member

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    There's sites where you can buy them for 25% less than face value, and then resell them. I don't remember the name, but you can aslo sell giftcards you don't want and people buy them. It's like eBay for giftcards.