Why buy giftcards?

[datpo]

I see so many people on here buying giftcards at like 50-90% of their value. I've looked at exchange sites and can't find a reason at why people buy them. If someone could pm me the reason that would be appreciated

 

[NeedTrainin]

People buy them probably because they need something from wherever the GC is and want to save some money. Or they may be able to re-sell to others for a profit due to their reputation.
People sell them to just get quick cash from an unwanted GC.

 

[datpo]

People buy them probably because they need something from wherever the GC is and want to save some money. Or they may be able to re-sell to others for a profit due to their reputation.
People sell them to just get quick cash from an unwanted GC.

Well I know you can resell on ebay or giftcard sites for maybe like a $.1-$2 profit, but what's the point of that for a $50 gift card? Also, I understand the buying for less, but why buy giftcards from a certain company if they don't need it? I feel like there is some secret method aha:laugh:

 

[NeedTrainin]

Well, it's all about margins. If you can buy GC's for 50-55% and then resell them for 70-75% thats a 20% increase which on a $50 GC is $10 profit.
They usually buy popular gift cards that have a high demand (ie; Amazon, Best Buy, Target) where people can find pretty much anything they need.

Others probably just buy for personal use to get things for cheaper.

 

[datpo]

Well, it's all about margins. If you can buy GC's for 50-55% and then resell them for 70-75% thats a 20% increase which on a $50 GC is $10 profit.
They usually buy popular gift cards that have a high demand (ie; Amazon, Best Buy, Target) where people can find pretty much anything they need.

Others probably just buy for personal use to get things for cheaper.

The problem with the first idea is how can you be sure the other person won't use the giftcard without using the code on an account? The second idea is reasonable of course.

 

[NeedTrainin]

Some people do have bulk and or constant suppliers who are reliable.
Or, the person may simultaneously find a buyer for the GC while in the process of buying it, and then just act as a middleman that makes some profit

 

[Krillex]

The problem with the first idea is how can you be sure the other person won't use the giftcard without using the code on an account? The second idea is reasonable of course.

1. Buy something new with giftcard
2. Sell on ebay for like 95% value if its unpackaged.
3. Profit

 

[datpo]

1. Buy something new with giftcard
2. Sell on ebay for like 95% value if its unpackaged.
3. Profit

I've been thinking about that, but you can't do that with an itunes gift card haha. Amazon of course. Buy a $200 gc for like $150 (idk) and boom $50 profit or so.

 

[whaatitdo]

They buy for cheap, sell higher. It's not a huge profit maker, but it is some. Only reason why many people don't do it is because there are experienced fake gcers that burn holes into profits. Plus it is a hard middleman job to do for, with all the risks.

 

[datpo]

They buy for cheap, sell higher. It's not a huge profit maker, but it is some. Only reason why many people don't do it is because there are experienced fake gcers that burn holes into profits. Plus it is a hard middleman job to do for, with all the risks.

true true. I just feel like there is some secret with selling for full value or something. Not sure why.

 

[video]

There's no secret. I've bought thousands in gift cards on sythe, itunes included. Typically you just buy from the larger retailers, target, best buy, amazon, walmart as these are places you're likely to find whatever it is you want to buy. When I buy giftcards, I pay the seller after I place an order using the gift card to prevent them using it later. Some gift cards just go into your balance so you don't need to use them right away

 

[datpo]

There's no secret. I've bought thousands in gift cards on sythe, itunes included. Typically you just buy from the larger retailers, target, best buy, amazon, walmart as these are places you're likely to find whatever it is you want to buy. When I buy giftcards, I pay the seller after I place an order using the gift card to prevent them using it later. Some gift cards just go into your balance so you don't need to use them right away

gotcha

 

[Tbo]

Well I know you can resell on ebay or giftcard sites for maybe like a $.1-$2 profit, but what's the point of that for a $50 gift card? Also, I understand the buying for less, but why buy giftcards from a certain company if they don't need it? I feel like there is some secret method aha:laugh:

Sometimes it's from a present and people rather money than having to go to a store that they may not even like.

 

[meerkatlady]

Some people might use them for personal use.

E.g. if I know I wanted an item from Amazon for $100, then I could buy the gift cards online for like $50-70 then buy the item.

 

[LeagueSmurfs]

Either personal use or they do it to get easy reputation.

 

[Gold Swapper]

its just portable

 

[Void kills]

Say you're buying something from iTunes and the item costs $50.
Now say that someone on sythe was selling a $50 iTunes gift card for $25.
Pretty self explanatory