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Ask HN: On eBay, $50 Amazon gift cards are selling for $80-85.What am I missing?

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Ask HN: On eBay, $50 Amazon gift cards are selling for $80-85.What am I missing?

#1

Post by masonic »

Here is an item I just came across: a $50 Amazon gift card at a fixed price of $85.

That in itself is not the ridiculous part; some people can be tricked into overpaying for anything once in awhile. (Lincoln: "You can fool some of the people...")

But there have already been 4 sales via this listing at $80 or $85 each!

http://offer.ebay.com/ws/eBayISAPI.dll?ViewBidsLogin&item=282876678114&rt=nc&_trksid=p2047675.l2564

(You can click on the Item Link to the right to see the original listing.)

What am I missing? Really clumsy money laundering?

Re: Ask HN: On eBay, $50 Amazon gift cards are selling for $80-85.What am I missing?

#3

Post by zimou13 »

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Re: Ask HN: On eBay, $50 Amazon gift cards are selling for $80-85.What am I missing?

#4

Post by damm »

So yes you can sell your Amazon Gift cards; there's a market place for people selling used cards.

https://wellkeptwallet.com/sell-amazon-gift-card-for-cash/

Why else would you spent 500$ for a 300$ Gift card so you can get the card now to turn around and sell it for 250$

The profit!

Re: Ask HN: On eBay, $50 Amazon gift cards are selling for $80-85.What am I missing?

#5

Post by freelunch »

MBCook wrote: post #2

They may be being used for money laundering.

Money laundering is definitely a possibility since you can buy amazon gift cards directly from PayPal. I also think some items (not necessarily these gift cards) are being used as placeholder items for a product or service (drugs, etc). For instance I saw a very commonly available $2 bottle of salad dressing go for $20 the other day. I was intrigued and saw that a lot of items from the seller had sold for mulitples of their market value.

Re: Ask HN: On eBay, $50 Amazon gift cards are selling for $80-85.What am I missing?

#6

Post by gt_ »

freelunch wrote: post #5
MBCook wrote: post #2

They may be being used for money laundering.

Money laundering is definitely a possibility since you can buy amazon gift cards directly from PayPal. I also think some items (not necessarily these gift cards) are being used as placeholder items for a product or service (drugs, etc). For instance I saw a very commonly available $2 bottle of salad dressing go for $20 the other day. I was intrigued and saw that a lot of items from the seller had sold for mulitples o…

This is interesting. I would expect eBay fees to crontradict the utility.

Re: Ask HN: On eBay, $50 Amazon gift cards are selling for $80-85.What am I missing?

#7

Post by paulcole »

gt_ wrote: post #6
freelunch wrote: post #5

Earlier quoted context omitted.

Money laundering is definitely a possibility since you can buy amazon gift cards directly from PayPal. I also think some items (not necessarily these gift cards) are being used as placeholder items for a product or service (drugs, etc). For instance I saw a very commonly available $2 bottle of salad dressing go for $20 the other day. I was intrigued and saw that a lot of items from the seller had sold for mulitples o…

This is interesting. I would expect eBay fees to crontradict the utility.

How much does your money launderer charge?

Re: Ask HN: On eBay, $50 Amazon gift cards are selling for $80-85.What am I missing?

#9

Post by jackone43210 »

dmarlow wrote: post #8

For what you lose on each one, you can make up for in volume.

Well I know for sure that a lot of prostitutes accept Amazon cards as payment for minor services and prefer those to be transferred electronically (as code).
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