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...m=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]

Unless someone's using eBay gift cards?

[ferro39]

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]

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]

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

[CampWest]

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]

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]

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]

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]

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.