Why vouchers sold more than actual value?

39
Found 28th Aug 2013
I was searching ebay to buy Amazon vouchers. Very surprised to see people bidding and selling vouchers for more than face value. Example £100 Amazon vouchers for £105-110. Didn't make sense to me, as if not getting any cheaper, these can be bought from retailer in actual price, rather than paying more...

Anyone knows any reason?

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Banned

Check the ask section. This question has been asked numerous times.

Banned

It's just Ebay ijjits.

You can see loads of stuff getting sold every day for more than its new price in the shops.

I guess plenty of people don't actually go to the shops or online so don't know the market price of items.

Original Poster

ifrazalam

Check the ask section. This question has been asked numerous times.


Couldn't see any search option in ask?

because people are idiots or the system has displayed something incorrectly.

£100 gift card from amazon has free one day delivery

amazon.co.uk/Ama…1-1

£100 gift card on ebay is collection only and costs £109.99

ebay.co.uk/itm…c43



People must be thick.

Original Poster

Mark2111

£100 gift card from amazon has free one day … £100 gift card from amazon has free one day deliveryhttp://www.amazon.co.uk/Amazon-co-uk-Gift-Card-Birthday-Balloons/dp/B004Z3D63G/ref=sr_1_1?s=gift-cards&ie=UTF8&qid=1377668882&sr=1-1£100 gift card on ebay is collection only and costs £109.99http://www.ebay.co.uk/itm/100-Amazon-Gift-card-giftcard-voucher-/161094683715?pt=UK_Tickets_Trave_Vouchers_Coupons_LE&hash=item2581fdcc43People must be thick.


Agree...I thought I am missing something

http://i.imgur.com/W5RIDHi.jpg

The only possible reason I can think of is if someone needs to buy a present quickly and doesn't have any money in their bank so can't pay online at Amazon, but they have a paypal balance which would take too long to transfer the money to their bank account in order to buy the present so they use the paypal balance to buy on ebay even if it costs them more.

Other than that I can't think of any reason. Hopefully someone will post giving a better reason!

Mark2111

The only possible reason I can think of is if someone needs to buy a … The only possible reason I can think of is if someone needs to buy a present quickly and doesn't have any money in their bank so can't pay online at Amazon, but they have a paypal balance which would take too long to transfer the money to their bank account in order to buy the present so they use the paypal balance to buy on ebay even if it costs them more.Other than that I can't think of any reason. Hopefully someone will post giving a better reason!

No paypal balance now goes into your bank right away when you withdraw it

Original Poster

Mark2111

The only possible reason I can think of is if someone needs to buy a … The only possible reason I can think of is if someone needs to buy a present quickly and doesn't have any money in their bank so can't pay online at Amazon, but they have a paypal balance which would take too long to transfer the money to their bank account in order to buy the present so they use the paypal balance to buy on ebay even if it costs them more.Other than that I can't think of any reason. Hopefully someone will post giving a better reason!



That makes some sense, but intersetingly the above ebay listing seller is also refusing to accept paypal.

Original Poster

ettam123

No paypal balance now goes into your bank right away when you withdraw … No paypal balance now goes into your bank right away when you withdraw it


Thats good information, as i thought it takes 3-5 working days

Thanks ettam123, that is good to know.

So we are back to square one as to why people pay more!

Original Poster

Mark2111

Thanks ettam123, that is good to know.So we are back to square one as to … Thanks ettam123, that is good to know.So we are back to square one as to why people pay more!



As you said... Likely thick

ettam123

No paypal balance now goes into your bank right away when you withdraw … No paypal balance now goes into your bank right away when you withdraw it




horizon-in

Thats good information, as i thought it takes 3-5 working days



Well it takes 2 hours according to PayPal but yes this is now the case.

Banned

ettam123

No paypal balance now goes into your bank right away when you withdraw … No paypal balance now goes into your bank right away when you withdraw it



Incorrect [if you are savvy]. I pay my PayPal dues on my American Express card to collect the points.

theworkingdead

Well it takes 2 hours according to PayPal but yes this is now the case.



It does indeed go into your bank account more or less immediately. As it does the other way round.

I know people used to get cashback on ebay purchases so could save money buying the gift cards on there but this has now stopped so cant understand it.

Banned

fuzzydunlop

It does indeed go into your bank account more or less immediately. As it … It does indeed go into your bank account more or less immediately. As it does the other way round.



No need to involve the bank. Just use a credit card.

I can only think that there are people who can't be bothered (or just can't) setting up an Amazon account and wish to buy the voucher for someone who does.

It's also cash ONLY on collection so ideal for someone who lives nearby. (not sure they do £100 gift cards in tesco...or do they? :|)

williebiz

No need to involve the bank. Just use a credit card.



I don't have one. (a credit card) Any money I get via ebay goes straight into my bank account within seconds. That'll do me fine.

ZedEx

I know people used to get cashback on ebay purchases so could save money … I know people used to get cashback on ebay purchases so could save money buying the gift cards on there but this has now stopped so cant understand it.



It's cash only on collection so saves having to wait for delivery. (Unless you can buy a £100 Amazon gift card from a local retailer)

theworkingdead

Well it takes 2 hours according to PayPal but yes this is now the case.



It says 2 hours yet never taken more than 2 minutes for me.

Banned

fuzzydunlop

I don't have one. (a credit card) Any money I get via ebay goes straight … I don't have one. (a credit card) Any money I get via ebay goes straight into my bank account within seconds. That'll do me fine.



But when you spend on Ebay/ Paypal you can get free points using a credit card. I use Amex, you could equally well use Tesco credit card & get Tesco clubcard points. Indeed many credit cards have a loyalty scheme or offer cashback.

Still, if you don't want free stuff, your choice I suppose loflmao
Edited by: "williebiz" 28th Aug 2013

Mark2111

£100 gift card from amazon has free one day … £100 gift card from amazon has free one day deliveryhttp://www.amazon.co.uk/Amazon-co-uk-Gift-Card-Birthday-Balloons/dp/B004Z3D63G/ref=sr_1_1?s=gift-cards&ie=UTF8&qid=1377668882&sr=1-1£100 gift card on ebay is collection only and costs £109.99http://www.ebay.co.uk/itm/100-Amazon-Gift-card-giftcard-voucher-/161094683715?pt=UK_Tickets_Trave_Vouchers_Coupons_LE&hash=item2581fdcc43People must be thick.



Always amazes me how people still post blurry pictures on ebay. At least it's the right way up!

williebiz

But when you spend on Ebay you can get free points using a credit card. I … But when you spend on Ebay you can get free points using a credit card. I use Amex, you could equally well use Tesco credit card & get Tesco clubcard points. Indeed many credit cards have a loyalty scheme or offer cashback.Still, if you don't want free stuff, your choice I suppose loflmao



I'm sure many credit cards have loyalty schemes and offer cashback etc and if you're savvy (as you say) there are benefits. I still don't want one. I have a nectar card which offers a similar type of thing. I very very rarely buy off ebay anyway (_;)

Rubisco



There is a reason this post is most liked.

It contains the answer.

Think about it...

fuzzydunlop

It says 2 hours yet never taken more than 2 minutes for me.



Same here.

Just giving the official line for reference.

Im sure I read some where that some people on benefits who have trouble budgeting have to provide bank statements so show how they spend their money. They buy vouchers via ebay so it only shows paypal on the statement and they can lie about what they have spent their benefits on.

well, it would just be one of several ways you would launder the cash. plus who's to say the buyer and seller aren't the same person? then the listing is entirely false and the "same" "voucher" (if it exists beyond a grainy photo) gets rinsed hundreds of times. losing 15% to ebay and paypal fees isn't too bad a hit to make your cash legit.

Original Poster

upset brown pant

well, it would just be one of several ways you would launder the cash. … well, it would just be one of several ways you would launder the cash. plus who's to say the buyer and seller aren't the same person? then the listing is entirely false and the "same" "voucher" (if it exists beyond a grainy photo) gets rinsed hundreds of times. losing 15% to ebay and paypal fees isn't too bad a hit to make your cash legit.


I can see your point...but sounds complicated that someone will do laundering for such a small amount.

horizon-in

I can see your point...but sounds complicated that someone will do … I can see your point...but sounds complicated that someone will do laundering for such a small amount.



Multiply it by 3 listings per week.
Over 50 accounts.

That's £60,000 laundered through ebay per month with a loss of £9000.
Net = £51,000

* Laundering
* People spending eBay/Paypal gift vouchers/cards on an amazon voucher for example (as they prefer to buy off amazon?)
* Foreigners perhaps - who dont have a UK debit/credit card but want to buy on a UK site?
* Scammers who will say the card didn't arrive
* Just plain idiots caught up in the moment (should be minimal, surely)

whatsThePoint

so you think having history on ebay of buying/selling amazon vouchers is … so you think having history on ebay of buying/selling amazon vouchers is an foolproof way of laundering cash X)or are you saying they open a new ebay account every week using fake details?



of course not, and why would i be saying that? you seem to have made quite a leap of interpretation there.

whatsThePoint

so mr criminal in a few mins makes £50k in a drugs deal and then you … so mr criminal in a few mins makes £50k in a drugs deal and then you think they are going to spend hours on ebay playing about with 50 accounts X)but lets check with ebay and see how many 1000s of £100 amazon vouchers have gone for over £90 in the last 3 months, oh just 22 at a quick count



LOL.
I actually agree.
Was simply stating how something that small can be scaled.

whatsThePoint

so what you meant was if they had say £100k they are laundering £100 here … so what you meant was if they had say £100k they are laundering £100 here and there on ebay X)



There are much easier ways.

Not that I would know....



Seriously, I have nothing to do with money laundering...




Look at this great deal on a Nexus 4:
hotukdeals.com/dea…317

Phew, think that did it.

whatsThePoint

so what you meant was if they had say £100k they are laundering £100 here … so what you meant was if they had say £100k they are laundering £100 here and there on ebay X)



you are actually dim.

Ebay scammers who say the item didn't arrive.They get refunded via Paypal & then spend the voucher

gigaom.com/201…ds/

Probably not what is happening here, but some of the posts on here were hinting at laundering but couldn't explain it. The article above will explain exactly how it works and why people do it.
Edited by: "PhearFactor" 28th Aug 2013

Banned

upset brown pant

you are actually dim.



lol
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