In the last few weeks, there have been a giant flood of cheap gift cards. The secondary markets are flooded from entrants like you and I. A few weeks ago I posted about an Exxon deal. I declared that it was an easy money maker. It’s unfortunate I don’t have a screen shot of Exxon listed on Giftcard Granny, but I took one today:
Almost everyone were buying it at 92%, but now it’s from the mid 80%’s to some and one at 92% because of the huge supply hitting the exchanges. For whatever reason, Giftcard Granny hasn’t updated Cardpool. Here’s my bulk rate:
And here’s Cardpool if you were trying to sell without logging in to see that they’re buying it less than that from everyone else.
Now we mix in the deal in the last few weeks from Staples two times. Once that I wrote about for administrative assistants day and Chuck covered on Doctor of Credit and the news that Money Metagame broke out with Safeway on Gap family gift cards.
Here’s a screenshot I compiled at the end of April for Gap:
Here’s a screen shot from today and if we look at SaveYa who previously was the best exchange to sell on has dropped the rate 5%:
With these awesome deals every week, you might think I’ll wait until I stop buying and sell all at once, I don’t recommend it due to the unprecedented sales from vendors all over the place and the exchanges will reduce the rates, even for good brands like Exxon. Fortunately, if you are a bulk seller all of the exchanges will give you advanced notice of a rate change so you won’t be caught flat footed. But if you’re not, sell, sell, sell!
If you’re not part of the bulk sales, these decreases in the rates will be effective immediately, so sell as fast as you can.