{"id":1283,"date":"2021-04-05T05:00:00","date_gmt":"2021-04-05T11:00:00","guid":{"rendered":"https:\/\/milesearnandburn.com\/?p=1283"},"modified":"2023-04-18T14:37:36","modified_gmt":"2023-04-18T20:37:36","slug":"gift-card-reselling-status-check","status":"publish","type":"post","link":"https:\/\/milesearnandburn.com\/index.php\/2021\/04\/05\/gift-card-reselling-status-check\/","title":{"rendered":"Gift Card Reselling Status Check"},"content":{"rendered":"<p>The Gift Card reselling market usually sucks during the first couple of months of a year, prolly because consumers are detoxing with a hangover from holiday shopping and aren\u2019t sick of their new toys (yet). The hangover is ending now though and the gift card secondary markets are really starting to pick up. A few of my observations for April:<\/p>\n<ul>\n<li>Consignment sale holding time has shortened considerably, with the turn-around time dropping to one to three weeks for big retail brands (exceptions: Home Depot, Target)<\/li>\n<li>Appetite in private markets for volume gift card sales is soaring, kinda like <a aria-label=\"PLBY stock (opens in a new tab)\" class=\"ek-link\" href=\"https:\/\/finance.yahoo.com\/quote\/PLBY\/chart?p=PLBY#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--\" rel=\"noreferrer noopener\" target=\"_blank\">PLBY stock<\/a><\/li>\n<li>BestBuy gift card resale rates are creeping back up (I\u2019ve seen 1-2% higher in the last couple of weeks, and break even deals when grocery rewards are included)<\/li>\n<li>Capacity for immediate\/non-consignment sales in gift card clubs is growing<\/li>\n<\/ul>\n<p>Retailers are also starting to offer big discounts for Easter, and usually this trend just continues to pick up steam until mid-Summer.<\/p>\n<p>If you don\u2019t have any gift card reseller relationships, there are a few good exchanges out there. Stick with something reputable, good volume, and a good reputation in the community. There are a couple of gift card sellers that I have gotten to know personally and that I trust with bigger volume. That said, always keep your outstanding float in gift cards no higher than the dollar amount you\u2019d be willing to lose if everything went wrong, and spread out your reselling amongst as many reputable sources as you can so if one fails, your whole portfolio isn\u2019t gone. (c.f., <a aria-label=\"The Plastic Merchant (opens in a new tab)\" class=\"ek-link\" href=\"https:\/\/www.courtlistener.com\/recap\/gov.uscourts.moeb.430379\/gov.uscourts.moeb.430379.1.0_2.pdf\" rel=\"noreferrer noopener\" target=\"_blank\">The Plastic Merchant<\/a>, which went bankrupt in 2019 and left resellers holding the bag)<\/p>\n<p><em>MS note<\/em>: In the right circles, you can easily do $30-60k of gift card reselling per week after you\u2019ve developed relationships and moved into inner circles, so don\u2019t ignore this technique. Do start out with something really small and slowly ramp over time though, so if you make newbie mistakes they don\u2019t cost you much. As always \u2014 don\u2019t push this beyond the amount you\u2019d be willing to lose if something goes wrong. It can happen and has happened.<\/p>\n<div class=\"wp-block-image is-style-editorskit-rounded\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" alt=\"\" class=\"wp-image-1288\" height=\"313\" loading=\"lazy\" sizes=\"auto, (max-width: 420px) 100vw, 420px\" src=\"https:\/\/milesearnandburn.com\/wp-content\/uploads\/2021\/04\/bestbuy-gcs.png\" srcset=\"https:\/\/milesearnandburn.com\/wp-content\/uploads\/2021\/04\/bestbuy-gcs.png 420w, https:\/\/milesearnandburn.com\/wp-content\/uploads\/2021\/04\/bestbuy-gcs-300x224.png 300w\" width=\"420\"\/><figcaption>The worst part of gift card reselling: having a bunch of plastic cards floating around that you can\u2019t get rid of (\u201cjust in case\u201d), but serve no useful purpose.<\/figcaption><\/figure>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Gift Card reselling market usually sucks during the first couple of months of a year, prolly because consumers are detoxing with a hangover from<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_editorskit_title_hidden":false,"_editorskit_reading_time":2,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","footnotes":""},"categories":[53,12,56],"tags":[],"class_list":["post-1283","post","type-post","status-publish","format-standard","hentry","category-gift-cards","category-ms-hints","category-wisdom"],"_links":{"self":[{"href":"https:\/\/milesearnandburn.com\/index.php\/wp-json\/wp\/v2\/posts\/1283","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/milesearnandburn.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/milesearnandburn.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/milesearnandburn.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/milesearnandburn.com\/index.php\/wp-json\/wp\/v2\/comments?post=1283"}],"version-history":[{"count":9,"href":"https:\/\/milesearnandburn.com\/index.php\/wp-json\/wp\/v2\/posts\/1283\/revisions"}],"predecessor-version":[{"id":7321,"href":"https:\/\/milesearnandburn.com\/index.php\/wp-json\/wp\/v2\/posts\/1283\/revisions\/7321"}],"wp:attachment":[{"href":"https:\/\/milesearnandburn.com\/index.php\/wp-json\/wp\/v2\/media?parent=1283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/milesearnandburn.com\/index.php\/wp-json\/wp\/v2\/categories?post=1283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/milesearnandburn.com\/index.php\/wp-json\/wp\/v2\/tags?post=1283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}