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I was looking to get wifey some Coach gift cards, and looked on eBay, but noticed the bid value for some of these cards is over the actual value. Am I missing something?  Example

http://www.ebay.com/itm/100-Coach-New-York-Gift-Card-NEW-Never-U...

 

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Beat me to it.  IBTL

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Many of such sales are never actually/successfully completed with payment. 

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scripta said:   Yes, you are missing a long history of people asking this question here.

https://www.fatwallet.com/forums/online-auction-info/690990
https://www.fatwallet.com/forums/online-auction-info/918029
https://www.fatwallet.com/forums/deal-discussion/952986
https://www.fatwallet.com/forums/deal-discussion/1053811
https://www.fatwallet.com/forums/finance/1062545

  Are 5-10 year old links still useful here? Seems like a legit question from OP so I messaged the seller in the eBay listing mentioned. No reply yet.

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atikovi said:   Are 5-10 year old links still useful here?Did you read them and conclude that they're not useful? Or is that just poorly executed sarcasm?

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scripta said:   
atikovi said:   Are 5-10 year old links still useful here?
Did you read them and conclude that they're not useful? Or is that just poorly executed sarcasm?

  Read the first link from 2007. Things change after nearly 10 years. Savings accounts from 2007 were paying 5%. Not sure how useful it would be to post a link for a bank offering those rates in 2007, but OK. Just didn't see why OP got red for the question.

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​I personally welcome recurring questions on interesting topics because somebody might be nice enough to update the subject with current news and summarize what was said in the past in a quick and concise post. For these reasons, I hate the "did you search" crowd, except for the really beaten to death topics.

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A scam is always gonna be a scam. The essence of a scam doesn't change. Comparing gift card scams on e*bay to savings accounts is like comparing apples to oranges.
To the OP, those gift cards listed on e*bay are most likely stolen or the credit cards used to pay for them are most likely stolen. Most of the time, the highest bidders are from overseas trying to scam the sellers by using stolen credit cards. Most often, the winner of the auction would request gift card serial # and PIN emaied for convenience, drain the card and file a dispute for item not received. Caveats emptor.

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Obviously, it's buy low, sell high.

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megatard said:   ​I personally welcome recurring questions on interesting topics because somebody might be nice enough to update the subject with current news and summarize what was said in the past in a quick and concise post. For these reasons, I hate the "did you search" crowd, except for the really beaten to death topics.I didn't ask if he searched, I did the search and provided the links. Also I didn't red. Still hate me? There are no current news and no updates -- if a gift card sells above face value, then someone is likely getting screwed -- the buyer, the buyer's credit card, the buyer's victim and the seller, or the seller's victim. The only way it could be legit is if the buyer is really dumb (what maths?) or really smart and controls both sides (arbitrage!), but that should be done via BIN, not auction.

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scripta said:   
megatard said:   ​I personally welcome recurring questions on interesting topics because somebody might be nice enough to update the subject with current news and summarize what was said in the past in a quick and concise post. For these reasons, I hate the "did you search" crowd, except for the really beaten to death topics.
I didn't ask if he searched, I did the search and provided the links. Also I didn't red. Still hate me? There are no current news and no updates -- if a gift card sells above face value, then someone is likely getting screwed -- the buyer, the buyer's credit card, the buyer's victim and the seller, or the seller's victim. The only way it could be legit is if the buyer is really dumb (what maths?) or really smart and controls both sides (arbitrage!), but that should be done via BIN, not auction.

  
​Sorry, I didn't mean to offend you, your response was definitely not the usual type that I was ranting about, your response actually took time and research and provided useful link.  I should have been more careful to direct my reply at the short and rude types. My apologies.

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