Professor Mark J. Perry's Blog for Economics and Finance
What's going on here? The examples above of completed eBay auctions are just two of hundreds of examples of iTunes gift cards selling for more than their face value on eBay. Isn't this "gift card scalping"?
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
3 Comments:
Non-americans are able to buy stuff from the US iTunes store with gift cards but are not allowed to directly charge their non-us credit cards. Because of this $1 US-gift card credit is worth more than $1 here.
If the Norwegian iTunes store had the same content as the US iTunes store this would not be the case. The prices in the US store is generally lower as well.
Also, Microsoft is offering instant rebates of between 8-15% on some buy-it-now purchases on ebay made through the bing search site.
The eBay and Paypal fees total $11.96 for a $100 iTunes card.
The pictured seller is selling at below the retail cost to purchase from the Apple online store (to avoid sales tax), list on eBay (in the cheapest possible manner) and email the code to the buyer.
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