Personal Finance

Portfolio

Watch List

Baystreet School

Prime Rates

GIC Rates

Deposit Account Rates

Compare Mortgage Rates

Compare Credit Cards

Save Money Using Gift Card Arbitrage

In a world where many of us will check the prices of an item on Amazon.com before buying it in a regular store, I’m constantly surprised we don’t spend more time checking eBay.

I’ve saved as much as 20% or 30% buying the same (brand new) item off eBay versus Amazon. The last thing I bought even came in an Amazon box.

Another strategy people can do is buy discounted gift cards on eBay to stores they know they’ll be shopping at anyway.

One example is a recent sale I saw in the deals section of the site. A powerseller was offering $200 in gasoline gift cards for $195, plus a card that gives the buyer $0.05 off per liter for 500 liters. It’s the equivalent of buying $225 worth of value for $195.

Some deals are even better. I spent a couple of minutes cruising the site for deals, where I found $25 iTunes gift card for $20 and $75 on a Starbucks gift card for $65. Each of these cards were offered from sellers with dozens of positive reviews, and would be shipped to your door for free.

Restaurant and speciality retailer gift cards commonly go for anywhere from 10% to 25% off their stated value because people who get them as gifts would much prefer the cash.

It might not seem like much, but a few dollars here and there buying the things you buy anyway will really add up. And it’s not like gift cards take up much real estate in your wallet.