π‘ The gift card resale market exists because cash is the only truly "universal" currency, and buyers are always willing to trade liquidity for a discount.
People planning a large purchase (like a new appliance or laptop) will buy gift cards for cash to effectively shave 5% to 20% off the total cost.
Finally, it is important to recognize that the "sellers" in this equation are often people in need of immediate liquidity. Whether a gift was poorly matched to their interests or they are facing an unexpected bill, the ability to find a buyer willing to pay cashβeven at a lossβprovides a financial flexibility that the plastic cards themselves do not offer.
If you are looking to sell a card and want to find the best rates:
Individuals who use gift cards as a way to "pre-pay" for recurring expenses like gas or groceries while saving money in the process. Arbitrageurs and Resellers