Gift cards have become a popular gift option, allowing recipients to choose their own items from their favorite stores or online retailers. However, sometimes gift cards can go unused or expire, leaving the holder with a piece of plastic that holds little value. Fortunately, there are ways to sell gift cards and receive a maximum cash return. In this article, we will explore the best methods for selling gift cards and provide tips on how to get the most cash back.
Understanding Gift Card Resale Market
The gift card resale market is a booming industry, with millions of dollars’ worth of gift cards being bought and sold every year. Websites and apps have emerged to facilitate the buying and selling of gift cards, offering a convenient way for individuals to turn their unused or unwanted gift cards into cash. Popular platforms like Raise, Cardpool, and GiftCardGranny have made it easy for sellers to list their gift cards and connect with potential buyers.
Types of Gift Cards in Demand
Certain types of gift cards are more in demand than others, and understanding which ones are the most sought after can help sellers get the best price for their cards. Physical gift cards and e-gift cards are both popular, but brand-specific gift cards tend to be more valuable. For example, gift cards from Amazon, Walmart, and Target are highly sought after, as they offer a wide range of products and can be used online or in-store.
| Gift Card Type | Average Resale Value |
|---|---|
| Amazon Gift Card | 90-95% of face value |
| Walmart Gift Card | 85-90% of face value |
| Target Gift Card | 80-85% of face value |
| Restaurant Gift Card | 70-80% of face value |
Methods for Selling Gift Cards
There are several methods for selling gift cards, each with its own advantages and disadvantages. Online marketplaces like Raise and Cardpool allow sellers to list their gift cards and set a price, while in-person kiosks like Coinstar offer a convenient way to exchange gift cards for cash. Mobile apps like GiftCardGranny and Raise also provide a platform for buying and selling gift cards on-the-go.
Online Marketplaces
Online marketplaces are a popular way to sell gift cards, offering a wide range of benefits, including convenience, flexibility, and competitive pricing. Sellers can list their gift cards and set a price, and buyers can browse and purchase cards from various sellers. Top-rated platforms like Raise and Cardpool offer a secure and reliable way to buy and sell gift cards.
- Pros: Convenient, flexible, and competitive pricing
- Cons: Fees may apply, and seller must wait for buyer to purchase
Maximizing Cash Return
To maximize the cash return when selling gift cards, it’s essential to research the market and understand the demand for specific types of gift cards. Sellers should also compare prices across different platforms and negotiate the best deal possible. Additionally, using discount codes or promotions can help increase the resale value of the gift card.
What is the best way to sell a gift card?
+The best way to sell a gift card depends on the type of card and the desired level of convenience. Online marketplaces like Raise and Cardpool offer a convenient and flexible way to sell gift cards, while in-person kiosks like Coinstar provide a quick and easy way to exchange cards for cash.
How can I get the most cash back for my gift card?
+To get the most cash back for your gift card, research the market and understand the demand for specific types of gift cards. Compare prices across different platforms, negotiate the best deal possible, and use discount codes or promotions to increase the resale value of the gift card.
In conclusion, selling gift cards can be a great way to turn unused or unwanted cards into cash. By understanding the gift card resale market, types of gift cards in demand, and methods for selling gift cards, individuals can maximize their cash return. Whether using online marketplaces, in-person kiosks, or mobile apps, sellers can find a convenient and reliable way to exchange their gift cards for cash. With the right strategies and knowledge, individuals can get the most cash back for their gift cards and make the most of their unwanted cards.
