Yes, there are several technical aspects to making money from the purchase and sales of gift cards.
> For instance, you would ideally want gift cards that are more valuable in the market. But acquiring them won’t be cheap. Adequate calculation must be done to ensure optimized returns.
> Similarly, selling one or a few gift cards every time as opposed to selling in bulk would yield lower returns. You must calculate carefully so to ensure good accumulated profit.
> The transfer of your money, depending on the channel or way it’s done, may come with a fee, which can undercut your profit margin. This should be well undertaken in the calculation.
So, this process demands a lot of number-crunching. But then that’s not what the common pro tips revolve around. If you want to get enough cash for gift cards, there are things other than the numbers and the technical aspects that you should attend. In that context, here are 3 pro tips to make money flipping gift cards:
1. Focus first on the purchase, not sales– There are two ways to increase your profit margin. One, by selling the gift cards at a higher price. Second, by buying the cards at a lower price. Your primary focus should be on purchasing gift cards at the lowest possible price. To find such an appealing deal, you’ll have to scour through many US online gift cards exchanges and platforms. Do it! Find gift cards that are sold at a good discount.
Here’s a recommended read: 5 Tips to Buy Discounted Gift Cards (And Sell Them High Price)
2. Look at multiple buyers– Don’t just sell at one buyer no matter how much you like them. In fact, in this department, just like you look at several places when buying gift cards, the same approach should be followed when selling gift cards. Instead of having a go-to buyer, you should continuously look at other platforms, websites or exchanges that may offer you a better deal. So, when it comes to selling, look at different buyers every time and go with one (or more) who is offering you the highest value.
3. Take your time to do enough research– Much like every other way to make side-income, even this one requires hard work and consistency. Doing enough research is a part of the requisite. You must spend enough time in doing research; research on which gift cards are in demand, which one is selling at a higher value, whose value will increase in the coming weeks, what is the existing selling price of your gift cards, which platform is offering good discounts on the sales of gift cards, and more. The more informed you are, the more profitable decisions you are likely to make.
These are three pro tips to make money flipping gift cards. While the process is simple and straightforward, scoring high profit is far from easy. Here are a few articles that will help you in that process: