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A New Gift Card Reselling Tool
I know I have been writing a lot about gift cards lately, but there is a lot of opportunity right now in that space and thus I am excited about it. I also find that it is best to stay on top of trends and to take advantage of profitable opportunities when they arise.
In my beginner’s post to gift card reselling (and later in Noah’s more advanced post) one of the topics covered was comparing rates across a variety of resellers. I specifically mentioned using Gift Card Granny, since they do a fairly good job of keeping up to date on rates, but I have found a better resource.
Gift Card Wiki is Awesome
Thanks to a tip from a reader, last week I found a site called Gift Card Wiki. Much like Gift Card Granny, Gift Card Wiki compares rates for both buying and selling gift cards. You can see how much the discounts are on the buying side and how much each of the major resellers will give you if you sell a card to them.
Gift Card Wiki has three main advantages:
- Cleaner design
- Historical data
- Data is refreshed hourly
This first point is more of a personal preference, but I like the way Gift Card Wiki looks. The design is clean and it looks far nicer than the dated Gift Card Granny site. It also has a number of useful filters which help to narrow down the data you want. There is A LOT of functionality if you dig around.
Speaking of data, Gift Card Wiki charts two key statistics. First, they keep historical data on the discount % of gift cards on the market. If you see a card that is normally discounted 10% but now is only discounted 5%, then it is probably a good card to buy since inventory is most likely scarce. Of course it also helps you find which cards to avoid.
Secondly, the site keeps track of the total dollar value of cards available on the market for a specific merchant. You can now easily see if a flood of cards has hit the market and determine if resell rates are thus going to drop. The best thing about this data is it is so easy to read.
Data Is Refreshed Hourly
I can’t tell you how many times I have seen a rate on Gift Card Granny and clicked through to find that it is wrong. In the competitive gift card marketplace, rates change all of the time. Since Gift Card Wiki is refreshed hourly, it seems to be more accurate. While my experience with the site is limited, I haven’t found one error yet.
I was so happy to find Gift Card Wiki and it is definitely a tool that I use everyday now when looking at gift card rates. Hopefully they will continue to innovate, since the service and their use of data is extremely helpful.