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Year of Yummm Reselling Results – Turned Out To Be Easy $$$
Last year Red Robin had what looked to be a pretty amazing deal. They were offering a year’s worth of gift cards at a discount. They called it the year of yummm. This deal was only live for a few hours and I jumped on it without really knowing how it would work. It ended up working pretty well and here are my year of yummm reselling results.
Details of the Offer
Red Robin was offering a $15 gift card on the first of every month for a year ($180 in total) for $99. You could buy up to 8 of these or $1,440 in gift cards for $792. The public resale rates for their gift cards were in the 75% range when the deal came out.
I wasn’t sure if they were actual gift cards or just dining vouchers that couldn’t be resold. Because of that I only decided to order 3 sets, huge mistake! I was worried about getting stuck eating $1,440 at Red Robin.
Because of the unknown aspects of the deal I purchased 3 sets at $99 a piece for a total $297. Then on the first of each month I would receive and email with 3 – $15 gift cards in them. Once I saw that they were actual gift cards I was relieved but also upset that I didn’t purchase more.
Over the 12 months the sale price would vary some but I ended up selling the $540 in gift cards for a total of $424.88. That is a average of 78.7%, slightly better than the current public rates.
My net profit over the year was $127.88 for a rate of return of 43%.
This was one of the easier deals I have done. It did take a long time to recoup my investment which could be a turn off for some (almost as long as ticket reselling). Had I done the full amount of 8 I would have made a profit of $341.28. Looking back I am upset I didn’t purchase more and get some for my wife as well.
But, the number one rule of reselling is never put in more money then you are comfortable with losing, or eating in this case. Sadly, it doesn’t look like Red Robin is bringing the offer back this year.
Did you take a part in this deal? Let me know your thoughts on it in the comments.
Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.