In holiday season, you get plenty of gift cards amongst which there are few you will never want to use. Gift card bought from specific retailer with card’s face value means you can use it at that mentioned store or at times with their affiliated business. Gift card is good for maximum 5 years from purchase date but it is advised to use them as soon as possible.
Maybe you got a gift card, when you returned a merchandise or received a birthday gift card from Old Aunt Maggie to a store, you never visit [she is not aware about this]. Even your friends avoid the store, so you cannot re-gift it to them.
Fortunately, Alma School Pawn store buys gift card. Rather than throwing it among the junk pile, you can use the money to buy something interesting. You can even tell your Aunt Maggie that you bought some good things with the gift card, she so lovingly gave you.
Why pawn shops purchase gift cards?
Gift card gets sold for less price than its place value. It is beneficial for both seller and pawn store owner. For example, Rita gets gift card on her birthday from her friend. It is $99 Home Depot discount gift card. She is not a fan of Home Depot, so she sells it to the pawn shop for $59. Thus, she is satisfied to get cash rather than allowing the gift card to junk in the drawer and use it to buy something she is interested in.
The pawn shop sells the gift card to some customer for $79 thus earns a profit of $20. The other customer, who bought the gift card at low price $79 gets to buy merchandise at the Home Depot for $99 [gets more amount for buying items]. Thus, it is a win-win situation for everyone involved.
You sell it at 60% less than face value because you desire to get some cash from the card, which is basically useless for you. The pawn shop is in business, so they keep a margin to earn profit from the gift card. They sell it at a profit of 20%. The profit margin pawn shop expected to earn is fair and reasonable.
Tips to sell gift cards at the pawn shop
- Call in advance to find out if they buy gift cards and at what price.
- Gift card lose values, so sell it within a month from the day it got issued to get good value.
- Offer printout of gift card value because pawn shop will need it for verification.
You can have good success trying to sell gift card with the above tips.