When selling gift cards online, finding the right price is key. If you price them too high, buyers will be less likely to buy them. And if you price them too low, you may not make as much money as you could. So how do you find the sweet spot? In this article, we’ll outline six steps to set the right price for your gift cards!
Step #01: Find Out The Value of Your Cards
The first step is to find out how much your gift cards are worth. This can be done in a few ways:
– Look up the value of the card on the card issuer’s site
-Alternatively, you can call the card issuer’s customer service and ask for a balance check
Once you know how much your cards are worth, you can move to the next step.
Step #02: Decide on a Price Point
Now that you know how much your gift cards are worth, it’s time to decide on a price point. This is where you should take into consideration what your goal is. Do you want to maximize profit or make a quick sale?
If you want to maximize profit, you may want to set a higher price point (depending on how much demand there is for that particular card in question). However, if you’re looking to make a quick buck, you may want to consider setting a lower price point.
That said, be realistic with your pricing. You don’t want to set a price so low it devalues your gift cards, or so high buyers won’t be interested.
Step #03: Research What Other Sellers are Charging
Once you have an idea of what you would like to charge for your gift cards, research what other sellers are charging. This will give you a good idea of your cards’ market value.
Step #04: Determine If There’s Demand
Once you have an idea of what other sellers are charging, it’s time to determine if there is a demand for your cards. This can be done by searching on Google or social media. If there is low demand, it may be wise to price your gift cards a little lower than the competition. However, if there is a high demand, you can set your prices higher.
Step #06: Price Your Cards Accordingly
Now that you have a general idea of what different gift cards are worth and which ones are in the highest demand, it’s time to price your cards accordingly! Again, it’s best to start low and increase prices if necessary. This way, you won’t scare buyers away, and you can still make a profit if the card is in high demand.
Convert Gift Cards Into Cash With EJ Gift Cards
If you have gift cards you want to sell, you’re in the right place. We are always looking for gift cards to buy. Submit the face value of your card, and we’ll make an offer.