Proof of Stupidity

[Crapshoot]

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&category=31411&item=5554900234&rd=1

[gottimd]

Is there a way to email the Highbidder and ask him/her WTF they are thinking?

[Crapshoot]

would be nice eh ? I think you can PM them on Ebay..

[digamma]

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&category=31411&item=5554900234&rd=1
There might be more to this. If you look on the current leading bidder's feedback page, the last 4 of his/her auction wins have been for amazon gift certificates. I'll be damned if I can figure out what they are trying to do, or why it would make sense to pay more than the value of the gift certificate, but there has to be some method to the madness. Maybe I'm being too nice.

[SlapBone]

And on that page is a link to this:

http://www.wikkidstuff.com/

[sabotai]

There might be more to this. If you look on the current leading bidder's feedback page, the last 4 of his/her auction wins have been for amazon gift certificates. I'll be damned if I can figure out what they are trying to do, or why it would make sense to pay more than the value of the gift certificate, but there has to be some method to the madness. Maybe I'm being too nice.

I think you're on to something. If you check the other 2 bidders, their history shows them doing the same thing. I wonder what the story is to this....

[Crapshoot]

Interesting...

[Crapshoot]

An elaborate bid inflating or money laundering scheme ? Who knows..

[Joe]

people buy gift cards on ebay with stolen funds.

[gottimd]

people buy gift cards on ebay with stolen funds.

I would figure that there are better things to bid on with Stolen funds then a gift certificate.

[Axxon]

people buy gift cards on ebay with stolen funds.

Anything you want to get off your chest Mr. President? :)

Actually, that's a pretty good idea. Are the sellars in on the scam or are they just aware of it and taking advantage?

[Axxon]

I would figure that there are better things to bid on with Stolen funds then a gift certificate.

Gift certificates are fluid though. They can easily be switched into cash quickly if you're willing to sell at a discount. You get the stolen money out of the community and then you buy whatever you want with no risk, with clean money and no paper trail.

[sabotai]

Interesting that most of the sellers only accept PayPal. If it stolen money, I wonder if it's using PayPal accoutns that have been hacked or not.

[Axxon]

Interesting that most of the sellers only accept PayPal. If it stolen money, I wonder if it's using PayPal accoutns that have been hacked or not.

Probably.

Reminds me of a guy I once knew who worked at American General. He was imbezzeling from them big time and he was eventually caught but not before he had enough money to buy the best lawyers who kept him out of prison.

Anyway, one of his money laundering schemes was that he pilfered a neighbors mail and got an offer for a credit card. He simply changed the address on the mailing and got the card. He paid it on time every month so he was helping the guys credit but he was paying it with the money he was stealing from the escrow checks he was cashing.

As far as I know, this money was never even remotely recoverable. I only knew this guy extremely remotely but I did draw attention from the feds because I'd gone to a mutual friends sisters house on a night he was there and the house was under surveillance.

Scary, scary stuff and I never even saw a dime or knew what was going on until after the fact.

[JonInMiddleGA]

Apparently the fraud involving giftcards on eBay has gotten to be pretty big.
I first heard the story reported by Clark Howard (radio consumer advice guru) but can't find the details of the recent study he mentioned.

This article linked below mentions similar figures, though from a smaller study than the one I first heard about. Basically, over half the gift cards on eBay are either a)stolen, b)bought with a stolen credit card & re-sold online, or c)expired, forgery, etc., worthless to the buyer for whatever reason.
http://www.washingtonpost.com/wp-dyn/articles/A51741-2005Jan5_2.html

[Axxon]

Apparently the fraud involving giftcards on eBay has gotten to be pretty big.
I first heard the story reported by Clark Howard (radio consumer advice guru) but can't find the details of the recent study he mentioned.

This article linked below mentions similar figures, though from a smaller study than the one I first heard about. Basically, over half the gift cards on eBay are either a)stolen, b)bought with a stolen credit card & re-sold online, or c)expired, forgery, etc., worthless to the buyer for whatever reason.
http://www.washingtonpost.com/wp-dyn/articles/A51741-2005Jan5_2.html

Yeah but none of those possibilities explain paying more than face value for the card which is what is happening here.