by Nate Wooley | December 11, 2012 10:17 am
The $450 limited-edition gift card offered by Starbucks (NASDAQ:SBUX) is selling at a stiff mark-up on eBay (NASDAQ:EBAY).
The card — which is made of steel and comes with $400 worth of credit — was sold through gilt.com last week. Even though the card costs $50 more than its value, it still sold out in six minutes on the upscale website.
Now, the cards are selling for more than double their original cost on auction site eBay, CNN reports. A winning bid last Saturday bought a card for $1,074. As of Tuesday morning, eBay featured three pages of cards for auction with asking prices ranging from $400 all the way to $5,000.
Even with the cards selling out so quickly, Starbucks says it has no plans to issue any more. The company says the card, with its steel-etched surface, costs more than $50 to manufacture.
The cards do come with access to the Starbucks Rewards Gold program. Those who have the card receive special offers and free food and beverages over time.
Source URL: http://investorplace.com/2012/12/limited-edition-starbucks-card-selling-for-1000-on-ebay/
Short URL: http://investorplace.com/?p=275295
Copyright ©2013 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.