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Daily Deal Sites Secondary Market

Posted By Miranda Marquit On 12/08/2011 @ 12:06 pm In Frugal Living | 1 Comment

These days, there is a secondary market for just about everything. You can find gift cards with unused balances remaining, and buy them for less than the face value. And, with the advent of daily deal sites [3], it makes sense that a secondary market has sprung up around them as well.

However, before you go looking for discounted daily deals, it’s a good idea to keep these things in mind:

  • Deals may be close to expiration: Before you buy a daily deal on the secondary market, double check to see how much time is left on the deal. One of the issues with daily deal sites is the expiration date — you want to make sure that you will have time to use the deal before you buy it.
  • Check for guarantees: In some cases, secondary deal sites actually offer guarantees. Not all of these markets offer them, though. Read the terms and conditions of the site, or look for information, regarding the possibility of protection in the event that something goes awry with your daily deal purchase.

Sites that Offer Daily Deals on the Secondary Market

There are a few sites that offer the chance to pick up daily deals from sites like Groupon, Living Social and DealOn. You can pick up someone else’s deal for less than the face value, compounding the savings on the deal. Even if you end up paying for the full face value of the deal, you are still getting a discount — and you get a second chance to enjoy a deal you might have missed before.

Some of the sites that provide the opportunity to purchase deals on the secondary market include Lifesta, CoupRecoup, DealsGoRound and Dealigee. You can visit these sites and purchase deals that others don’t want. In many cases, people sell their deals because they find they can’t use them before the expiration, or because something else has come up. Re-selling the deals allows them to recover some of the money spent so that it isn’t a complete loss.

Before you buy, make sure you vet the deal for authenticity. Some sites will guarantee the authenticity, and protect against fraud, while others have a “buyer beware” policy. You can also further protect yourself by buying with a credit card. If something goes wrong with the transaction, you can contact your credit card issuer and dispute the charge.

Selling Your Unused Daily Deals

Perhaps you have bought a daily deal, and you no longer want it. Or, perhaps it doesn’t fit your schedule. If that is the case, you can sell your unused deal and get some of the money back. When you sell an unused deal, though, you will need to consider the cost involved. Realize that many of the sites will take a percentage of the transaction, or charge a flat fee. You will need to consider that when setting the price of your deal. If you discount it from the face value, or from the amount that you paid for it, you will have your returns eroded further by the fees charged.

There are some sites that work more like a Classified marketplace. These sites don’t charge fees, but they also don’t come with the same protections that costlier sites have.

Weigh your options, and decide which is likely to work best for you as you buy or sell your daily deal.

(Photo: Groupon [4])


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[4] Groupon: http://www.flickr.com/photos/groupon/6166710591/

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