18th
Would You Pay $715 for $630 in Cash?
Last week I was meeting with Josh Kopelman at his Philly office and we were talking about all sorts of arbitrage opportunities, there was one in particular that was incredible but I can not blog it, sorry:(. The web has created some really cool arbitrage situations this being one of them.
For the crack money that Microsoft seems to want to pay to get into search advertising they might actually benefit from things like the below in the long run if it gets enough press and actually gets people to see how the whole offer works…
There is a buy-it-now listing on eBay today where the seller is offering $630 in cash, which he will send electronically to the buyer through PayPal. The current price for this listing is $715. Why would someone pay $715 for $630 in cash? Well, you may have heard that Microsoft recently launched a ridiculous “cash back” promotion in the hopes of bribing Google customers to switch to Microsoft’s search engine, Live.com. Seems some resourceful people found a loophole in the system. Apparently, you can get a 10-35% cash back reward for all buy-it-now eBay purchases if you access the eBay listing through Live Search. So, people are simply selling cash and arbitraging the cash back reward. Suck it Ballmer.
Can you Digg it?