Formula Checks On EBay...why Do People Pay The Full Amount Almost?

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Old 06-28-2008, 04:36 PM
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Question Formula checks on eBay...why do people pay the full amount almost?

I have always wondered (I apologize ahead of time if this question is considered taboo) but why do bidders pay almost full price for formula checks on eBay? I have heard the stories that it is merchants who then cash them in, people who use them to buy formula and send the formula overseas, or that they are the companies who buy them and then take your name off the list. They all seem a little far fetched to me but I was just curious, I mean would a company really spend all of that time and money really to take your name off the list?

Anyone know the real reason?
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  #2  
Old 06-29-2008, 09:40 PM

RE: Formula checks on eBay...why do people pay the full amount almost?

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I have no idea but Ive always wonder'd the same thing
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Old 06-29-2008, 09:58 PM

RE: Formula checks on eBay...why do people pay the full amount almost?

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i've wondered the same thing about "free" coupons. i have seen coupons for free 12packs of coke for for 75% more than they are worth. i honestly wonder if people are trying to make more copys of them some how. it makes me angry because something like that is prolly going on and it RUINS it for us HONEST couponers. JMO though
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Old 07-01-2008, 10:45 PM

RE: Formula checks on eBay...why do people pay the full amount almost?

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I wonder that too. So much so, in fact, that I called Enfamil and asked them why these people who obviously don't use their product are able to receive formula checks in the mail (and turn around and sell them on ebay) when I have registered with their site (well before my daughter was born) and have never received any checks from them! I told the lady that it was very disturbing to me considering I don't receive them when I could use them--my daughter is 6 months old and all we have ever used was Enfamil. I went on to say that I don't want to have to pay for something that they were obviously sending out for free---just to the wrong people. I told her I was considering switching to another brand just to try and cut the cost down (but I really don't want to being my daughter has only ever had Enfamil). She told me that they were aware that people were selling them on Ebay and they try to discourage people from doing this blah blah blah. She said she was sorry for my disappointment with them and that she was going to send me a couple of free sample cans. We shall see..........

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Old 07-27-2008, 06:50 PM

RE: Formula checks on eBay...why do people pay the full amount almost?

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if you check recently, that is not the case anymore. there are stocklots of checks with BIN tags at 50% or less of value. I've won several auctions 15% face value with free shipping.

I just noticed that even those who buy checks now are buying them at much lowerrates, like 20% to 25% of face value unlike previously when the going rate was 60% to 75%. I noticed when they offered lower pphf, many traders who had checks shifted to coupons they can use instead of a handling fee.
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Old 08-04-2008, 06:51 PM

RE: Formula checks on eBay...why do people pay the full amount almost?

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I think it depends where you live and how much you pay, say you use enfamil and at your store its 8.00 a can but at my rural store it is 14.59 a can paying 13.00 a person would still save 1.59 if they use a can a week thats still a savings of 83.00 a year.
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Old 08-05-2008, 12:24 AM

RE: Formula checks on eBay...why do people pay the full amount almost?

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Last year, I was trying to buy Enfamil coupons on Ebay. I noticed that there were SIX people buying all the checks, and would EVEN pay higher than the face value on the checks. I looked through their feedback, and, though some had only been ON ebay for a few months, these people were buying huge amounts of checks, for 90% or more of face value, and according to their feedback, did not buy ANY auctions that included coupons, or actual formula. All of them also had foreign names. I added up ONE day worth of feedback on auctions for one person, and IN ONE DAY that person SPENT over $15,000 BUYING formula checks. within a couple days, ALL SIX people had private feedback. Their feedbacks did not contain one single sale, or purchase that was not Infant Formula Checks. What on earth could they possibly have been doing with them? now ebay has it where you cannot see the buyers names, so there's no way to see who buys anything. But that whole ordeal seemed rather suspicious to me.

I looked at formula checks a couple months ago, and noticed that this is no longer going on, so, I wonder what happened, makes me even more curious.
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Old 03-21-2012, 03:11 PM

RE: Formula checks on eBay...why do people pay the full amount almost?

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Maybe they are trying to cash these checks. Just a thought
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Old 03-30-2012, 01:10 AM

RE: Formula checks on eBay...why do people pay the full amount almost?

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Quote:
Originally Posted by arose View Post
Last year, I was trying to buy Enfamil coupons on Ebay. I noticed that there were SIX people buying all the checks, and would EVEN pay higher than the face value on the checks. I looked through their feedback, and, though some had only been ON ebay for a few months, these people were buying huge amounts of checks, for 90% or more of face value, and according to their feedback, did not buy ANY auctions that included coupons, or actual formula. All of them also had foreign names. I added up ONE day worth of feedback on auctions for one person, and IN ONE DAY that person SPENT over $15,000 BUYING formula checks. within a couple days, ALL SIX people had private feedback. Their feedbacks did not contain one single sale, or purchase that was not Infant Formula Checks. What on earth could they possibly have been doing with them? now ebay has it where you cannot see the buyers names, so there's no way to see who buys anything. But that whole ordeal seemed rather suspicious to me.

I looked at formula checks a couple months ago, and noticed that this is no longer going on, so, I wonder what happened, makes me even more curious.
maybe it was the company buying back the checks, and then later on they'd have evidence against the sellers, etc. ?
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Old 04-02-2012, 08:25 AM

RE: Formula checks on eBay...why do people pay the full amount almost?

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I have sold many checks on ebay and never had any "evidence used against me"
Nor was I ever taken off the lists to get checks in fact seemed like the more I sold them the more checks I got

If I had to guess on what was happening is that stores who sell formula are cashing the checks and using that money on other things u know charging enfamil the full value of the check even though the formula was only $6 so then they got $8 to do whatever with but thats just my opinion

When I sold them I also had people paying 75% of the value which was weird
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