If you go to eBay or OzBargain classifieds one can see data being sold, on a regular basis, as low as 6c/GB and in the past as low as 5c/GB. Normal eBay prices are around 9c to 11c a gigabyte.
Now I know you can buy a $45 Belong starter pack for $20 and for $70 credit get 400GB. That means that one can get a $70 credit monthly Belong data plan of 400GB data for $45 hard cash (data plans don't support referrals). That's still 11.2c/gb which is well above 6c/gb but I guess close to eBay prices but eBay has a high cut for itself.
I asked Microsoft Co-Pilot which was surprisingly generally accurate but had some inaccuracies:
Some sellers on platforms like eBay and OzBargain manage to sell data plans, such as Belong's, at surprisingly low prices due to a few strategies:
Bulk Purchasing: Sellers often buy data plans in large quantities at discounted rates. This allows them to resell at lower prices while still making a profit.
Promotional Offers: They might take advantage of special promotions or discounts offered by providers like Belong, passing on some of the savings to buyers.
Referral Credits: Belong offers referral programs where users earn credits for referring new customers. Sellers might accumulate these credits and use them to subsidize the cost of the data they sell.
Loss Leaders: Some sellers might sell data at a loss initially to build a customer base or gain positive reviews, which can help them sell other products or services at higher margins later.
Unused Data Resale: Belong allows data gifting, so sellers might be reselling unused data from their own plans or from plans they've acquired.
International Arbitrage: In some cases, sellers might exploit differences in pricing or subsidies between countries to offer cheaper rates.
These strategies, combined with the competitive nature of online marketplaces, can lead to surprisingly low prices. If you're considering purchasing from such sellers, it's always a good idea to check their reviews and ensure the legitimacy of the deal. Let me know if you'd like tips on spotting trustworthy sellers!
So what's the secret?
7. Data obtained illegally: Not everything is as it seems and some people like to
brakebreak laws and obtain money selling stolen goods.