People paying more than exchange rate?

[Supernova190188]

I had a bright idea that maybe people would be selling leftover holiday money on eBay, sure enough they are, but people are bidding way over the top for it?? For instance the exchange rate is £1 to 1.18 euros, but people are bidding like £13.50 for 11 euros, and it's practically every single item, why is this? Are people generally dull or am I missing something out here?

[mcflurry]

I wonder how many of those are people reading the rate back to front (GBP 1.18 = EUR 1) and how many get "issues" for non receipt of the cash downstream, or paypal charge backs??

[JEA1K]

Supernova190188 said:

I had a bright idea that maybe people would be selling leftover holiday money on eBay, sure enough they are, but people are bidding way over the top for it?? For instance the exchange rate is £1 to 1.18 euros, but people are bidding like £13.50 for 11 euros, and it's practically every single item, why is this? Are people generally dull or am I missing something out here?

Can't see the logic in it either myself. I have a few laying around which I'll cash in I think now!!

[Tino]

mcflurry said:

I wonder how many of those are people reading the rate back to front (GBP 1.18 = EUR 1) and how many get "issues" for non receipt of the cash downstream, or paypal charge backs??

This.
Its either a scam to get money out of a paypal account, or the buyer will cite non reciept to get the money for nothing