Comment
44
Tweet
4
Print
RSS Feeds

Daily deal about to expire? Now there's a reprieve

Thursday - 8/2/2012, 8:03am  ET

coupflip
CoupFlip just expanded its market to the D.C. area. The site allows people to buy or sell unwanted or close-to-expiring deals from Groupon, Living Social and other daily deal sites. (Courtesy of CoupFlip)

Michelle Basch, wtop.com

WASHINGTON - Daily deal sites like Groupon, Living Social and Eversave are very popular.

But about one out of three daily deals sold is never used, meaning the buyer wasted his money.

Now a website called CoupFlip that buys unused daily deals and resells them at even lower prices has expanded to include local offers in the D.C. area.

If you have a deal you'd like to sell, CoupFlip will tell you right away how much money you can get for it.

"It's not like Craigslist or something like that where if you have a deal, you would go on and list it and sort of hope for the best. On our site, you go on and you immediately get an offer if you're trying to sell a deal," says CoupFlip Chief Executive Officer Phil McDonnell.

He says if your deal is not close to expiring, you'll likely be offered 50 percent to 70 percent of the price you paid.

How much money you get also depends on things, such as how popular the deal is, and what type of reviews the merchant has received on Yelp.

McDonnell says deals that are about to expire are sold for as much as 98 percent off.

The site also allows you to buy deals you missed that are now available for an even lower price.

CoupFlip, which has been around since January, initially launched in the Boston area.

"We really wanted to launch in D.C. as our second city and Chicago as our third because we felt like those were the epicenters of much of the daily deal market," McDonnell says.

CoupFlip plans to expand next to New York and San Francisco.

Follow Michelle and WTOP on Twitter.

(Copyright 2012 by WTOP. All Rights Reserved.)