Liquidate prepaid card in China?
 

Just for fun I searched "Vanilla Reload" on the Chinese C2C site Taobao.com and it returned a result.
Then I searched for VGC and it gave out a ton. Each comes with a custom "service fee" or a high exchange rate (7 CNY=1USD vs regular ~6.2 CNY=1USD)
(the VR on Taobao had an regular activation of 4.95+$10 "Service fee". If the service fee is lower I'd do MS there. They accept Visa/MC for payment.
It seems that there are plenty of Chinese demanding cards with an US billing address so they can buy goods online and ship them (many sites do not allow foreign billing addresses) to a shipping center in the US and forward the goods to China. The price for the same goods in China is so high that it worth playing this game even with the high shipping cost.
So it seems reasonable to buy VGCs and sell them to China. Shipping a pound of cards to china costs about $45 for 3-5 day delivery via USPS Priority Mail Express International. Or perhaps some buyers would accept electronic delivery since they are going to use them online anyways.
Opening a store on Taobao.com is free while you have to provide proper identification. And selling is free vs ebay's 10% commission. The revenue goes into Alipay which is similar to Paypal and you can cash them out to Chinese bank accounts (so you get CNY by spending USD. That can potentially be a bug since the Chinese government imposes a limit on how much you can convert from CNY to other currencies each year.)
The bottom line is you have to know Chinese pretty well and somewhat China-based.

VR
http://s9.postimg.cc/sy77c65in/2014_04_18_6_08_46.png
Plenty of VGCs on sale. The first one seems to be bought straight from GCM.
http://s1.postimg.cc/a7as1tlhr/2014_04_18_6_33_29.png

Good thinking.
There is probably money to be made here somewhere IF you can find reliable and legitimate buyers.

Interesting. What if there is a dispute (e.g. an evil buyer received a GC but claimed it had not been delivered or the amount was not correct)? Will the buyer lose money?

Doesn't the red color mean nobody is bidding on these? Just because that is the asking price doesn't mean anyone is paying it.

The prices are All fixed. However there is no cost to change the price after the buyer placed the order and before paying. This is common practice on Taobao.
There are so many listings that I believe they are quite popular

The buyer can file a claim to Taobao and both the buyer and seller provide evidence to back their arguments up. Eventually a customer rep will look at the evidence and decide the resolution.

Red is a good color in China. Chinese stock market shows prices red when they are up and green when they are down.

What about their traffic lights? :confused: :D

One risk I can think about is that what if the buyer claims there is no or less value in the card received, as common scams that could happen in eBay when dealing with gift cards.

I believe there has to be a way to check the GC balance and activity.

But you need to work at night :)