Steam's gift faq page says any limitations appear before checkout, and in your inventory (page has image examples).
Games are also automatically redeemed when accepted, so they can't be re-gifted.
It wouldn't make sense for Steam to deny you from overpaying for a gift and then sending it to someone who could've bought it cheaper. Only the other way around.
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6 years ago*
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I live in one, if not, the most expensive EU1 regio. I know you can't gift to area's with more than 10% price difference. I presume that only counts for gifting to a more expensive area and not when gifting to a cheaper area. In other words, can I always gift a copy of any game to any area?
I do not like problems when creating a gib.
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