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Not Mine Chip Room eBay Sales (3 Viewers)
- Thread starter ekricket
- Start date
FDLmold
Royal Flush
I don't think he will take 20 weeks to sell 10k chips. I would guess that his business model is to get a short term loan from a bank, sell the chips fast, make profit, and pay back the loan before there are too many interest charges. On the other hand, these sets are smaller and maybe he did not require a loan this time, in which case he can take his sweet time maximizing his profit on these chips.
justsomedude
Straight Flush
Agreed. The secret is definitely out.
On the subject of unforeseen side effects, maybe Paulson catches wind and returns to the home market???
DJ Mack
Flush
Casinos selling on eBay is the one thing I don't see happening. It's just not their core business, assuming they're not closing their doors which is often the case. Listing these things takes time, skills and overhead that your average casino is not going to have on staff. Stuff like this gets outsourced, usually in a hands off arrangement.
My main job is with a large company and in the typical year we replace thousands of computers on a 3-4 year cycle. We looked into selling the old ones because they're still great machines but the overhead and complexity made it all but impossible if we didn't want to stray from our primary business. So the hard drives get taken out and the machines are sold for 10% of the purchase price to a wholesaler and it becomes their problem. Not to mention we avoid having to store and secure the inventory, a problem casinos would also have with obsolete chips.
Now, the second part of your statement I could see. I have no idea what TCR pays for chips, but if it becomes well known that these chips are routinely fetching 20-30 times what the casino gets rid of them for I could see them saying we know what they're going for on eBay, so our offer to you is a buck a chip primary, two bucks secondary, take it or leave it.
Also - maybe it's just me but I think this is kind of like Bitcoin. There's a lot of speculators in the market right now but only time will tell if there are people willing to pay the ridiculous prices they will want. I'd like to think there's going to be a few folks holding a ton of shit they way overpaid for and can never get rid of at cost.
FDLmold
Royal Flush
Gaming regulations may also prevent casinos and card rooms from personally selling to the public their obsolete chips.
And it looks like Jim's gonna make a bit more money. So more power to him in my mind.
DJ Mack
Flush
Of all the gaming regulations I've read they fall into one of three camps: 1 - require the chips to be destroyed, 2 - require visible cancellation, 3 - are silent on the matter. Casinos sell all sorts of canceled but otherwise live memorabilia like cards and dice that are normally subject to the same strict controls as chips.
Legally TCR is a private person just like you and me. If there was a rule prohibiting them from selling to you or me TCR couldn't buy them either.
No, as I said above I suspect it's a matter of pure economics.
OP
OP
ekricket
Royal Flush
Doesn't forbid them from jacking up the price for wholesalers like Jim. Why would they let him get the majority of the value?
Agreed. The secret is definitely out.
On the subject of unforeseen side effects, maybe Paulson catches wind and returns to the home market???
I think Paulson leaving the market may have some part in this. Previously, if used chip prices rose too much people would just buy new Paulsons. We may see the same in the future, as other custom chip makers see an uptick due to high used prices for even mundane ones and fives.
justsomedude
Straight Flush
Paulson leaving has definitely affected prices. That said, I don't think Paulson is completely deaf to the current secondary market either; they must know what's going on. And sure - security concerns pushed them to lock out home buyers, but markets are fluid and cyclical. If they see people paying $3, $4, $5 per chip and up... they might be enticed back into the fold, especially if they can hit those retail prices (for home buyers) while still keeping their casino clients happy (re: security).
While I would welcome Paulson back into the home chip market, the total collapse it would bring to the value of the resold casino sets that we all possess would be catastrophic.
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OP
OP
ekricket
Royal Flush
And there is nothing new under the sun.....
People were purchasing bulbs at higher and higher prices, intending to re-sell them for a profit. However, such a scheme could not last unless someone was ultimately willing to pay such high prices and take possession of the bulbs. In February 1637, tulip traders could no longer find new buyers willing to pay increasingly inflated prices for their bulbs. As this realization set in, the demand for tulips collapsed, and prices plummeted—the speculative bubble burst. Some were left holding contracts to purchase tulips at prices now ten times greater than those on the open market, while others found themselves in possession of bulbs now worth a fraction of the price they had paid. Mackay claims the Dutch devolved into distressed accusations and recriminations against others in the trade.
People were purchasing bulbs at higher and higher prices, intending to re-sell them for a profit. However, such a scheme could not last unless someone was ultimately willing to pay such high prices and take possession of the bulbs. In February 1637, tulip traders could no longer find new buyers willing to pay increasingly inflated prices for their bulbs. As this realization set in, the demand for tulips collapsed, and prices plummeted—the speculative bubble burst. Some were left holding contracts to purchase tulips at prices now ten times greater than those on the open market, while others found themselves in possession of bulbs now worth a fraction of the price they had paid. Mackay claims the Dutch devolved into distressed accusations and recriminations against others in the trade.
Mtvernonbryan
Straight
Jim will need to make more per on eBay as he will be paying the %10+ eBay fees on the sales. I see no problem with his choice as it has been stated before, this forum has been lucky to have had first dibs on all these chips. Everyone is just bummed which is totally understandable. If this is such a huge deal and a cause for such disappointment/anger then we should be thankful that are lives are going pretty well if this is the reason we have a bad day...
It's not as easy as one would think. When the Cleveland Horseshoe rebranding was announced I tried to in vein to get into contact with anyone at Rock Gaming to try to purchase both casino's retired chips. I couldn't get so much as a return call.
So I am guessing Jim has established many connections within the industry over the years that help get him the inside track on many of these sales.
WedgeRock
Royal Flush
I think you meant 'shoot', but based on the way some behave, perhaps no correction is needed.
I prefer shit. I'm using that in common language now.
OP
OP
ekricket
Royal Flush
dew4au
Flush
I read this the first time through and was like "yeah, I get engaged in a lot of things when the weekend rolls around..." Then I saw the other replies and was, "oh, that engaged!" Doh!
Congrats!
RainmanTrail
Straight Flush
For the record, I'm not complaining. I'm not even interested in any of these chips. I'm just laughing at the irony here. I am 100% on board with him wanting to do this. I probably would have done something similar if I were him.
I just think it's funny that he "can't figure out a way to sell them fairly here on PCF" because of PayPal cart issues. Surely most of us could come up with a simple and effective solution to his "troubles" to address the cart issues (TCR included) in about 2 seconds. The truth is, he just doesn't want to deal with PCF anymore but he just doesn't want to come out and say it because he knows we are the overwhelming majority of his market.
Again, nothing wrong with what he's doing. I just think this is a rather funny show from where I'm sitting here in the bleachers.
Here we go again. Shitting ourself in the foot.
I just wanted to use that line.
I just wanted to use that line.
bentax1978
4 of a Kind
My puppy was too tired to fully squat the other night and she managed to shit on her heel while doing her business. No bueno.
My dog hates frost on the lawn, so she proceeded to put on paw on the dirt, and took a dump on the sidewalk while staring at me...
Well played dog... Well played
bergs
Royal Flush
Dunes are sold. I thought (hope) you had blocked me. Life is good. Thanks for asking. How are you? Do you have any chips left or have you flipped them all off like Greg Louganis on a high dive?
bentax1978
4 of a Kind
My previous dog didn't like to go out in the rain, so one time he backed he ass up to the open patio door and shat outside from inside the house. I have to say, I was mildly impressed.
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That's a pro move. The current puppy refuses to go out when it's raining and trys and plays a waiting game to go in the house. Literally will wait us out to not get wet.
bergs
Royal Flush
Where in the Dutch example did whiney people post whiney comments in a dutchbulbforum.com thread, and where did the Germans exploit loopholes to violate the nature of the bulb sales that the Dutch had so generously previously offered at a reasonable (defacto below market) price?
bergs
Royal Flush
Your opinions would be infinitely more interesting to the community if the vast majority of people didn't already consider you a predatory flipper from a chip perspective. If you're done selling your inventory, I'm not even sure why you're here. Your idiotic chip guide never got off the ground because nobody was comfortable with you being the czar of all chip sales, and Jim's move to eBay probably invalidates whatever residual income scheme you had cooked up next for flips.
I'd prefer it if you just stayed on the bleachers. Nobody cares what you think. I liked you better when you had me on ignore. I'd put you on ignore but I can't be bothered to research how for someone who is, in essence, an annoying and preeminently swattable gnat in the ecosystem of chip collecting.
bergs
Royal Flush
FWIW, I won't be back to this thread. I rest assured in the knowledge that Jim did consider what happened to be more than a loophole, and that he'll work with Tommy to find a better way to continue to bring us casino Paulsons. Bravo, Jim.
As for Rainman, I honestly couldn't care less what he thinks, hence my disdain for bothering to check this thread again for whatever useless dribble he passes off as, at best, ironically sad diatribe.
(Look at that @Jeff - not one swear).
As for Rainman, I honestly couldn't care less what he thinks, hence my disdain for bothering to check this thread again for whatever useless dribble he passes off as, at best, ironically sad diatribe.
(Look at that @Jeff - not one swear).
GoStumpy
Flush
(had to add some humor
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