Fair market value is determined by a willing seller and a willing buyer.
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Classifieds..... now....... (2 Viewers)
- Thread starter TheBigTater
- Start date
Fair market value is determined by a willing seller and a willing buyer.
links_slayer
4 of a Kind
oh trust me, i get it.
True story !
Half rack of PCA's from eBay @cost (when there were no more available @TCR)
It made my set.
I know you understand. I was just offering an accepted definition. It is called an "arms length transaction."
Do you feel targeted about the PCA ?
Yes is not the seller fault, i'm ok with dat.
But for you it's a flipper if he buy a rack few years ago at the chiproom for nothing and making x5 now ?
Who sale or will sale a Star chip are a flipper for you ?
Yup. I'm sort of trying to sort through things out loud. And it helps to be reminded of the good stuff.
FWIW, I don't get the feeling that anyone is calling you out for flipping with your auction @Psypher1000 - I think most of the posts in that direction are referring to the other set that is/was(?) listed for 10x cost (EU tax/customs/shipping costs notwithstanding). My opinion, anyway.
I saw the thread within minutes of it being listed. It was selling for $7.50 per chip. Without stating my strong opinions on the price, this is no where close to 10x the sellers cost. The seller’s cost would have been $.75/chip? If the thread came out in the initial seconds with a $15/chip cost, I didn’t see that, and obv it was edited within a minute of being posted.
Wils
Flush
True dat
Sure, someone said $15/chip so I took that at face value. I still think $7/chip is obscene personally, but if someone is willing to pay that well that's the free market at work.
Yep. I can remember thinking that $3/chip for Detroit fracs was more than obscene!
The most I've ever paid for playable Paulson chips is $95/each. It's all relative.
One thing I’ve learned over the last ten years: Never sell to a relative.
Sweet Jesus! I suppose it is. I buy chips to play with (for the most part), and I don't think I would want to play with something that expensive.
Well inquiring minds want to know . . .
I have paid $100/per chip for Paulsons on many occasions.
But I have always taken them back to the casino cage or host at the end of the night
But I have always taken them back to the casino cage or host at the end of the night
I think the term "to flip" really has to do with buying something with the intent of selling it shortly thereafter at a profit. To me, anyone buying a set of chips and using them for a year or two and then selling them at market value isn't a "flipper", it's just someone who resold some chips.
But speaking of "market" though: I think some people have a problem with the notion that some of these prices are "market value" when competition on that market, or "bidding" rather, is hidden. There is no way to know what the market is truly willing to pay or get paid for something when it's all in the dark. Whomever controls the supposed communication has the control, not the actual participants.
In other words; if someone offers a set of chips for X dollars on an open market, it may turn out there's only one buyer. There is now "leverage" between supply and demand. But if the market is "closed" and the seller tells that one potential buyer that someone else has PMd with a higher price, then the buyer ends up paying more than what the market actually would indicate the value is, because the demand has been fabricated to coax a higher price.
But I'm repeating myself now I think. And I'm a "newbie"... here...
But speaking of "market" though: I think some people have a problem with the notion that some of these prices are "market value" when competition on that market, or "bidding" rather, is hidden. There is no way to know what the market is truly willing to pay or get paid for something when it's all in the dark. Whomever controls the supposed communication has the control, not the actual participants.
In other words; if someone offers a set of chips for X dollars on an open market, it may turn out there's only one buyer. There is now "leverage" between supply and demand. But if the market is "closed" and the seller tells that one potential buyer that someone else has PMd with a higher price, then the buyer ends up paying more than what the market actually would indicate the value is, because the demand has been fabricated to coax a higher price.
But I'm repeating myself now I think. And I'm a "newbie"... here...
Poker Zombie
Royal Flush
You may be new, but you hit my sentiments exactly.
Flipping is buying and quickly reselling. When the Chiproom has a sale, he is selling them here for less than he could get on eBay or his website. However, some flippers (they call themselves entrepreneurs) will try to corner the market with certain denoms. Those chips are then posted up for sale shortly afterward for an escalated price. Jim at the Chiproom has spoken out against such practices, and has even put some barriers in place to discourage the practice, much to the chagrin of others - but it still happens.
Buying chips and later selling them isn't the same. If I bought a rack of CDIs for 75¢ in 2007 and sold them off for $1.50 in 2017, I'm not flipping. I'm simply selling an item for what it is worth today.
With the Star chips, the lines get a little blurry. The cost from the manufacturer was undeniably going to be less than what the community would want to pay. Are we supposed suggest that those in the GB should release them for what they paid? How about the secondary owner - are they then allowed to turn the profit? Sooner or later the chips will sell for more than the GB participants paid. They are beautiful, they are mint, they are clean, and they are Paulsons. They are going to set their own price.
Yes, I hate flippers - the ones that buy up a rare chip from a chiproom sale to release it to the community for profit. They drive Jim to cut out chippers discounts, and that negatively affects all of us. The GB participants that brought new chips into existence aren't flippers. Hell, they were even trying to keep the chips a secret - how do you try to flip a profit by not letting anyone know what you have?
Agreed. Flipping chiproom sales is all kinds of wrong.
There are a bunch of playable chips that are currently market priced at $15-$30 each -- usually casino chips with $500 denominations and higher.
It is a beautiful chip.
There are a bunch of playable chips that are currently market priced at $15-$30 each -- usually casino chips with $500 denominations and higher.
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