Flipping for noobs (2 Viewers)

[Changster]

The IRS doesn’t care if there is intent to flip. If you bought and sold within one year it’s short term capital gains. If greater, it’s long term capital gains. The IRS is trying to discourage flipping any and all asset classes.

That’s the easiest way to define flipping. It’s clean cut, defined, and set by an authority.

We should just define it that way. That way when I get my new NAGBBIJMHH (Not a Group Buy Because It’s Just Me Ha Ha) chips I’ll just hold for a year so I don’t get called out as a flipper.

 

[slisk250]

...is all the butthurt here a case of Schrödinger's Chipper?...can one simultaneous extract full value while gaining infinite chip karma? Now I don't get it....

 

[Changster]

This might not be directly about the topic at hand (flipping, community, etc), but you know what I find funny? The inexpensive chips don't sell well, at least from my own ownership experience with them in my very brief history with PCF (less than a year).

Jacks 1K/5K's at $16-18/chip? BOOM gone in one shot.
Any of the boat/SB chips - BOOM gone. I've sold sets of AS cash, SB tournament, SB cash and tons of racks of the other boat chips. They sold fast.
BTP's in the recent classifieds... both cash and tournament sets, all gone.
A rack of BTP fracs recently sold at new all time highs (I want to say $13/chip?).
Jacks fracs at $1k/rack, POOF gone.
etc etc

Whereas I've had my Jacks secondary watermelon's in the classifieds forever at $200/rack... dirty cheap, but still sitting there.

I'll bet full sets TRK Mapes, TRK Money Tree's, Paulson ACF's would fetch more than boat chips as well, and they would sell instantly.

I absolutely wish chip prices are lower because I probably stand to benefit from most out of anyone, given I'm much more of a buyer than a seller.

 

[JFCJ]

Thread is worthless without pics... Since these were mentioned...

Mapes Casino, Reno, NV

• JFCJ
• Dec 4, 2019

220 - $0.25 (milled and labeled)
400 - $1s
600 - $5s
280 - $25s
20 - $100s

100 brass tokens

More Mapes

• JFCJ
• Dec 4, 2019
• 2

Mapes $100s

• JFCJ
• Dec 4, 2019
• 1

More Mapes

• JFCJ
• Dec 4, 2019

 

[detroitdad]

Thread is worthless without pics... Since these were mentioned...

Mapes Casino, Reno, NV

• JFCJ
• Dec 4, 2019

220 - $0.25 (milled and labeled)
400 - $1s
600 - $5s
280 - $25s
20 - $100s

100 brass tokens

More Mapes

• JFCJ
• Dec 4, 2019
• 2

Mapes $100s

• JFCJ
• Dec 4, 2019
• 1

More Mapes

• JFCJ
• Dec 4, 2019

WOW....... I'd call dibs, but those will never leave you!

 

[horseshoez]

This might not be directly about the topic at hand (flipping, community, etc), but you know what I find funny? The inexpensive chips don't sell well, at least from my own ownership experience with them in my very brief history with PCF (less than a year).

Jacks 1K/5K's at $16-18/chip? BOOM gone in one shot.
Any of the boat/SB chips - BOOM gone. I've sold sets of AS cash, SB tournament, SB cash and tons of racks of the other boat chips. They sold fast.
BTP's in the recent classifieds... both cash and tournament sets, all gone.
A rack of BTP fracs recently sold at new all time highs (I want to say $13/chip?).
Jacks fracs at $1k/rack, POOF gone.
etc etc

Whereas I've had my Jacks secondary watermelon's in the classifieds forever at $200/rack... dirty cheap, but still sitting there.

I'll bet full sets TRK Mapes, TRK Money Tree's, Paulson ACF's would fetch more than boat chips as well, and they would sell instantly.

I absolutely wish chip prices are lower because I probably stand to benefit from most out of anyone, given I'm much more of a buyer than a seller.

Well said. People will pay what they want to pay for what they think deserves it. Those watching from the sidelines can comment but end of the day if that’s what was paid for it with ease, it’s the buyer’s decision.

 

[krafticus]

Yeah, I’ve given things to people.. hard to find things... and seen them included in a package deal not long after. They don’t have to offer it back, but it would have been nice. Not chip Karma per se, but I’ll never help them out again.

 

[horseshoez]

Yeah, I’ve given things to people.. hard to find things... and seen them included in a package deal not long after. They don’t have to offer it back, but it would have been nice. Not chip Karma per se, but I’ll never help them out again.

Basically any effort to show a sense of community, of give and take. Pricing can be discussed till the world ends just like anything else. The concept of what goes around comes around can’t be argued though.

 

[slisk250]

Yeah, I’ve given things to people.. hard to find things... and seen them included in a package deal not long after... but I’ll never help them out again.

I’d Say that is mucho karma senior!

 

[RainmanTrail]

...is all the butthurt here a case of Schrödinger's Chipper?...can one simultaneous extract full value while gaining infinite chip karma? Now I don't get it....

Perhaps you could ask this guy? He seems to know a thing or two about extracting max value and about chip karma.

https://www.pokerchipforum.com/sear...c[title_only]=1&c[users]=slisk250&o=relevance

https://www.pokerchipforum.com/threads/flipping-for-noobs.52212/

For what it's worth, I have no problems at all with you or anyone else selling their chips for max market value. And I'm even grateful when you do. Sometimes I win those auctions My frustrations are with the hypocrisy and double standards I see from almost everyone. I've probably seen 100 chippers here slander "flippers", yet probably all but one of them (@kk405 ) I've seen resell chips at a profit. @ovo doesn't sell his chips lol, so he doesn't count. Again, nothing wrong with that, but if you're going to flip a sample set for $100 profit on one hand, then reprimand someone else who found a rare chip that was underpriced on eBay and resold it for $100 profit on the other hand, I feel obligated to point it out and post images of very tall horses. You're basically saying, "it's ok when I flip, but not when you do it!"

 

[Lemonzest]

My frustrations are with the hypocrisy and double standards I see from almost everyone.

Preach. I couldn't agree more.

Everyone should just sell for fair market value then we are all on the same page - easy.

What muddies the water is when you give someone a deal and then they turn around and sell at a profit. That has happened to me more than a few times and I am done with that. I will buy at fair market value and sell at fair market value. It just makes things less complicated.

 

[ReallyGoodUsername]

 

[BarrieJ3]

Our Bipolar Market For Noobs - Consists of Only Two Settings

Free Kumbaiyah Giveaways

And Market Price Sales

(Just a joke to bury all the shitty comments)

 

[CaseAce]

My broke ass just wants a cash set of Majestics for my home game. I allow myself to dream of Paulsons. I'm a total noob but the chip market does remind me of beanie babies.

 

[12thMan]

Our Bipolar Market For Noobs - Consists of Only Two Settings

Free Kumbaiyah Giveaways
View attachment 402694

And Market Price Sales
View attachment 402696
(Just a joke to bury all the shitty comments)

You’re on a Seinfeld bender today, I just came from that MIA thread.

 

[pltrgyst]

I’m sorry you lost the Lakeshores in the divorce

That's OK. I'll get them back when @k9dr gets tired of his and sells them to me.

 

[Jordan Downs]

This thread was an interesting read. I’ve read several threads where the Boat chip buy has been mentioned. Will anyone who knows tell us that don’t know how much the Boat Chip GB people paid per chip?

I find it hard to believe that it was anywhere remotely close to the prices they go for in the classifieds now. I really like the Boat chip sets but I will NEVER be able to afford to purchase a set.

 

[Jordan Downs]

Also, my two cents on time frames for flippers. I’m currently putting together a tournament set for my poker league. After what I thought was some well researched and thought out planning I decided on the following chips.

$100’s - Bally’s $1’s
$500’s - Paris $1’s
$1000’s - Red Rock $1’s
$5000’s - AS $20’s

Then the Circus Circus $1’s were brought to my attention. So I sold the Paris $1’s I harvested and changed my set to:

$100’s - Circus Circus $1’s
$500’s - Bally’s $1’s
$1000’s - Red Rock $1’s
$5000’s - AS $20’s

Then I seen a rack of Jerry’s Nugget $1’s. So I sold half of the Bally’s $1’s I bought here on PCF and I’m currently selling the other half. My tournament set has changed again to:

$100’s - Jerry’s Nugget $1’s
$500’s - Circus Circus $1’s
$1000’s - Red Rock $1’s
$5000’s - AS $20’s

Now my tournament set has changed yet again to what I believe is my final set of:


$100’s - Jerry’s Nugget $1’s
$500’s - Circus Circus $1’s
$1000’s - AS $20’s
$5000’s - Tunica Roadhouse $1000’s

And I’ll most likely sell the (70) Red Rock $1’s I recently harvested. All these changes took place over the course of about 3 weeks. And I’ll tell all of you, I’m no flipper. Some of us, speaking mainly of myself, are still new to this chip game, are still learning and unfortunately can be very indecisive of what we really want. Who knows, before I complete my set it may change again.

In any case, for better or worse, I really enjoy this forum. I’ve been fortunate to deal with some really good people and I try to pay forward good deeds when I can.

 

[guyfleegman]

Speaking of flipping:

 

[warewulf]

Speaking of flipping:
View attachment 633803

Must be snack time. Get that guy a double cheeseburger quick!