MrCatPants
Full House
Yup. Everytime I've offered a good price they mysteriously end up in the classifieds 6-8 weeks later with a markup. Pretending market price is not market is just delaying who gets "screwed" by a single person.
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SOLD Indiana Grand Sale Thread (6 Viewers)
- Thread starter TheChipRoom
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BirdCage
Flush
Yup, it’s simple math.
I volunteer as tribute.
ktran
Flush
Swampfox007
High Hand
Auctioning them off so quickly after receiving them doesn't establish market price or fAir maRkEt vaLuE though: it just establishes who has the deepest pockets, essentially driving the prices up for everyone else at the same time.
If you want to establish good chipping karma, why not sell your excess chips at cost + shipping price to a member that missed out?
As a person who studies economics I would have to disagree with you. The person with deep pockets does establish market values. Market value is what people will Pay for a product. The problem with these chips is the demand was so high and the price was so low. The result was evident. I'm not sure why Jim has his prices so low. Ether he wants to keep margins tight for reputation, has legal reasons, or is just trying to make a quick buck i have no clue. Invisible hand theory suggest people will do things in their own self-interest. Ie people will flip chips if they can buy them cheap enough and be able to sell them high enough. I don't know what Jim's self interest is in selling them so low and so fast. But if his inventory is blowing out like this everytime, I'm sure he knows that he could get more for them and it's to be expected for somone to try and flip them. I have a buddy who used to say a a fast nickel is better than a slow dime.
If you want to establish good chipping karma, why not sell your excess chips at cost + shipping price to a member that missed out?
As a person who studies economics I would have to disagree with you. The person with deep pockets does establish market values. Market value is what people will Pay for a product. The problem with these chips is the demand was so high and the price was so low. The result was evident. I'm not sure why Jim has his prices so low. Ether he wants to keep margins tight for reputation, has legal reasons, or is just trying to make a quick buck i have no clue. Invisible hand theory suggest people will do things in their own self-interest. Ie people will flip chips if they can buy them cheap enough and be able to sell them high enough. I don't know what Jim's self interest is in selling them so low and so fast. But if his inventory is blowing out like this everytime, I'm sure he knows that he could get more for them and it's to be expected for somone to try and flip them. I have a buddy who used to say a a fast nickel is better than a slow dime.
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detroitdad
Royal Flush
He knows what their value is, I believe he prices them as such to move the product. That's just to guess on my part
ktran
Flush
He does it for the people not just the money alone. I think only a small percentage of the field would be willing to pay higher than these. Also it is priced around other types of chips. THC usually go for more. Competition drives price down. There's CPC, ceramics, high quality plastics, etc.
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Dibs on your $5s. Seriously hit me up.
I made no mention of when I planned on selling/auctioning, so that’s an interesting assumption. If I were to sell at cost to one of the (many) people who missed out, how am I supposed to decide who that lucky member is, and what’s to prevent them from reselling the next day/week/month? It sounds simple, but is anything but. To be honest, I’ll probably just try to trade for a rack of Jack Detroit $5s or “watermelon” $25s and call it a day, hopefully skipping the unnecessary BS while I’m at it.
Good karma? I’ve already caught/released 2+ racks of Protégés at my cost and am holding another 6+ racks indefinitely for a member who had something come up and doesn’t currently have the funds available, also at my cost. Plus I’m throwing in samples from my BCC custom set with everything I ship out. I’d hope my karma is doing alright.
Dude just don’t worry about it. They’re your chips and you can do what them what you wish. No matter what price you offer you will never make everyone happy. If you sell them at $1/chip then people will be upset if you sell for $5/chip people will still be upset. Don’t sweat it just do what you want.
Lil Tuna
4 of a Kind
Agreed. Except that I wouldn't be upset if he sold me some for $1/chip (or $1.19 for that matter).
unfortunately these are so ineslatic that there is very very little risk in flipping them.
Jim clearly gives away huge amounts of his potential profit to avoid inventory loss and community politics as heavily as he does but maybe there are factors we can’t account for. I have no idea what capital he has to put out upfront for the chips.
His model isn’t a good one for maximizing profits, it’s good for clearing inventory and minimizing the period during which he’s dealing with logistics.
The market place is going to see prices skyrocket because it’s a much more precise environment to eek out prices from individual buyers when the sellers can gauge demand and wallet size. Jim doesn’t want to get into messaging individuals and haggling but if these were sold like the RPCs, he and a bunch of others could have made way way more money.
Not suggesting he should do this or that it’s good for the community by any means. But when the demand is so high the prices are going to skyrocket without artificial limits Like what Jim imposes on himself
Just an assumption based on the fact that you bought other denominations to ensure you got your snappers, that's all. Personally, I wouldn't hold onto the ones I didn't need unless it was with the intention of sitting on them for a while until they increased in value. And, for the record, I've flipped more than my fair share of chips on here in the past.
As @Hornet pointed out, of course you run the risk of that person flipping them if you passed them on at cost — thus leaving a ton of money out there you could have made for yourself.
I'm not questioning your chipping karma – especially based on the examples you provided above – but you did ask for people's opinions on what to do, and I stand by mine — especially when it comes to auctioning.
Ultimately, however, as @Bill_Man618 said, they're your chips and you can do what you want with them, bud.
Jim has, historically, always priced them this low. He continues to do so because, as others have pointed out, he's a chipper and wants to provide a very fair service to the community. He hasn't misjudged anything, because I can only assume this particular business model works for him; he can get rid of them quickly and move onto the next casino find.
ktran
Flush
Kind of like Costco. Not that much high margin in gains, but high volumes moved in order to get high gains. Plus it gives him more time to do other things and space.
If this is something you're seriously considering, you could post a WTS ad and leave it open for something like a day, and allow folks to post their interest, with whatever limit/restrictions you feel necessary. Then do a random drawing to select who gets the right to purchase.
You could make a condition that if they need to sell them, you would get first right of refusal at the original sale price. Now there's obviously nothing you can do to hold them to that, but if they pop up for sale / auction a month later, I guarantee they'd get called out. And there are many here who would never do business with that person again.
I'm not necessarily recommending this, but there are ways to make it work if that's the path you'd like to take.
Yep, at this point, anything I list on here is at market price. I ask friends first before I list usually so they can get it at cost as I know they aren't looking to take advantage of me. I've been burned too many times selling trying to hook up the "community" only to have them flip the shit for profit. The "community" has gone underground. There's been an influx of money grabbers in the last few years.
Also, if I list it for market price and a friend or an outstanding member ends up buying them. I give them the "community" discount.
In the case a friend hooks me up, I give them FROR, and if they pass, I still usually give them the profits and or split the profits with them.
Not all of us are in it for the money.
End rant.
Great day to sell $5 HSI. I bet they could go for oVeR MaRKeT bc everyone missed out.
MC Poker
Straight
Goonies never say die!
Likely why these sold so quickly, especially at that price:
https://www.pokerchipforum.com/threads/hsi-5-milled-2-racks.90202/
I like this on a white background better than the black background with the gold coins or stars or whatever those are on the inlay.
MC Poker
Straight
I'm feeling mixed on everything these days! I was on a break and missed the ENTIRE HSI sale, and to me that had everything I wanted... I have 400 vg to mint Prim HSI 100s, and 100 vg Prim HSI 500s and 100 mint Prim HSI 500s. I paid for them too, I wouldnt say I was fleased, I didnt pay chiproom prices, but I didnt have to end up paying max value, but I did have to spend a ton on sets and sell off in barrels of what I did not need to not to get raped! and that was more work then I bargained for! For this sale I fell hard for the Bearclaw 5... I wanted to take the crack at the sec 1k as well, however knowing the rarities and what people were gunning for I did buy, but went against the want list for what I thought I had a chance at... I would have bought Sec 1s, but I thought I'd have a reasonable chance to add on the Prim 1s vs sec 1s... I did sacrifice my heart and not get 800 5s so I could have a MTT Tourney set and a decent cash set. I'd gone sec for all the high denoms but knew I'd lose out and not have a shot on the re-enter for the rest, and even then when the payment circle hit Paypal I thought I took too long entering my list! Now I will have to sell chips to make up for the ones I just bought... but it's going to be really hard to decide who makes the cut off my shelf! I told myself I'd never sell the Ysabels even though I don't let my degens touch em! I think my HSI cash set will go, as these PRIM 5s will be a workhorse! I have a mixed set with Jacks 25s, HSI Prim 100s and 500s, and Roadhouse 1ks and 5ks... but I worked hard on those, not sure I can move it. Decisions Decisions!!
My get yesterday!
400 Prim 1s
700 Prim 5s
200 Prim 25s
300 Sec 100s
200 Prim 500s Would Trade for Sec 500s plus cash
100 Prim 1ks Would Trade for Sec 1ks plus cash
100 Prim 5ks Would Trade for Sec 5ks plus cash
Thank you @TheChipRoom for the sale. Jim is a beast! Shipping notification was out yesterday already!
My get yesterday!
400 Prim 1s
700 Prim 5s
200 Prim 25s
300 Sec 100s
200 Prim 500s Would Trade for Sec 500s plus cash
100 Prim 1ks Would Trade for Sec 1ks plus cash
100 Prim 5ks Would Trade for Sec 5ks plus cash
Thank you @TheChipRoom for the sale. Jim is a beast! Shipping notification was out yesterday already!
This 100%. I don't do a lot of selling, but when I do it normally goes to someone on here I consider a friend, and the price is usually pretty close to what I paid. I will say I have not ever been involved in any of the highly desirable "grail" type chips. Not sure how that might change my methodology of setting sales prices. I do agree I'd be pretty pissed if I gave someone a "friend" deal, then saw them in the classifieds shortly thereafter at an inflated price. Not cool!
MC Poker
Straight
People do these all the time... they'll do poker hands too so its random, can do a ton of fun stuff!! But whatever you do, do it for you. Not for the masses
Lil Tuna
4 of a Kind
Oooopps! Wrong thread. 
I’ll make it easier for some good deed doer - I want 80 primary $5s for an 8 man T5 tournament set. Sell me 80 at or near cost and you can rest easier, because who the heck is flipping 80 chips.
(And ditto for secondary hundreds - I’d like 60.)
No flips, FROR, I’ll swear to be nicer - whatever clauses you want!
detroitdad
Royal Flush
I suppose if I capped it at a week or something . . .I don't think you should make promises that you can't keep
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