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SOLD Price Drop 2! Dutch Auction: Paulson - Poker Palace - Cash Set (1 Viewer)

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Weckedy

Weckedy

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Hey All,

I really like the idea of the Dutch auction. The initial price is set really high in the hope that everyone will get a chance to see the chips and presumably the seller and buyer both get a price they are happy with as the price starts dropping down. So, up for auction is cash set of the Poker Palace chips. They are considered Mint to Near Mint condition. They are clean, with a small bit of oil. Breakdown and pics below:

Breakdown:
Amount - Denominations
  • 220 - $0.25 (est. plus 5 extras)
  • 300 - $1.00 (est. plus 3 extras)
  • 120 - $5.00 (no extras)
  • 40 - $25.00 (est. plus 6 extras)
These chips are from Darlene's Poker Palace. Located in Nice, California.

3707 Highway 20
Nice, California
Type: Card Room
Status: Closed
Close: 1985

Current Price: $1,620 USD.
Price Drop Percentage: 10%
Date of Next Price Drop: 9/19/16
Time of Next Price Drop: 3:00 PM PST

Price includes Shipping and Insurance to CONUS.
Will ship international at additional cost to buyer; however, once i drop it off at the post office its it no longer my responsibility.

*Rules:
1) I reserve the right to: i) cancel the auction at any time; ii) edit the listing to correct errors or clarify rules as needed
2) Make your "bid" here in this thread, NOT A PM.
3) Tommy and PCF are in no way responsible for any actions in this auction.
4) Winning bidder to pay by Paypal Family & Friends. Non Friends and Family is optional if the buyer wants to pay the fees.

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You always have a good stash of chips.(y) :thumbsup:
What else are you hiding? :)
 
Gorgeous chips! However...

Weckedy said:
I really like the idea of the Dutch auction. The initial price is set really high in the hope that everyone will get a chance to see the chips and presumably the seller and buyer both get a price they are happy with as the price starts dropping down.
Click to expand...

...it's not a Dutch auction. Technically a Dutch auction is when there are multiple identical items available, and the price is set by the lowest bid that would still get one if the bids were ranked highest to lowest. For example, suppose you have 3 widgets for sale. If four people bid $10, $9, $8, and $7 each, then three of them would get one widget each for $8 apiece. The guy who bid $7 is too low.


EDIT: NOPE - I'm wrong, at least according to Wikipedia. This is exactly a Dutch auction. What I'm describing is a "second-price" auction. Never mind, and sorry for the intrusion!


In any case, I will be keeping an eye on this one myself! :)
 
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Awesome, seems to be a lot of interest and exposure already.
So im going to change the date of price drop from 9/16/16 to 9/12/16.
And the time from 5:00 PM PST to 3:00 PM PST, so that most people would still be in their offices.

Kyle said:
You always have a good stash of chips.(y) :thumbsup:
What else are you hiding? :)
Click to expand...

Im actually trying to bring down my collection down to two sets. One cash and one tourney.

Psypher1000 said:
Good luck, buyers! I hope you get the lowest price possible.
Click to expand...

Indeed! I encourage everyone to wait until they feel its the right time but don't wait too long or else someone else will buy them and you'd wish you'd hit the Buy button earlier.

The dutch auction is not a perfect system, but at least no one can say "Damn, i didn't even get a shot at these!"
 
Updated rules. To make it clear that the "bid" should be made here, in the thread and not through a PM.
 
detroitdad said:
OK. I'll Google the difference
Click to expand...

In short, a reverse auction is when you have a buyer who wants to buy an item (or services) and multiple sellers of the item (or services) bid to make the sale. The price is bid downwards until the lowest bidder wins and gets to make the sale. Effectively this is the reverse of a regular auction where multiple buyers bid on an item and the higher bidder gets to buy it from the seller.

A dutch auction is effectively what is taking place here. There's a couple good links with more info above.
 
bentax1978 said:
In short, a reverse auction is when you have a buyer who wants to buy an item (or services) and multiple sellers of the item (or services) bid to make the sale. The price is bid downwards until the lowest bidder wins and gets to make the sale. Effectively this is the reverse of a regular auction where multiple buyers bid on an item and the higher bidder gets to buy it from the seller.

A dutch auction is effectively what is taking place here. There's a couple good links with more info above.
Click to expand...
I think there was a show "Shipping Wars" or something like that.

"The competition begins each day when thousands of shipments are put up for auction online, and the truckers who make the lowest bids get the loads. It's a high-stakes game, figuring out what shipments are worth the time and money to move them..."
image.jpeg
 
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