How to be a flipper on PCF (1 Viewer)

[Jacks]

As someone who has only profited in 3 transactions on PCF (my Pharaohs on joining, my Rio WSOP find, and my Agave tournament set), but has lost lots more money in my time here, I thought I would help you with some simple guidelines to flipping successfully.

1. Don’t do auctions - people often accuse those of auctioning as trying to extract max value. Actually, because auctions set the price to the second highest valuer, in a thin market like poker chip collectors, a listed price can extract much more value from the highest valuer.

2. Make sure to privately sell your overpriced stuff (especially to newer folks who don’t know any better) to avoid reputational harm which hurts your ability to repeatedly flip.

3. Be patient with your listings. Whether that’s one horribly overpriced WTHC set or 15 live Vegas sales threads, make sure to repeatedly bump the threads until someone who doesn’t know better jumps in. I’ve lost a lot because I can’t stomach bumping posts. Be better, and ignore the market signals.

4. Don’t sell on PCF, buy on PCF and sell on eBay. Arbitrage baby! Bonus points if you message the PCF seller privately asking for his best rack or a discount only so that you can flip it easier on eBay.

5. Build up a network of sycophants who will come into your overpriced sales threads and upsell for you. People may disparagingly refer to those as thread fluffers but they are just haters - make sure to report them for thread crapping in your sales thread asap before a potential buyer sees through the veneer!

 

[Jers28]

I should write a post on how to get yourself noticed as the stupid noob willing to overpay to complete sets! Maybe we could collaborate. Give both perspectives on how to maximize results!

 

[detroitdad]

I'm probably even, actually, that isn't true. I am probably in the deficit over buying and selling chips during the last 20 years. I recently sold a couple of sets for profit. Overall, yikes..........

When the PCF community was small it was easy to buy and sell sets. Small losses were fine. I got to experience a ton of sets. I tend to buy my sample sets 600 chips at a time.

PCF has grown exponentially over the last few years. It only makes sense to sell at a fair market value. At least that is what was preached at me by the "special" members.

I know there are a bunch of us that when we sell privately, we are selling at our cost, or at a loss, but were choosing to sell to someone that we have a relationship with.

 

[grandmeme]

So when can I buy your PCA set to flip the following month?

 

[LowerBama1714]

You know you’ve found a flipper when you have insufficient privileges to comment on their shitty singles ads…

 

[ekricket]

You know you’ve found a flipper when you have insufficient privileges to comment on their shitty singles ads…

You must have offered some help to him. That’s what I did, offered to talk or help him through a difficult time he was publicly posting about. He sent me a PM that said STOP.
He did not want help, he wanted sympathetic sellers. I’ve been blocked ever since, but who cares, I don’t deal in that space anyway so it’s a nothingburger.

 

[detroitdad]

You must have offered some help to him. That’s what I did, offered to talk or help him through a difficult time he was publicly posting about. He sent me a PM that said STOP.
He did not want help, he wanted sympathetic sellers. I’ve been blocked ever since, but who cares, I don’t deal in that space anyway so it’s a nothingburger.

I put the bourbon chips in play last week. Every time I do, the stamping gets some really fun comments. Thank you sir!

 

[ChippinUp]

The marketplace on PCF is very quickly becoming like the marketplace on FB. People will always find ways to make money. If flipping chips is your thing and there is a market for it then you can’t really blame them.

Understanding this site has members with deep roots I can see how people could feel this way towards “flippers” but like any open marketplace if you don’t like the price or don’t agree with the sellers ethics just keep scrolling. Nobody wants to see a new member ripped off but with a bit of research on their part it isn’t hard to come up with a market value.

Many of the deals I’ve made on PCF are via PM. I am sure that goes for a lot of other people on this forum. If you have the the contacts to transact that way then go for it.

If not then the MP is a jungle you just have to navigate carefully.

 

[RocAFella1]

You know you’ve found a flipper when you have insufficient privileges to comment on their shitty singles ads…

 

[NotRealNameNoSir]

I'm just glad we were able to come together as a community to make sure this guy's auction sucked. Cheers!

https://www.pokerchipforum.com/threads/flamingo-thc-1-rack-seller-refused-to-complete-sale.137963/

 

[Josh Kifer]

I'm learning so much.....

 

[LotsOfChips]

https://tenor.com/view/oh-flipper-flupper-dalphin-flip-floppity-gif-27429572

 

[ChippinUp]

I'm just glad we were able to come together as a community to make sure this guy's auction sucked. Cheers!

https://www.pokerchipforum.com/threads/flamingo-thc-1-rack-seller-refused-to-complete-sale.137963/

That auction absolutely sucked

 

[elPadroni]

As a new chipper, I appreciate the solid advice! Will make sure to bookmark this post for future reference on max profits

 

[JMC9389]

As a new chipper, I appreciate the solid advice! Will make sure to bookmark this post for future reference on max profits

 

[BarrieJ3]

I'm over the shaming of the most public flippers. The only difference is they aren't good at it.

Pretty much every chipper I consider a friend or at least acquaintance (that actively buys/sells) flips. I'd say that my closest chippers flip a ton and in doing so have built no small part of their collection.

It's weird that we get so riled up about some and not others. "You can't flip that way, you need to flip this way!"

edit - I do understand nuance though, which is doubly important given the limitation of what can be posted on classified listings - not complaining, just matter of fact. Likely takes a new member some time to determine flippers they find worthwhile and work with vs flippers to avoid.

 

[Rieguy]

Me after making $4.69 off of a flip:

 

[acezag]

When you open trade offers with an inexperienced PCF'er, insist on a trade value that is at least 4x the price it will sit at for 6 months when you eventually list it for sale. Stick to your guns!

 

[Josh Kifer]

When you open trade offers with an inexperienced PCF'er, insist on a trade value that is at least 4x the price it will sit at for 6 months when you eventually list it for sale. Stick to your guns!

 

[Felt_Lizard]

ADVANCED WARNING:

Just bought a rack in an instance where I only needed a barrel.

Players, just before I get on that plane to SQM, next week, there will be an ~EGREGIOUS~ FLIP ad.

Ya'll gonna' straight subsidizin' my chippin.'

Get your flames and gifs cued up.

 

[MatrixExplosion]

I haven't been here even a year, but I've kept a spreadsheet of all the chips I didn't keep:

Money Spent - $11.005
Money Made - $11,172

$167 PROFIT!

But taking shipping into account, I'm probably $500 in the hole which is not bad at all for such a fun hobby.

One thing I learned early on is that your reputation means everything here. It's not the place to make money off of your fellow members so it's best to let things go at market value, even if it means below your cost.

 

[Josh Kifer]

ADVANCED WARNING:

Just bought a rack in an instance where I only needed a barrel.

Players, just before I get on that plane to SQM, next week, there will be an ~EGREGIOUS~ FLIP ad.

Ya'll gonna' straight subsidizin' my chippin.'

Get your flames and gifs cued up.

I'm already livid at you over this.

--------E

 

[Josh Kifer]

I haven't been here even a year, but I've kept a spreadsheet of all the chips I didn't keep:

Money Spent - $11.005
Money Made - $11,172

$167 PROFIT!

But taking shipping into account, I'm probably $500 in the hole which is not bad at all for such a fun hobby.

One thing I learned early on is that your reputation means everything here. It's not the place to make money off of your fellow members so it's best to let things go at market value, even if it means below your cost.

........

 

[fsupolo]

Team 100% Money Spent / 0% Money Back In

 

[greenchip]

That’s why someone is constantly buying chips off TCR price deal and underpriced auctions only to put on eBay. Look who is buying now.

 

[greenchip]

I’m selling off my collections, some made money but most I’m selling at a loss. Just in case anyone is wondering.

My harvesting will be at a big loss, but I wanted to collect them and kept harvesting and harvesting plus I don’t live in Vegas, also not many casinos have poker so you have to play against the casino which is always a loss.

Basically don’t flip if you don’t collect, won’t be worth your time.

 

[ChippinUp]

Since we are on the topic of harvesting live chips…

I would assume everyone has different views on this? Obviously harvesting isn’t as easy as it sounds. Said harvester would need to go through a lot more than 100 chips to make a rack, sorting and returning the poor condition chips etc.

In the case of $1 chips I routinely see these selling for $2-$2.50 a chip.

Is this markup considered acceptable or frowned upon? OP included the 15 live chip ads and I’m curious where this sits with forum members. New or OG members opinions welcome

 

[LowerBama1714]

I’m selling off my collections, some made money but most I’m selling at a loss. Just in case anyone is wondering.

My harvesting will be at a big loss, but I wanted to collect them and kept harvesting and harvesting plus I don’t live in Vegas, also not many casinos have poker so you have to play against the casino which is always a loss.

Basically don’t flip if you don’t collect, won’t be worth your time.

Huh?

 

[Tonystark137]

Since we are on the topic of harvesting live chips…

I would assume everyone has different views on this? Obviously harvesting isn’t as easy as it sounds. Said harvester would need to go through a lot more than 100 chips to make a rack, sorting and returning the poor condition chips etc.

In the case of $1 chips I routinely see these selling for $2-$2.50 a chip.

Is this markup considered acceptable or frowned upon? OP included the 15 live chip ads and I’m curious where this sits with forum members. New or OG members opinions welcome

I see it as harvesting of live chips as a free market economy. If the those harvester can sell at their market up and there is enough demand what are we to say they can't meet the marke's demand.

 

[bergs]

That’s why someone is constantly buying chips off TCR price deal and underpriced auctions only to put on eBay. Look who is buying now.

This is also why comparatively TCR prices used to make this hobby a lot more affordable.