At least give the guy credit for starting the price at what he paid though, it could be worse.
Chip Pricing (1 Viewer)
- Thread starter David O
- Start date
At least give the guy credit for starting the price at what he paid though, it could be worse.
Credit if anyone actually thought these would go for less than $200. Could have started them at $0 still the same thing.
David, too many different personalities to deal with. One person's high is another's low , to a certain degree. On a personal note, I find to hard to call out an oldtimer on a shit price, but a newby, not so much.
For arguments sake they could give profit above 800% to a charity. They get a huge profit, people get amazing chips, and some money gets raised for charity
Not saying they should do this since its their chips and they should do whatever they want. They also shouldn’t be shocked that selling 10% of the chips they bought for a profit that covers the cost of the rest of their chips won’t get people talking. Most of those critizing very well may be hypocrities but there’s no way to tell unless someone gives them a bunch of Paulson customs at cost
hence there’s no clear cut right/wrong just people with a bunch of opinions P.S. personally I’m always happy to pay ridiculously silly amounts for amazing chips if it’s for a good cause!
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An appropriate time to mention that @MD Mike gave me an entire rack of chips once. Karma this man!!!!!!Let the buyers that want to pay $10 a chip do it. Eventually this bubble is going to burst and some of us will feel pretty silly
I have sold chips for a profit, break even, and a loss.
As long as there is demand and limited supply, the prices will be high. This is basic economics. I don’t get upset when I see people selling Paulsons for $3-$8 a chip. I DO wish I was in some of the epic heists, only because I want those chips for MYSELF, not for sale.
But eventually, we all get bored of everything, even unicorns.
I just try to remember karma. If I give someone a good deal, maybe I will get one in the future for myself.
But we shouldn’t be mad about prices. There are always good chips out there for good prices.
The ONE exception to this rule would be price fixing. If two or more people advertise competitive high prices to create artificial inflation. This would be a very negative thing. I don’t know that anyone is doing that, I am just saying. Evil is evil
Poker Zombie
Royal Flush
Yep. I (and many others) couldn't get that chip, so @ChipTalker is willingly f****** us in the a** so he can get a profit that @TheChipRoom could have gotten for his actual effort.
I self censored, so the mods don't have to.
Add to the NEVER SELL blacklist; Chiptalker.
Frogzilla
4 of a Kind
Hold up...on the Jacks I thought you had to buy lots of denoms to meet some distributions. Unless I read it wrong it’d be nearly impossible to get a cash set without some high denoms too. Could this barrel not just be that?
Tommy you really need to make a dislike button
ssanel54
Flush
I think this is a good example of timing coming into play. There are probably lots of people who wanted to buy these chips who would have eventually sold them at market pricing
touche
That is not true. A number of people sold chips at what they paid for them.
Yes, that may not have been the original GB cost, but it is not necessarily the price paid by every seller.
love his character in billions - this season starting off LIT!
I sell chips (mostly) at a profit. Most of the time I can still make a profit even when I sell at what I consider below market price. I try to be open about how my profit is used, and participate in sales and auctions that are for charitable causes (others or my own). I do my best to ensure that the buyer knows what is being offered, and in the best condition that I can offer them. I think there is added value in giving flexible combinations of chips where someone can build a cash or tourney set right away. To those that think my actions are parasitic, I hope you will learn to soften your view. I have made less in 8 months of transactions than some people have made in 1 or 2 deals.
This is pretty silly. If he starts auctioning off chips every other day, then you can start to warm up the pitchforks. With the percentages as they were, you pretty much had to buy chips you didn’t need. He’s auctioning them, so get upset at anyone bidding. They are the ones setting the market price.
20 chips aren’t f****** the entire forum in the a**.
And just how was that over-moderation going to be cured by creating legal problems for a few and attempting to screw a couple of dozen other buy participants?
I don't think you can whitewash that aspect of some people's behavior, no matter how hard you try.
It could be. But an alternative might be to talk among other Jack's buyers and trade or sell back and forth for cost or slightly over to help each other get what you were unable to buy because of the sale conditions.
BTW, that's exactly what happened among many of the early boat chip owners.
MacGrad
3 of a Kind
My definition of "flipping" starts with someone taking advantage of a PCF member's generosity, whether it's just a member selling a single set or a vendor selling a casino rack they've bought.
In most of these cases, the seller knows they're letting the chips go for below "market price" -- they're trying to do the community a favor by selling the chips at a market discount. For someone to turn around and take advantage of the seller by trying to immediately resell for as much profit as possible... ugh.
Blatant profiteering on ChipRoom sales was one of the stated reasons Jim stopped selling on PCF for a while; for all the risk and effort he puts in, I'd rather Jim made the profit than people who want to profit from the board members and were lucky enough to participate in the sale.
In most of these cases, the seller knows they're letting the chips go for below "market price" -- they're trying to do the community a favor by selling the chips at a market discount. For someone to turn around and take advantage of the seller by trying to immediately resell for as much profit as possible... ugh.
Blatant profiteering on ChipRoom sales was one of the stated reasons Jim stopped selling on PCF for a while; for all the risk and effort he puts in, I'd rather Jim made the profit than people who want to profit from the board members and were lucky enough to participate in the sale.
Milo013
Flush
Pay what you can afford to get 'em . . . sell 'em for the best price you think you can get when you're done with them. Anyone who cries about can write their Congressman. It's none of their business.
MacGrad
3 of a Kind
Chippy McChiperson
4 of a Kind
I'm not trying to whitewash anything Larry.
Yes, this..
I'm a little surprised that Jim didn't sell these chips in fixed sets as a way to control quantities of particular denoms, but I suspect he's considered that and found it impractical for some reason.
ChipTalker
Flush
Please, you don't know anything about me and not that I need to explain anything to you but...
I bought a 400 chip set and decided not to keep the 20 x 1Ks and 20 x 500s.
I tried since the beginning to trade for reds (documented in a few threads) to complete the cash set but no takers ... I did however get plenty of offers to buy reds for 400-500 per rack from a lot of the same people in the Jack threads. If you don't like it then don't buy it. If you don't want to sell me chips then don't. But let's not pretend that my 20 chips are the problem around here. I don't get any profit I just pass it on to the guy who will sell me reds for double what he paid so I can have my little 1/2 cash set.
I honestly was not trying to offend and I really do not pay much attention to the politics around here as it is just not worth my time.
If allowed I will gladly cancel (I don't know the rules on that)
MacGrad
3 of a Kind
Thanks for the post, David. I had the same questions. I appreciate the opportunity to compete for what I want at a price I deem fair.
Meddler2
Full House
Honestly, people should be able to sell their property for whatever price they want without all the negative stigma. My house is worth almost $300k more than what I paid for it. Am I expected to sell for the price I paid or what somebody is willing to pay?
Yeah, he's a well-known and mostly despised flipper.
I was a not in the market for Jack chips although I think they look spectacular. I had spent my chip funds elsewhere (cough, Matsui GB).
I've heard nothing but good things about Jim and I'm glad he sold through PCF. My assumption is that he thought long and hard about how to market them in a way that balanced making a reasonable profit and recouping his investment quickly. On top of this, he wanted to make sure the system was as fair as possible. The system he came up with encouraged folks to buy large numbers of chips. I am guessing he anticipated that some folks would buy extra of certain denominations and then trade / resell / etc. That seems like the obvious move. The price increase for the second sale indicates he probably underestimated demand a bit and sold chips faster than he expected in round 1.
If Jim wanted to optimize for profit, he could have set prices very high and sold the chips more slowly over time. Harvard Economists call this the "ChipsDealer eBay Strategy". Clearly, he wanted to move inventory and that's why there is a little room left for resellers.
I can understand the disappointment of folks who wanted Jack Chips and did not get them because of technical challenges. But I also do not fault folks who are reselling their Jack chips. Market forces indicate that chips will go to those that want them the most and are willing to pay for them. This is the purpose of prices. We are talking about a hobby here, so we can't claim a need or measure in an objective way how much individuals "really" want them. What council of elders would decide that?
I'd put the whole Jack's thing in a bucket of commercial activity which is a lot different from some of the friendly deals that happen when folks are filling out sets or doing favors for friends. Folks who take advantage of those kinds of friendly deals are guaranteeing they will not receive future friendly treatment. That hurts themselves more than anything else.
Regardless of price, I'm happy to see chips come to market. I'm glad some BTP sets have drifted out. They will circulate just like the boat chips have. Hell, lots of people here who were not part of the original boat chips purchase have owned and sold boat chips at this point. It's almost like a rite of passage. The same will happen with jacks, and soon enough at discounted prices.
@David O - If you ever decide to auction those spotted birds, I am confident it will be the most epic auction that has ever happened on PCF. But in the meantime keep collecting them until every bird is safely in captivity.
I've heard nothing but good things about Jim and I'm glad he sold through PCF. My assumption is that he thought long and hard about how to market them in a way that balanced making a reasonable profit and recouping his investment quickly. On top of this, he wanted to make sure the system was as fair as possible. The system he came up with encouraged folks to buy large numbers of chips. I am guessing he anticipated that some folks would buy extra of certain denominations and then trade / resell / etc. That seems like the obvious move. The price increase for the second sale indicates he probably underestimated demand a bit and sold chips faster than he expected in round 1.
If Jim wanted to optimize for profit, he could have set prices very high and sold the chips more slowly over time. Harvard Economists call this the "ChipsDealer eBay Strategy". Clearly, he wanted to move inventory and that's why there is a little room left for resellers.
I can understand the disappointment of folks who wanted Jack Chips and did not get them because of technical challenges. But I also do not fault folks who are reselling their Jack chips. Market forces indicate that chips will go to those that want them the most and are willing to pay for them. This is the purpose of prices. We are talking about a hobby here, so we can't claim a need or measure in an objective way how much individuals "really" want them. What council of elders would decide that?
I'd put the whole Jack's thing in a bucket of commercial activity which is a lot different from some of the friendly deals that happen when folks are filling out sets or doing favors for friends. Folks who take advantage of those kinds of friendly deals are guaranteeing they will not receive future friendly treatment. That hurts themselves more than anything else.
Regardless of price, I'm happy to see chips come to market. I'm glad some BTP sets have drifted out. They will circulate just like the boat chips have. Hell, lots of people here who were not part of the original boat chips purchase have owned and sold boat chips at this point. It's almost like a rite of passage. The same will happen with jacks, and soon enough at discounted prices.
@David O - If you ever decide to auction those spotted birds, I am confident it will be the most epic auction that has ever happened on PCF. But in the meantime keep collecting them until every bird is safely in captivity.
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