Current not-so-secret group buy? (1 Viewer)
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I think people believe keeping it on the DL will increase the probability of success.
Or it’s possible everybody overpaid for the last 4 “custom” order chips and is trying to get out of chip induced debt now?
don't gaslight me bro, you know exactly what i'm talking about
Aaaannnnnnddddd we have a winner folks. We would have also accepted "Holidays, bad luck with furnace, flooded market from post group buys"
Heh. My point was. Why would a secret group have an open application process. The requirement of it being open negates the secret group.
And I believe the past buys are the reason the market is flooded, rather then the market is flooded for a group buy.
Bro.
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Oh snap. I'm gone for just one month....and now we're allowed to just spew the truth!?
Not you. You didn't go to the truth certification class. Next ones Feb 2021. Sorry man....
Flooded markets are great for buyers that have been holding out and new chippers at least!
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Crap. Well then I can't wait for the next not so secret chips!
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They are. Eventually the market will catch up with new chippers we don't scare off. It's been super interesting watching it week to week.
Not for sellers, like Kyle and me.
Hey, I got alot of good crap for sale too. Those poor hound dogs!
Turns out that a secret group buy can multiply your money by somewhere between 2-8x. Somehow, I think that there might be other ingenious folks on the job.
Forever to Thee
Pair
I’m thoroughly confused by this thread. Anyone care to sum it up for me in laymen’s terms?
Do you mean the basics, or the entire group buy story? Because, these thumbs can only do so much.... Ask @BarrieJ3
Every time there's a "ZOMG EVERYONE'S DUMPING THEIR CHIPS FOR THA NEXT SECRET GROUP BUY!?!?!?!?!" thread, ultimately this is the (probably correct) conclusion.
I like to say that I'm doing pretty ok (knock on wood), but I seriously want to know what some folks here do for a living to be able to just drop $3000-$5000 (or more!) on a set of poker chips. Evidently I went to school for the wrong thing.
It's funny. I started the exact same way. No way. Can't do it. But you'll find your buy your set. Play it for a year or so... Then upgrade alittle.... Then, maybe sell and upgrade another... And sooner or later you got some huge sets. This is a marathon sport unless your @Changster .
Is it bad that I have my whole next 12 months of chipping in my mind planned already?
Now-End of this year:
-Complete project of re-labeling of Jack Detroit cash grail set
-re-label incoming pink Terrible's fracs to make into nickels in my HS Cincy set
Early 2020:
-expand Key West R+C CPC set to start a cash set (have a tourney set already); buy a rack or two of chips/month until cash set is complete by late spring 2020
-order custom 44mm CPC cash set (I'm saving up my sheckles by taking it easy and focusing only on this and the Key West set to be able to afford this)
-order custom display case from @Moxie Mike to display and store custom CPC's
Spring-Summer 2020:
-CPC set hopefully arrives depending on CPC's molding schedule (I think David said they'll be doing over size chips middle of 2020, we'll see what happens)
-start building a mixed THC set that I can eventually label over, probably only one or two racks at a time per month or so depending on what becomes available and for how much
-Maybe start thinking about selling one of the complete RHC mold sets (likely the HS Cincy, the Jack's are going no where) to fund the THC mixed set depending on what becomes available
Late Summer-Early Fall
-complete mixed THC set
-start crossing fingers for invite to the next super secret group buy
2021 and beyond:
-Probably make an oversized 44mm CPC custom tournament set to go along with the cash set I'm planning on having made next year
My name is JMC9389, and I'm a chipaholic.
Okay. So you might need an intervention.Is it bad that I have my whole next 12 months of chipping in my mind planned already?
Now-End of this year:
-Complete project of re-labeling of Jack Detroit cash grail set
-re-label incoming pink Terrible's fracs to make into nickels in my HS Cincy set
Early 2020:
-expand Key West R+C CPC set to start a cash set (have a tourney set already); buy a rack or two of chips/month until cash set is complete by late spring 2020
-order custom 44mm CPC cash set (I'm saving up my sheckles by taking it easy and focusing only on this and the Key West set to be able to afford this)
-order custom display case from @Moxie Mike to display and store custom CPC's
Spring-Summer 2020:
-CPC set hopefully arrives depending on CPC's molding schedule (I think David said they'll be doing over size chips middle of 2020, we'll see what happens)
-start building a mixed THC set that I can eventually label over, probably only one or two racks at a time per month or so depending on what becomes available and for how much
-Maybe start thinking about selling one of the complete RHC mold sets (likely the HS Cincy, the Jack's are going no where) to fund the THC mixed set depending on what becomes available
Late Summer-Early Fall
-complete mixed THC set
-start crossing fingers for invite to the next super secret group buy
2021 and beyond:
-Probably make an oversized 44mm CPC custom tournament set to go along with the cash set I'm planning on having made next year
My name is JMC9389, and I'm a chipaholic.
But I also have two CPC sets going and bought a second limit set, and 1600 Roulettes today. So.... Yeah....
Changster
Full House
Who won the marathon at the last Olympics?
What about the 100m dash?
There you go. I prefer to be Usain Bolt.
Kipchoge. He recently ran sub 2 hours too, in a special event made just for himWho won the marathon at the last Olympics?
What about the 100m dash?
There you go. I prefer to be Usain Bolt.
Changster
Full House
Kipchoge. He recently ran sub 2 hours too, in a special event made just for him
All because of the Nike Vaporfly’s!
You forgot to add "-Purchase sets of minty Bud Jones S2 Mardi Gras themed chips"
DrStrange
4 of a Kind
Let's assume somehow a massive group buy of minty fresh Paulson chips is in the works. GPI doesn't normally take this sort of private order so some level of discretion is essential. Think about how this will work.
There are 5,346 members of the forum at the moment. The first hurdle is to invite each of them to join the open group buy in secret. Perhaps we could do this with private message blast. Easy enough.
First problem. It takes exactly ***one*** member account going to someone not friendly to the group buy. Maybe a GPI employee. Maybe staff at a casino. Maybe some state gaming commission. It seems to me a big potential risk of exposure. Could be the end of the road right here.
The members who want to join in the group buy could gain access to a secret part of the site to discuss design, order quantities and all the other details. Also easy enough. Let's hope the cat isn't already out of the bag.
Not everyone wants to participate. Assume only a third of all the members want to buy mint Paulson chips at cost. 1,782 buyers. I think 1,000 chip ordered per person seems reasonable. That is ~1,750,000 chips at a cost of $2/chip or $3.500,000 { we all know how much we like over sized chips with a gazillion edge spots } As one might imagine, casinos don't need that many chips to operate and an order of such magnitude from an unknown buyer or new startup is going to look bogus.
So how many chips might be "reasonable"? I'd guess 500,000 might be pushing our luck. Perhaps we could spread out the order over a couple of years and buy more than that. but in one single deal we are talking about a 300 chip set for each member. And that is if only a third of all the members want these choice chips. If we all signed up, it is one rack each.
That is a problem. What it likely would mean is people would start buying/selling purchase rights in order to build "reasonable" sized sets. I saw this sort of thing happening in a prior closed group buy and think it would certainly emerge here. I think $2 / chip for my purchase rights seems reasonable. So $4 / chip for most of your set and $2 / chip for 100 - 300 chips.
What if someone gets mad? Maybe they are new to the site and missed the original invitation. Or just didn't sign up. Or someone gets into a flame war. Well you get the idea. One email to GPI kills the deal.
Management is no small task. Organize the group. Get some sort of consensus of design. Gather the first orders then shave everyone back to a reasonable maximum. Handle the exchange of buying rights - this will likely require serious tax advice as such rights are securities and likely should result in 1099s for the sellers of the rights. Gather the money for the chips. Place the order and then divide up the loot! Sounds like a lot of work.
What happens if the deal goes bad? Do you get your money back for private deals to gain extra purchase rights? Who covers sunk costs from the earlier part of the project? What if we lose our deposit?
How do we handle irresponsible members who don't keep to their part of the deal? How about disputes between buyers and sellers?
No doubt I haven't considered everything that I should have. But this all seems like enough be daunting. Running a massive group buy is a tremendous task even without the requirement for discretion. There certainly is demand for something like this sort of massive purchases. But pulling it off seems pretty damn hard.
Good luck sir, I trust in you. Go get the chips -=- DrStrange
There are 5,346 members of the forum at the moment. The first hurdle is to invite each of them to join the open group buy in secret. Perhaps we could do this with private message blast. Easy enough.
First problem. It takes exactly ***one*** member account going to someone not friendly to the group buy. Maybe a GPI employee. Maybe staff at a casino. Maybe some state gaming commission. It seems to me a big potential risk of exposure. Could be the end of the road right here.
The members who want to join in the group buy could gain access to a secret part of the site to discuss design, order quantities and all the other details. Also easy enough. Let's hope the cat isn't already out of the bag.
Not everyone wants to participate. Assume only a third of all the members want to buy mint Paulson chips at cost. 1,782 buyers. I think 1,000 chip ordered per person seems reasonable. That is ~1,750,000 chips at a cost of $2/chip or $3.500,000 { we all know how much we like over sized chips with a gazillion edge spots } As one might imagine, casinos don't need that many chips to operate and an order of such magnitude from an unknown buyer or new startup is going to look bogus.
So how many chips might be "reasonable"? I'd guess 500,000 might be pushing our luck. Perhaps we could spread out the order over a couple of years and buy more than that. but in one single deal we are talking about a 300 chip set for each member. And that is if only a third of all the members want these choice chips. If we all signed up, it is one rack each.
That is a problem. What it likely would mean is people would start buying/selling purchase rights in order to build "reasonable" sized sets. I saw this sort of thing happening in a prior closed group buy and think it would certainly emerge here. I think $2 / chip for my purchase rights seems reasonable. So $4 / chip for most of your set and $2 / chip for 100 - 300 chips.
What if someone gets mad? Maybe they are new to the site and missed the original invitation. Or just didn't sign up. Or someone gets into a flame war. Well you get the idea. One email to GPI kills the deal.
Management is no small task. Organize the group. Get some sort of consensus of design. Gather the first orders then shave everyone back to a reasonable maximum. Handle the exchange of buying rights - this will likely require serious tax advice as such rights are securities and likely should result in 1099s for the sellers of the rights. Gather the money for the chips. Place the order and then divide up the loot! Sounds like a lot of work.
What happens if the deal goes bad? Do you get your money back for private deals to gain extra purchase rights? Who covers sunk costs from the earlier part of the project? What if we lose our deposit?
How do we handle irresponsible members who don't keep to their part of the deal? How about disputes between buyers and sellers?
No doubt I haven't considered everything that I should have. But this all seems like enough be daunting. Running a massive group buy is a tremendous task even without the requirement for discretion. There certainly is demand for something like this sort of massive purchases. But pulling it off seems pretty damn hard.
Good luck sir, I trust in you. Go get the chips -=- DrStrange
200 Motels
Flush
You'd think that the sell off of sets to fund new Paulson sets would lower the value but the classifieds posting that are considered a "deal" are still fairly inflated imo. Ever since the Wynn Charity set, +$5/chip became more common. Flipping for 4x and 5x profit seems to be pretty standard these days but hey, if someone's going to pay it why not take advantage, right?
To get less salty, this forum has given everyone a great shot at nice sets through open group buys and I'm thankful for it.
To get less salty, this forum has given everyone a great shot at nice sets through open group buys and I'm thankful for it.
detroitdad
Royal Flush
Makes perfect sense to me. It would probably save me money if I planned ahead like this instead of my normal impulse buys.
detroitdad
Royal Flush
I think my Bourbon CPC's are about 2.5 years old. I had a good month. I impulse created a set of cpcs (thanks @p5woody ). While they were being made I impulse bought my first set of TRK's.......That shit wasn't cheap.
I think I need a 2020 game plan.
Is that what the bru-ha-ha is all about on your vendor page?
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