New 2023 chip prices and a discussion about the future of Key West
New chip prices for Key West chips in 2023 were posted this morning.
The "retail" price to the public in 2023 will be whatever Classic is charging for a Level 1 H mold chip.
After the PCF discount is applied, denominated Key West chips will cost members here $2.11 per chip. Roulette solids will be $1.70 per chip.
Forces that act on the price are many. I offer the chips here for the price I paid to get them -- simply my total cost for chips divided by the number of chips in stock. That's a bit lower than Classic's retail price because in the past, I've had a large supply of chips purchased one, two or even three years ago, when prices were lower.
But that's changing quickly. As more and more people buy in to Key West, and people seek larger sets of chips, the supply of new, mint Key Wests that have been sitting untouched in boxes on the shelf for a year or two slowly disappears. As they get replaced by new chips bought at current prices, the "average" cost per chip increases.
Some things you may not realize that happen because of this:
- If you place an order for chips only, I lose money on the order. You get the chips for cost + shipping. PayPal takes a bite of both.
- If your address is outside the U.S., and order only chips, I really lose money.
- PayPal's "take" on the transactions has been increasing. Ten years ago, I think it was 2.9 percent of the cost of the goods and 0 percent on shipping. In 2022, I paid nearly 5 percent of total transactions to PayPal. This can't be passed on to customers, or PayPal will kick me off their platform.
- The cost of running Key West as a licensed business has doubled in the past three years, as fees increase and more and more "free service" providers begin charging for the services.
- The time between ordering and receiving new chips has been steadily increasing, making it more difficult to keep lots of chips in stock. Eventually, we'll run out of anything but brand new chips. After that, we'll run out of everything, and be collecting orders for that next run of Key Wests one year or more in advance for people who have or want Key West chips and don't mind waiting.
That time is rapidly approaching and will likely arrive soon.
I'm seeking new ways to ensure that Key West remains alive and available to everyone here who has or wants more Key West chips.
Meanwhile, I appreciate the strong support of members here who love the Key West design as much as I do, who own their own set of Key West chips, and who would like to own a set in the future.