Raffles affecting chip prices? (1 Viewer)

[allforcharity]

Pontificating about the price someone else is paying for something (including a raffle ticket) is like the guy who pontificates about someone else’s call at a poker table. You may be the smartest guy in the room, but telling someone else what they should do with their own money is just annoying.

BUT (there's always a but), we are also trying to build and maintain a community here, and that means that we try to look out for each other, which includes sound opinions and advice on all sorts of matters, including current market value for chips. We don't want to see members being victims of fraudulent practices from within and without the membership, right? When we're dealing with hard-earned money, do we want reasonable explanations of valuations and somebody who's got our backs when it comes to advice?

 

[RichMahogany]

I won the first raffle I entered too. Ended up selling 3 racks to another chipper at below market prices. Made my money back and then some and someone else got chips they wanted at a good price. I’ve only entered one raffle since then but selling those chips makes me feel like I’m freerolling for another few raffles.

 

[justsomedude]

I won the first raffle I entered for the Iron Bank set. I would have bought that set outright if it had been offered for sale, which it wasn't. I figured I used up my luck binking that raffle and have mostly avoided them since then.

In general, I think raffles are useful for moving large sets that might be beyond the price most people are willing to pay.

4,999!

 

[Poker Zombie]

Point to consider:

If I raffle off a $100 bill, selling entries at $10 each, how many would I sell in a room full of poker players and degens?

If I sell 15 entries, I made a nice profit... and if the person who won only bought one or two entries, so did they...

But does ANYONE think the winner can now sell the $100 bill for anything over $100? Has the price been affected, or has something else been going on?

While I tend to agree in theory, chips to currency bills are apples and oranges.

I can get 100 $100 bills, all for $100 each. I cannot get 100 StarChip sets for any fixed amount.

A $100 costs $100. A playable set of StarChips cost thousands - and that is if someone is selling them at Paulson's cost, which nobody is.

I really want some AS chips, so I recently joined my first for profit raffle. Was it -EV for the participants? Perhaps, but this wasn't about the money. This was about rare, minty Pauslon chips, with spots and colors deemed (by myself) to be the most spectacular chips ever. Nobody has ever said that about a simple $100 bill.

 

[BGinGA]

In general, I think raffles are useful for moving large sets that might be beyond the price most people are willing to pay.

^^ Most accurate and level-headed post in this thread, imo. No surprise that it came from Mark's keypad, either. (y) :thumbsup:

I totally agree with that as a valid use of the format, but still prefer that the seller not 'gouge' the collective community with an unrealistic valuation, and that a BIN option be made available for those who ~are~ willing to pay the seller's asking price.

I also have no problem with picking a lottery drawing winner from all those who state they are willing to pay a seller's asking price. A lottery among competing buyers is a much more fair system than a simple 'dibs' sale..... and it avoids any of the negative stigma that can come with an auction (which typically increases both chip costs and seller profits while benefitting those with large amounts of disposable income).

 

[Potsie1]

I still say raffles need their own sub forum. It's aggravating seeing the raffle thread at the top of the classifieds for days with 5+ pages of "in for 2" and "paid"(n) :thumbsdownn) :thumbsdown:

Omg yes!

 

[Mental Nomad]

While I tend to agree in theory, chips to currency bills are apples and oranges.

I can get 100 $100 bills, all for $100 each. I cannot get 100 StarChip sets for any fixed amount.

A $100 costs $100. A playable set of StarChips cost thousands - and that is if someone is selling them at Paulson's cost, which nobody is.

I really want some AS chips, so I recently joined my first for profit raffle. Was it -EV for the participants? Perhaps, but this wasn't about the money. This was about rare, minty Pauslon chips, with spots and colors deemed (by myself) to be the most spectacular chips ever. Nobody has ever said that about a simple $100 bill.

My point was that the outcome of a raffle doesn't reflect the market value of the prize... Or, to answer the title question, no, raffles are not affecting chip prices.