Maybe I just don't get this protection stuff? Is the $1,200 reserve just there for "show" so the previous purchasers still feel good about their purchases? Or would you acutally sell this chip for the $840 you talked about (I am assuming this was your opening bid)? If you are offering "true protection" and $1,200 IS THE PRICE, how would placing a $1,200 opening bid jeopordize that? The only reason I could see for having a $840 opening bid and a $1,200 reserve is if the seller was going to consider a price lower than the $1,200 figure, but he could contact the bidder privatly and accept a lower offer and still give people watching the auction that it was "no saled" (like maybe the previous buyer at $1,200!) giving the the impression that this was still a $1,200 chip.

Again, I have no problem with attempting to protect a chips value. If $1,200 is the $$ point you want to protect, a $1,200 opening bid says it loud and clear! and you have not wasted the time of the people that are not prepared to pay that price (you know, those bargain hunters looking for the miracle, that ain't going to happen!)

Steve