Peter S. Please read my response to Peter Gaby one more time. Evidently you must have missed something.

Here is Peter's question..... "If a customer showed up at this years convention and had that chip in a slab and wanted to sell it to you for say $1500 - What would you do."

You then state; "You've signed onto a pledge not to buy ANY chip from a dealer who sells slabbed chips."

First of all, Peter Gaby's question clearly stated "Customer" .... not dealer.

In order to comply with the proposed ban, I suggested that the hypothetical CUSTOMER go crack his chip out of the hypothical slab and come back with the "RAW" chip and that I would purchase it. I don't care that he paid $3000 or $10,000 for this chip a year ago. At three grand, I wouldn't be interested in it if the slab were gold-plated. He's now offered to sell THE CHIP for $1500, which I have agreed I would purchase, cracked out of the case, UNSLABBED. I didn't set the hypothetical price, Peter did.

"Well Archie, what difference does that make. He either bought it slabbed, or he got the chip slabbed for the purpose of helping him sell it."

The fact that the chip was slabbed had no bearing on the transaction. I was present at the auction when the chip was sold ... UNSLABBED. I know for a fact there were NO SLABBED chips sold at last year's auction. So obviously the hypothetical customer had it slabbed after he took possession of the chip. The customer has now devalued the chip on his own doing. I've merely accepted the customers 50% discounted price of what he paid for an UNSLABBED CHIP. So in essense, I'm purchasing the same chip, under the same circumstances the customer purchased it a year ago .... at half the price ..... unslabbed.

"So how come it would be alright for you to buy a $3,000 for $1,500 as long as it gets cracked out of the slab?"

Because if some hypothetical person wants to sell a valuable chip for $1500 that he purchased at the club auction the previous year for $3000, and had it slabbed after he took possession; I've pledged not to purchase a chip that is housed in a slab at any price. The only way I can purchase that chip and be true to my pledge is if the jerk takes his chip out of the slab before selling it to me..... which is stupid... like most hypothetical situations are.

Hope I've answered your hypothetical question Peter... without talking down to you by the way. Happy holidays .....