Steve, not sure how you can keep comparing this sale to your sale of the El Rancho, chips.
I will compare them and hope you don't take offence. I can do it because you supplied the numbers but your sale mirrors many other new find sales.
"I say this having found a box of formerly RARE El Rancho Vegas chips about 2 or 3 years ago that I could not sell more than 20-25 at $125 each which most 'experienced' chippers in the hobby also said was a fair price at the time. Soon after the find, I sold what was left to another party and they have sold for about $60 or so on ebay."
You found 100, sold lets say 23 for $125 = $2875. Not sure what you paid but I am betting a nice profit.
Soon after (SOON AFTER) you wholesaled 77 of the chips. you did not say how much but I guess $25 or less. 77X $25= $1925. Total $4800.
After the sale of the 23 you were a winner and freerolling. You deserved it for making the find.
Why did you wholesale them instead of protecting your 23 buyers. I can not imagine them being very happy about the wholesaling.
You could have sat on them and sold 1 at a time over a period of time and totaled out $12,500. The hobby would have absorbed them over the long haul.
Why the rush?
I’m sure it was not because you had to have the money.
You are not alone. Many collectors and some dealers do exactly as you did, and IMO it leaves a lot of bad taste in the collecting world.
IMO there are dealers that have good size amounts of scarce chips that if numbers known were released would lower the value of them. I would like to see them lower but I give a lot of credit to the people that protect their former buyers. If a new find comes out, then all bets are off. That’s fair.
You said, “I'd say they would be $50 at next years convention.”
I would take that bet if you want to make it. I think I know Charles Fisher and am familiar with his character traits. My bet is, barring a new find* they will be over $90 at next years convention.
I just received an email from him, he is at 19 chips sold. 16 more to get even. IMO 16 more chippers get a bargain. I am glad I was one of them.
*barring a new find.
If a new find shows up, will they be in the same excellent shape with shine in the mold and very little wear. Remember, the ones Charles has were keep in the original box and protected by Dopey Normans mother for 51 years. That fact alone is worth $10.
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