As a chip dealer who buys and sells chips via mail-order for several years now, I think that your characterization of the non on-line collector as being "an uneducated buyer" is not an accurate portrayal. Many internet buyers who ARE on-line sometimes pay outrageously high prices for their ebay purchases. But I presume, by your portrayal; they could be considered "educated buyers". If so, that's an elitist postion to take.

Several of my customers who ARE also on-line simply do not have the time, nor interest, to regularly follow ebay chip offerings and have provided me with their want list for chips ... as is the case with most other reputable chip dealers. If ebay is the final word on chip values, who would pay retail prices at dealer tables at chip shows held around the country ... (other than for scarce or hard to find chips)? They would simply wait for the chip to come up on ebay.

Can bargains be had on ebay? You bet..., all the time. Bargains can also be found which do not regularly appear on ebay, at chip dealer tables. For the most part, it is my humble opinion that ebay frequently serves as a dumping ground for some people who have no other outlet to sell or unload their duplicate chips... and there's nothing wrong with that. Everybody loves a bargain. Tougher chips in top condition, with lots of bidding competition, don't usually go very cheap.

One closing note about ebay. It has been my personal observation that many of the better chips that sell for way below retail prices are for chips that are not in top condition. Frequently I see references to what low price such and such a chip went for on ebay ... but failed to note the condition of the chip sold. I note that your filter statistics does not address condition; or excuse the term ... "rarity". May I ask how many of the 4000+ chips in your study are more commonly available LE's or current rack chips?