I think the prices are pretty stable for chips and why should people buy at inflated prices? No one is twisting their arm to buy a $1 chip for $4 and pay shipping as well.

It has already been mentioned in many other posts that prices aren't stable. They the have been on the decline for many months from my understanding of some of the posts on this board.

Book values and what something sells on Ebay are not even close to each other. But, that is not neccesarily the fault of snipers. I see auction items sell well below book value all the time. it is lack of research on that sellers part. This of course hurts the true value.

Sorry, not really talking to you point. I see current chips going for 3x their face value all the time. Because of the bidding wars that can ensue with a 5 minute rule, auction that will end up going for 4x face value is not an unrealistic assertion.

, higher priced and harder to find chips may go up, but the common chips are avalable from numerous sources.

Many newbies don't know of the numerous other sources. Just Ebay and actually going to the casino.

please tell me why the sellers should get screwed? I didn't get that part.

I am not proposing sellers should get screwed. But, explaining how the buyer may get screwed with the use of a 5 minute rule.

I do believe there is a solution that would benefit both buyer and seller. I don't see the 5 minute rule as being the solution.

I see it alienating a lot of potential new buyers. And sometime down the line overinflating the market which will eventually lead to a bubble. One that will bust and hurt a lot of collectors in the process. Just my opinion of course. But, bubbles do happen. Maybe Ebay prices are closer to true value than many collectors want to admit.

Ebay (and other auctions) do not set book values. I've seen a chip that I searched for for two years sell for $8, but anyone who collects Wisconsin would agree it's scarce. It sells at shows for $20. Which is getting way up there for anything Wisconsin! LOL

If there was a book on that chip it would probably be $40, not the eBay price.

Ebay auctions definitely don't set book value. You are right there. But, since it is the large market to move chips you have to either live with the heavy discount or sell in another market. I for one would not sell my chips on Ebay. Unless I lived in Vegas and could get all my chips at face value.

OR are you saying that buyers are so stupid that they would pay $4-6 for a chip that they could get from any of us, or any dealer, for less?

Not stupid. Just in many cases uninformed. That is why you see chips selling for far more than they are worth. There are unaware there is even a market for chips. They just want it. And, yes, the only person to blame is themselves if the buy at an outrageous price.

Point being is the 5 minute rule will just like make things worse from the buyer side of things.
What is needed is a solution that will keep both buyers and sellers from being screwed.

As far as inflated prices and people giving up, take a look at the Silver Strike situation. I do agree with you about high prices and over valued items driving out collectors and the eventual crash. I just don't see it happeneing to chips, if we had real auctions, instead of a game of cat and mouse.

That is the nature of Proxy Bidding Auctions. That is why they clearly state Bid the maximum you are willing to pay and let it go from there.
Even if it is to the penny if neccesary. If people would abide be that suggestion the prices would increase to more reasonable numbers and both sides would be less likely to get screwed.

Rick G.