... although on a much smaller scale. Here's the scenario:

A couple of years ago I brokered a deal for one of my friends for a set of 500 of the Paulson "Casino de Isthmus City" Bond poker chips. I charged him the same thing I paid for them-- $62/100.

A couple of months ago he approached me, saying that he didn't have much use for them anymore, and was pretty sure he could get a good price for them on eBay, but that he would offer me the chance to buy them first (I already had about 900 at the time). I informed him that they were now 'obsolete' with Paulson being taken over by the Frogs and such, and that he could probably get the best money for them off eBay. However, I told him that I would buy them for $65/100. He readily agreed. I don't know if he needed the money, but he said he didn't want to 'fool with eBay'.

Well, I sold 300 to my brother (same price) for his home poker set, and after taking what I wanted to enhance my supply, am left with about 100-150 of the $25, $100, and $500 that I would consider 'surplus' (the math is wierd because I sold my brother some of my own chips, not part of the 500). I have tried trading them for denominations I want, but to no avail.

So the question is this: I could probably sell them on eBay now for around $3 a chip in groups of 25 (yeah, insane, I know). Am I ethically bound to cut my friend in on a slice of my profits? I certainly told him up front of their potential value, yet I took the 'risk' and purchased them myself. I know my friend wouldn't expect any cut of the sales of his former chips, but I am interested in what you all would think.

Personally, I don't think I am ethically or morally bound to give him any part of the profits if I sell them. However, I will probably split it half with him anyway, just because it will make me feel warm and fuzzy inside , and also because I feel that if I turn them for such a large profit in a short period, that somehow I wasn't 'honest' with him upfront. My sister-in-law tells me I'm crazy (of course, she thinks I was a sucker not to charge my brother the 'market' price for the chips I sold him).

Anyway, sorry for the ramble. I would be interested in knowing any thoughts in this regard. Of course, if anyone has any $5 or $0.50 Casino de Isthmus chips sitting around that they would like to trade for larger denominations, let's work out a trade, and save me the dilemma.

Brent J. Jensen
R-6335
orbis non sufficit