"I just can't see how we can POLICE and send emails to the sellers without getting into hot water vies a' vie' "restraint of trade"

No restraint of trade here. we are notifying in a polite way that the seller has represented the chip falsely, and as an educated collector, you are doing him a service by informing him. even though they darn well know what they are selling and misrepresenting, we come off as if they don't. "We're sure they'd want to know"

"We would have to be on continuously."

It doesnt have to be an all or nothing venture. So we allocate a bit of time. No big deal. The trick is communicating between the task force people towhom they are adressing to avoid redundency..

"and be willing to send a form letter/email advising the seller of their NO/NO"

absoluetly !