Handling quantity is the toughest part of the hobby. I looked at someone’s inventory earlier this year, and they had 100 z rated chips ($800 each in the chip rack). They thought that they had $80,000 in value, and priced the lot accordingly. Unfortunately, for most chips, finding 100 buyers at more than $100 to $200 per chip is unlikely. The seller had two choices:
- Sell a few (1 to 5) at $800 each, and sit on the rest
- Sell them all for $50 each over the course of a year. These chips were a very esoteric Nevada issue, with limited demand.
While the numbers are slightly different with these, there are likely three buyers at $50 to $75 each for the orange, the value of the greens is likely much less, and the buyer is going to sell ten quickly, and sit on the rest for years. Thus the maximum value of this group is much less than $6,400, and closer to $1,500 to $2,000 of everything sells.
The buy price needs to correlate to the sell price, so set expectations accordingly.
John
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