John... You and I really have no argument here on your right to protect your chip price and your investment. However, you state: "There is no way in God's creation that I can sell this chip for less than I did to the previous bidder ($1,200)". Then you state: "I placed a reserve on the chip for $1200 with a $650 minimum bid hoping to get a few bids". My question is WHY WOULD YOU WANT TO "GET A FEW BIDS" THAT YOU HAD NO INTENTION OF ACCEPTING! Why not put the chip up for auction with a starting bid of $1,200, why play the games?! You seem like a very honorable and conciensious chipper, why toy with people making a good faith bid, that meets your opening bid criteria but not even close to what it is going to take to buy it! Nobody's chip is going to get "stolen", the opening bid will protect against that. You say that the chip did end up selling, and I am sure it did. I am also sure it was not the low opening bid that sold the chip! The chip would have sold if the minimum bid was $1,200 too, and saved the "bargain hunter" bidders the hassle. Bargain hunters are not the scum of the earth, no one is forced to sell a chip for less than they will accept for it. This is called an "opening bid"!