Here's an update on recent slabbed chips on eBay. I don't think you'll need a Harvard MBA to analyze the profit potential of this group of slabbed chips - - -
Background: A week ago, a "middleman" seller on eBay, named NuMarkets, listed 6 common slabbed chips on eBay. (NuMarkets is one of those places that you drop off your stuff, and they will list it for sale on eBay for a commission.) NuMarkets' original customer most likely is International Grading Service (igsgrading.com) or someone connected with it.
Results: 5 of the 6 slabbed chips received no bids at all. (The $7.96 per item shipping charge didn't help!!)
The remaining chip did sell -- a $5 Harrah's LE chip. Sold for $3.99 opening bid, plus $7.96 shipping. So...
Buyer gets a slabbed $5 chip for $11.95
Middleman (NuMarkets) makes 40% commission ($1.60), plus some profit built into the shipping charge .. but loses money and time on the 5 unsold listings.
Original owner (IGS ?) gets $2.40 (sales price, less 40% commission charged by NuMarkets) for the $5 chip !!! and has the other 5 unsold slabs returned.
But... they're trying it one more time. Six additional (different) slabbed chips were posted yesterday by NuMarkets, this time with a lower ($2.75 each) shipping charge. Starting at $2.99 for the $1 chips and $3.99 for the $2.50 chips.
If this new batch doesn't sell, maybe NuMarkets will decide not to list any more of IGS's slabbed chips.
FYI, links to the eBay Harrah's $5 slab & link to IGS --
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=6227195703
http://www.igsgrading.com/gradingscalechips.htm
|