You have a point, but keep something in mind. Dealers/Collectors do not have unlimited funds. Just because something is undervalued doesn't mean you can or should automatically buy it at every available opportunity. The main point I was making was that, in my opinion, there are not enough new buyers on ebay to keep up the price of certain chips. An interesting question to ask is: what percentage of the club membership seriously looks to buy on ebay? Then, ask yourself what the ebay prices would be if everybody on the club was following the auctions all the time. That's closer to what I was getting at.