...is that because of the disparity in pricing between eBay sales and dealers' binders, or is there another reason?

Exactly right Jay! If a Pit chip regularly shows up at the shows at $225, could you say that is the current price of the chip, even if it never gets sold from the dealer's binder but just continues to appear at every show at $225? Perhaps, if you don't take into account eBay sales of the same chip which occur on a regular basis in the $50-$90 range or even "no sale" at the same range.

Not to fault anyone's value guide as they are a cornerstone of the hobby and a gift from dedicated chippers. Time lags and market volatility are part of the hobby and we never expect these folks to have the perfect answer to every question!

Interesting obsevation by you Jay ,about "F" chips you've never seen. A regular part of Saito's pitches (and he is Right!) is that a particular chip is disappearing into collections and off the market. A chip may exist in number, but if few are available for acquisition...? Here's a $40 chip (R-5) that I've only seen one of, mine! NFS of course.

Thanks for the numbers and offering up the topic Jay!