We all have at one time or another. Collectors pay more than they should for items in any hobby at least once. Don't let it sour you on the hobby though. Instead, keep that item nearby as a reminder to do your homework. The more you know about the hobby and what chips sell for, the better prepared you are to make good decisions when buying chips.
Ask fellow collectors what a chip you are interested in has sold for. Search the Internet to see if you can find the same chip for sale there. Check The Chip Rack and the U.S. Price Guide to get an idea of the value of a chip.
Do your homework and it will payoff in the long run.
