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ok under the rules i know that loot, magical or otherwise, is purchased on the chronicle sheet. Allowing each player the ability to purchase each item found.
what about items they wish to sell? does every player have the option to sell each item found through the course of the adventure?
example say the players find a non magical piece of jewelry after an encounter worth 500 gp. does every player get to sell that on the chronicle for an extra 250 gp, or does only the one who walks away with it after discovery get to sell it?
my inclination is to allow each player to sell the item (to prevent infighting over loot) or buy it if they want to keep it. but i wanted a clarification on this. i reread the guide and did not see anything that would sway me one way or other. of course this does not mean it is not in there i just did not find it.
also the players wanted to sell the magic items found that they did not want to buy. I said no to this. I told them that all magic items they do not purchase are turned into the Society. that they are in essence buying the loot from the pathfinder society. was that a correct?

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The way I've always understood it is that each player's share of all the treasure found is represented by the "Max Gold" amount for the tier played. Individual treasure items are in-game flavor, but get reduced to a base amount at the end of the game.
And you can't sell the magic items. They are only available for purchase to the players. So, yeah, your call was correct.

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All loot found during an adventure (magical or otherwise) is considered sold back for gold at the end of the scenario, and is wrapped into the max gold amount listed for the tier on the chronicle. If a player wants to keep something beyond the end of the scenario, they have to buy it.
Hope this helps.

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That's correct.
The GP value given at the end of each encounter is calculated by taking the total selling value of all treasure found in the encounter and splitting it 4 ways. Including the magic items, whether used or not.
This speeds up the whole treasure division by doing it behind the scenes, and prevents 1 player from getting all of the good items.

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All loot found during an adventure (magical or otherwise) is considered sold back for gold at the end of the scenario, and is wrapped into the max gold amount listed for the tier on the chronicle. If a player wants to keep something beyond the end of the scenario, they have to buy it.
Hope this helps.
ouch OK, guess i was totally wrong on the first one. good thing i have not reported the event yesterday. I will correct the chronically sheets asap.