Nipping sounds like a disciplinary bite.
As in,
him disciplining
you for something he dislikes.
If he ever gets his way, it reinforces the behavior and the nipping become more frequent, since it's self rewarding. In effect, anyone who has ever responded the way he wanted by pulling hands back or leaving him alone has helped teach him TO nip.
One of the big dividing lines between acceptable and work-withable to me is if the animal draws blood
intentionally. A rabbit that will intentionally break my flesh with it's teeth goes strait to freezer camp.
If they nip to tell me something, then they are
trying to communicate socially, and should be able to get the gist of me telling them that's not how it works.
You might try handling him more securely, and not allowing any chance for nipping, He needs to learn you can and will firmly (but gently) keep him in position and not allow any biting until he surrenders to the situation.
Of course, terminally culling his always an option. Selling is OK to the right person, but I wouldn't suggest doing so without a full disclosure.
Not a good choice for petting out.