I Just noticed, over the last week or two, VR12 Warlock signets (rings) have gone from averaging 3-10k gold to 30,000 and over. I can only think of one way it did that, and that's market manipulation. The supply is still very high, so the example here would be similar to ramping. All that it takes is for one or a few people to set the example to artificially raise the normal market price.
I know what some of you will say though; "The value of an item is what someone is willing to pay for it". Well yes, but in a case where a far lesser population can no longer even afford it, should the value remain the same since supply is remaining very high? Is it still the free market and capitalistic structure when a small group of people forcefully drive the price up and out of range of its normal customer base?
nerevarine1138 wrote: »That doesn't actually work the way you've described it.
If only a small group of people want to overcharge for something, they will only be successful if people pay for it. I've seen plenty of people try to offer ridiculous prices on things they have no business selling for those numbers, and I simply tell them that it's not going to happen. Two days of that, and the price ends up magically being lowered to reasonable ranges.
The idea behind ramping is to push the price up to much higher than they are normally. It forces people in to having no choice but to buy at high prices. You push every one of them up so that you can no longer shop around for those lower prices too. In a world (and game) where something is much needed, then people are forced to buy it. In this case, in order to be successful in a game where gear is needed in order to progress, the warlock set is one of the best dropped accessories available, and people need them, in most cases, to be good at what they are needed for. That's my point.
Circuitous wrote: »'Cuz 30k is a drop in the bucket and that item would make the content necessary to get to VR14 easier?
"Would you kindly stop spamming /z with your over inflated prices - Thanks"
- that one normally sorts them out.
Circuitous wrote: »
I've seen and done this more times than I can count, it's never accomplished more than angry tells.
I Just noticed, over the last week or two, VR12 Warlock signets (rings) have gone from averaging 3-10k gold to 30,000 and over. I can only think of one way it did that, and that's market manipulation.
Well yes, but in a case where a far lesser population can no longer even afford it, should the value remain the same since supply is remaining very high?
Is it still the free market and capitalistic structure when a small group of people forcefully drive the price up and out of range of its normal customer base?
Circuitous wrote: »No offense but what VR12 can't afford two 30k rings?
Circuitous wrote: »No offense but what VR12 can't afford two 30k rings?
On a broader scope, I don't think under our current system you could really get a cabal of elite users dictating prices to the entire market , since there are so many outlets for buying and selling. It's easy to see trends in how much certain items generally sell for, but no one can force a seller to sell higher or a buyer to buy at inflated prices. Buyers will pay what an item is worth to them and most sellers price accordingly in their market assuming they want to sell.
Example: I received a poorly written profanity laden email in game yesterday from someone I didn't know who is apparently in one of my trade guilds- from what I could decipher he/she was angry I sold some things for less than he/she was selling them for. I sold at what I felt was a good price and I was happy with what I got. I'm not about to inflate my prices to make some other random seller happy.
So it seems there are some people who are trying to dictate inflated prices, but they are so easy to report for harassment and ignore, why would anyone listen to them?