Market Manipulation?

philip.ploegerb16_ESO

Warlock Rings are kind of rare, don't know why. In my trade-guilds, there are at least 50-80 warlock parts that are not rings, last time I looked though, there wasn't even a single ring. Ofc talking about the VR12 versions, though even low-level Warlock Rings have become rare.

Maybe someone screwed up the Drop-rate.

k9mouse

Glad I keep my low level ones. I also have the high level version too.

Attorneyatlawl

Skylandra wrote: »

"Would you kindly stop spamming /z with your over inflated prices - Thanks"
- that one normally sorts them out.

Actually it just elicits laughs from anyone actually buying or selling these items. Can't afford it? Don't buy it. Don't come to the forums whining that someone won't give away the loot they earned to you for a song. If it is actually overpriced it will never sell. Free market in an mmo works both ways. Problem solved.

Nestor

Heck, I have sold my Warlock Rings to venders for 38 gold....

Drjones501

I'm guessing the bubble on those rings will burst when demand runs out soon enough, just ride it out.

PBpsy

Troponin wrote: »

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?

What guild shop have you seen Signet under 30K for the last month? I have gotten lucky to get one for 30k and one for 20k which at the time were pretty good deals.

renton1x1x1

i bought 4 v12 warlock rings at guild kiosks throughout tamriel for 4-10k

i then put them for sale at 30k each on my trade guild (which has a kiosk in craglorn)1 sold waited 2 days dropped the price to 24k and they all sold.

think of them being luxury goods being sold in a premier location. people going on that trade kiosk have the money to buy and don't want the hassle of spending an hour going around different kiosks. i do this anyway looking for food ingredients - mainly mudcrab meat and mountain berries.

short answer: shop around buy low determine current market price and sell if it doesn't sell lower price until does

Armitas

The trade guilds in Craglorn are so laughably overpriced that I stopped going there after 2 days. I just go down a region till I find a reasonable price. I can get the same stuff that Craglorn is charging for 40k for 1k in a lower region. I would avoid Craglorn like the plague. A few bad apples ruined it for everyone there.

PBpsy

babylon wrote: »

show previous quotes

Circuitous wrote: »

'Cuz 30k is a drop in the bucket and that item would make the content necessary to get to VR14 easier?

It's actually not that big an upgrade from the VR1 jewellery. If you feel you need the VR12 jewellery to succeed then it's probably your playing that needs to be looked at more than your gear.

At VR12 squeezing that 2 extra points of magicka regen and 10 extra damage from our build is pretty much what we have left to do. Who really cares about that gold ?

firstdecan

Skylandra wrote: »

"Would you kindly stop spamming /z with your over inflated prices - Thanks"
- that one normally sorts them out.

This should be the standard response to anyone selling in zone chat.

"150g for a blue motif? Stop spamming with your over inflated prices - thx."

timidobserver

Troponin wrote: »

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?

It is really basic. With the ability to enchant dropped set items, Warlock is one of the best(not saying the best because I don't feel like dealing with that one guy that feels the need to argue that point) jewelry slot items for many many different builds.

At any given moment more people need it than have it. So, smart people probably noticed that everybody is trying to get Warlock rings and they are very good in slot items for most builds, therefore they are selling them for more.

Vahrokh

Price is made when offer meets demand. A guy asks for 50k? That's not price. That's asking for 50k. The guy sells for 50k? Then price has been made.

So if people buy for 40k then price has been made to 40k. It's been made to 40k because the guilds who could super-efficiently farm trials are on heavy farm status and don't bother grinding that content as often any more.

I have counted our last trial yesterday: out of 2 runs (one a time run) we got 1 chest, 2 hats and 1 ring. And a massive amount of "just good for deconstruction" blues and purples (funny how purples are so less valuable than blues sometimes). Also, you tend to need two rings so the demand is doubled right at the start.

Result: if you want to make a price you believe it's fairer then go and farm trials yourself and then give away your rare drops.
We'll be there laughing.

Attorneyatlawl

Vahrokh wrote: »

Price is made when offer meets demand. A guy asks for 50k? That's not price. That's asking for 50k. The guy sells for 50k? Then price has been made.

So if people buy for 40k then price has been made to 40k. It's been made to 40k because the guilds who could super-efficiently farm trials are on heavy farm status and don't bother grinding that content as often any more.

I have counted our last trial yesterday: out of 2 runs (one a time run) we got 1 chest, 2 hats and 1 ring. And a massive amount of "just good for deconstruction" blues and purples (funny how purples are so less valuable than blues sometimes). Also, you tend to need two rings so the demand is doubled right at the start.

Result: if you want to make a price you believe it's fairer then go and farm trials yourself and then give away your rare drops.
We'll be there laughing.

A+++++++ post, would read again.

/agree

HeroOfEvbof

I love that quote "Price is made when offer meets demand".

vyndral13preub18_ESO

philip.ploegerb16_ESO wrote: »

Warlock Rings are kind of rare, don't know why. In my trade-guilds, there are at least 50-80 warlock parts that are not rings, last time I looked though, there wasn't even a single ring. Ofc talking about the VR12 versions, though even low-level Warlock Rings have become rare.

Maybe someone screwed up the Drop-rate.

I've wondered this as well. But We may just be unlucky.

SaiJinu

Troponin wrote: »

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?

With no real global Ah many players will just control the prices because of the few choices of find items only witin few trade guilds , and this allow some to jsut exploit the prices.. Good job devs

diwie

Troponin wrote: »

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 ve noticed the same. To me it is result of guild stores and item adjustment (now 2 rings needed). Some month ago the normal and vet 1 where rare and kind of expensive for the level.
I m sure prices for the ring will drop in the future. At the moment you can get the other warlock v12 parts for <5k gs. So I expect the blue v12 rings will be available for around 10k in a month. Now you would be silly to sell them for that price to others (than me).
Same thing happens to rare motives. I can remember that we got the full "set" in trading guild store (500 member) for about 25k and nobody wanted to buy.

OrangeTheCat

Hey OP: US housing market. There's an example of a manipulated market like the one you are asking about in game. Few complain about it (but they should).

smacx250

When they switched the Warlock set from 3-items to 5-items, I found I now needed two rings since I was using the other armor for a different set. As was noted above, it may be that a lot of others did the same, causing a spike in demand and a price bubble that has yet to resolve.

Yusuf

I've sold warlockrings for 30k and more the same day guildtraders were released.

Troponin

smacx250 wrote: »

When they switched the Warlock set from 3-items to 5-items, I found I now needed two rings since I was using the other armor for a different set. As was noted above, it may be that a lot of others did the same, causing a spike in demand and a price bubble that has yet to resolve.

The people that complain are the people that got screwed.

The people that like it are the people doing the screwing.

The people that don't care are the ones that haven't been affected. They will become the complainers as soon as they need to get involved though

DenverRalphy

philip.ploegerb16_ESO wrote: »

Warlock Rings are kind of rare, don't know why. In my trade-guilds, there are at least 50-80 warlock parts that are not rings, last time I looked though, there wasn't even a single ring. Ofc talking about the VR12 versions, though even low-level Warlock Rings have become rare.

Maybe someone screwed up the Drop-rate.

The rings aren't actually more rare, they're just in higher demand. Jewelry can't be crafted. Jewelry drops are in higher demand because it allows the player to save their craftable slots for more easily obtained set items. As a result, jewelry set items tend to sell faster.

crislevin

Not sure if anybody will buy it, v14 is around the corner, why buy v12 items with that kinda of money?

Fissh

umm...supply and demand. Next topic.

smeeprocketnub19_ESO

It's easy for pve'rs to make gold, high end gear throws itself at them. The rest of us deal with money sinks and nothing of worth to sell to make money.