The whole agrument "prices will skyrocket , there will be price fixing", etc is just not true - this is basic economics , supply and demand. If 1000s of players all have jute listed the price will naturally begin to drop until the demand > supply.
In an MMO, it does not work. Here's why.
1, Gold farmer is sitting on millions of gold, because unlike normal players, he is(actually, hundreds of bots and sweatshop workers) grinding the game 24/7.
2, 1000s of players all have jute listed at ~20 gold.
3, Gold farmer buys all that jute (he has virtually unlimited gold source) and reposts it at ~400 gold.
Nothing will naturally drop - as soon as someone posts jute for less than 400 gold, the gold farmer will buy it milliseconds later(automated program) and repost it at 400 gold.
That's with global AH. Guild stores on the other hand cannot be manipulated so easily - there is no way for the gold farmer to instantly re-buy all jute anyone posted in any of the hundreds of individual guild stores.
Its not an lack of loot in ESO, rather the opposite, add that few items are bound to account. For raw materials everybody can collect everything.@vencibushy
Exactly, and well said. For some reason, people believe that "someone must protect us!" from "predatory" economic practices. The fact is, the ONLY thing that offers any protection in economics is a free, self-regulated market.
Any time you introduce control measures into a market, you change the best way to be successful from the model of "provide the best goods/services at the best price" to the model of "learn the best methods for gaming the system".
Its not an lack of loot in ESO, rather the opposite, add that few items are bound to account. For raw materials everybody can collect everything.@vencibushy
Exactly, and well said. For some reason, people believe that "someone must protect us!" from "predatory" economic practices. The fact is, the ONLY thing that offers any protection in economics is a free, self-regulated market.
Any time you introduce control measures into a market, you change the best way to be successful from the model of "provide the best goods/services at the best price" to the model of "learn the best methods for gaming the system".
Most players are not after maximizing profit but making sure and fast sales, you see 10 other selling one item so you put your own price a gold below the others. The next one repeats this. Result is that prices falls for most stuff, the exception is any rare items where demand is larger than supply, here the price will be high often very hight as all the players with lots of gold has little else to use the money on.
Imagine that tempers to take stuff up to legendary will be legendary expensive, no it would not really be worth the 5% bonus but its the only way to get it.
You say that like it's a bad thing. Scarcity creates value. Things that are more rare, and more difficult to obtain SHOULD cost a lot more than things that are common and easily obtained. Why should I pay more than a pittance for white crafted gear when with a little effort, I can make it myself? Or, even easier, find hundreds of thousands of other crafters who can make the same thing, and are asking less?Its not an lack of loot in ESO, rather the opposite, add that few items are bound to account. For raw materials everybody can collect everything.@vencibushy
Exactly, and well said. For some reason, people believe that "someone must protect us!" from "predatory" economic practices. The fact is, the ONLY thing that offers any protection in economics is a free, self-regulated market.
Any time you introduce control measures into a market, you change the best way to be successful from the model of "provide the best goods/services at the best price" to the model of "learn the best methods for gaming the system".
Most players are not after maximizing profit but making sure and fast sales, you see 10 other selling one item so you put your own price a gold below the others. The next one repeats this. Result is that prices falls for most stuff, the exception is any rare items where demand is larger than supply, here the price will be high often very hight as all the players with lots of gold has little else to use the money on.
Imagine that tempers to take stuff up to legendary will be legendary expensive, no it would not really be worth the 5% bonus but its the only way to get it.
Its not an lack of loot in ESO, rather the opposite, add that few items are bound to account. For raw materials everybody can collect everything.@vencibushy
Exactly, and well said. For some reason, people believe that "someone must protect us!" from "predatory" economic practices. The fact is, the ONLY thing that offers any protection in economics is a free, self-regulated market.
Any time you introduce control measures into a market, you change the best way to be successful from the model of "provide the best goods/services at the best price" to the model of "learn the best methods for gaming the system".
Most players are not after maximizing profit but making sure and fast sales, you see 10 other selling one item so you put your own price a gold below the others. The next one repeats this. Result is that prices falls for most stuff, the exception is any rare items where demand is larger than supply, here the price will be high often very hight as all the players with lots of gold has little else to use the money on.
Imagine that tempers to take stuff up to legendary will be legendary expensive, no it would not really be worth the 5% bonus but its the only way to get it.
If people like within guild auctions, that's fine...we still need a public one.
Guild wars 2 is doing just fine with a global auction house, so is EvE. In fact i have found that material prices have dropped dramatically since launch in GW2.
merryblues wrote: »
Trade channel yes.
I can't believe that some of you are still hanging on to the laughable "gold seller" arguments. Even after being literally disproved by the gold sellers. Although just about every argument against a better trade system has been laughable... You sound like broken records at this point.
And yet you guys are the ones that can't let these threads die, but continue to say the same things over and over in new threads.
Cablethewolfb14_ESO wrote: »OK, so i have read a lot about the auction house stuff. I think it's a bad idea. people will abuse it. Look at Final Fantasy on-line's or even Blizzard's attempt to make a stable one. human's are greedy, join guilds or offer your items in chat.
(2) Create a trade channel. Zone chat is unusable at present. I turned it off weeks ago.
Zenimax could do much worse than copy GW2's inventory system and AH, in fact i would praise them to no end if they ever did that.
@vencibushy
Exactly, and well said. For some reason, people believe that "someone must protect us!" from "predatory" economic practices. The fact is, the ONLY thing that offers any protection in economics is a free, self-regulated market.
Any time you introduce control measures into a market, you change the best way to be successful from the model of "provide the best goods/services at the best price" to the model of "learn the best methods for gaming the system".
First:
Personally I like the guild stores I can get stuff at what I consider a reasonable price and sell stuff in it for, sure alot less than I would if I was posting it on a Server wide AH, however, is not the purpose of being in your guild to assist other guild mates and have them assist you?
Or is the reason you want an AH so you can inflate the going prices that EVERYONE has to sell and buy for like the level 10 blue item for 100, 000 gold?
AbraCadabra wrote: »Honestly, I haven't missed an AH in this game. I.