Why would I , or anyone, buy a greater mark of potency for 103k from the auction house when I can buy as many as I want from the bazaar for 100k? do they post these to just catch people who don't know any better? Seems like by the time you'd need one you'd know where to buy therm and the price hmmmmmmmmmmm
Yes, they'll do that to make a quick few extra AD off of people who dont know any better. You'll see it to a limited extent with greater identify scrolls too.
But sometimes people will put them on the AH for less money too, and you can catch a break. As the people above said, there's some real class acts out there.
They should be a bit lower than that and NEVER should be at or above 100K. It's not even a convenience factor. It's easier to bring up Wonderous Bazzar and have the item in your inventory for 100K than buying it on the AH (even for 99K) and having to open up the mailbox.
This is incredibly silly, although not entirely wrong.
To explain why, let's have a little economy 101 with VAE.
In a free market, prices are driven by supply and demand. Now, the supply of GMoP is two-way. An infinite amount of them is provided by the Wondrous Bazaar at 100k per pop. This on paper limits the bazaar price to 100k since if you exceed it, someone can always get it cheaper from the bazaar (because of unlimited supply I mentioned). Selling for more than that is possible, since there is stupid people and there is people who can't be arsed to walk over to the Bazaar - however, given that the sales tax is 10%, you would need to sell at at least 11111 GP to break even if you were buying the GMoP to sell from the bazaar, and that's a margin far too huge for everyone but complete morons to ignore. Therefore the only viable source for AH GMoPs is finds.
Now, given that GMoP can be found as well as bought from WB, the price will tend towards less than WB price as undercutting WB just about guarantees you'll make a sale, and finding it was technically free (the game doesn't have IC labour costs, unless you go into commercial refinement of enchantments and the like).
Now, when the supply is plentiful there's a powerful motivator towards undercutting competition - not only will a customer have the natural tendency to buy for the least, when you are selling on the AH, the listings which have the lowest price are displayed first, making them the most likely ones to be seen.
However, at present, there is a high demand for all sorts of refinement items, meaning that the AH listings get relatively clean, and you can get away with charging a whole lot more - in some cases, creeping towards listed WB prices.
Plus, I believe a number of exploits was eliminated, closing off the supply of a host of cheap items sold underprice.
So yes - there's nothing preventing the prices climbing up, asides from the rational behaviour of the actors. XP
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beckylunaticMember, NW M9 PlaytestPosts: 14,231Arc User
edited April 2015
Most of the overpriced GMoPs on the AH are not "free" boss drops but listed by lockbox profiteers, who are for the most part perfectly happy to take advantage of those who don't know any better.
(If I see someone's character listing GMoPs for more than retail, I lose respect for them as a person, and I do remember names.)
I'd say for the same reason I bought a Pro Asset Pack for 1600Z.. A brain <font color="orange">HAMSTER</font>. I could of got 800k AD for that Z and bought all purple Assets from the AH and still came out better and with more left over than what I got from that Pack.. buyers remorse.. =( and lesson learned.. always check everywhere before committing.
Most of the overpriced GMoPs on the AH are not "free" boss drops but listed by lockbox profiteers, who are for the most part perfectly happy to take advantage of those who don't know any better.
(If I see someone's character listing GMoPs for more than retail, I lose respect for them as a person, and I do remember names.)
Heh, well.
I don't see anything wrong about profiting from stupidity, especially not in a videogame. That said, it makes me wonder as math tells me that there'd have to be a 2/3 GMoP drop rate from lockboxes at the very least for them to even break even getting AD for zen for keys rinse and repeat. And of course, without that, not much profiteering will happen.
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beckylunaticMember, NW M9 PlaytestPosts: 14,231Arc User
edited April 2015
Lockbox churn requires selling all the things, including whatever appears to be the most bang for your trade bars. The profitable boxes make up for the duds. High volume and high turnover. I could give the names of lots of people who do it.
This is incredibly silly, although not entirely wrong.
To explain why, let's have a little economy 101 with VAE.
In a free market, prices are driven by supply and demand. Now, ... [blah, blah, blah]
A long, important looking argument that doesn't support its claims. The very definition of specious.
chrcore was entirely correct ...
There is no economics theory at work here, just predation and ignorance.
[and if I really need to explain, there is absolutely no convenience argument that can be made for the AH, since nobody needs to be "arsed to walk over to the Bazaar" to use it -- just click the Bazaar button in your HUD, no matter where you are, no mailbox required --- and the GMOP prices didn't just rise during the lead up to Mod6 -- they've been at the 100k+ level for many months, probably over a year now]
A long, important looking argument that doesn't support its claims. The very definition of specious.
chrcore was entirely correct ...
There is no economics theory at work here, just predation and ignorance.
[and if I really need to explain, there is absolutely no convenience argument that can be made for the AH, since nobody needs to be "arsed to walk over to the Bazaar" to use it -- just click the Bazaar button in your HUD, no matter where you are, no mailbox required --- and the GMOP prices didn't just rise during the lead up to Mod6 -- they've been at the 100k+ level for many months, probably over a year now]
*snrk*
Well, what did you expect economics theory rests on? Charity?
It's simple. If people can get enough marks buying their effortfully found GMoPs for more than WB sells them for, they'd be stupid not to sell them for that. And given how often one of those drops, (or rather, doesn't), there's not much incentive to drop the price to hasten a sale, as long as you can be reasonably sure it'll happen within five days.
It's true the convenience argument fails - my bad for not realizing there's a WB button out there (well, not like I use the WB much as everything I tend to deal in can be gotten from AH cheaper) - but then, that's probably what a lot of the derps who buy the stuff there don't realize either.
And with zen packs and exchangeability of zen for AD, it's easy to get enough halfwits who have more AD than sense.
All my argument said is that it's silly to expect some magical influence to force prices to be lower - clearly there is a market for dumb out there. And I stand behind it.
(Of course ,then you have the stupid sort of would be cheat who gloriously overprices items, doesn't get a sale, and ends up wasting a fortune on posting fees)
Well I don't see it as a rip off. If you already using AH and you just happen to say "hey i need some gmops" Why not just get off off the AH as your already using it? But there once was a time where Gmop on AH was cheaper than bazaar too. But with mod6 on our door step, everything that's worth something that can help you with leveling items
is on a come up atm.
Thats my point , it should be CHEAPER on the AH or you are an idiot or rich. you can buy them right from your invrntory screen and they show up in your inventory.
They're charging slightly more, but if they don't the AH fees mean they're losing money.
I never buy the mods off the AH when they cost more than I would spend using the 4th icon from the left (wondrous bazaar), but I can understand why they would charge a little bit more.
I.e. they spent $1 on a bottle of water, but the law requires that they pay taxes when they SELL it, so they sell it for $1.05.
you understand why they would sell something for more than you can buy it from in your INVENTORY screen? Who would you expect to buy it?
I keep feeling like the kid in the mastercard commercial, that wants one more vacay day. e says" That's the stupidest thing I ever heard"
and as I keep reading responses on this subject that's what I keep thinking again and again
Comments
Yes, they'll do that to make a quick few extra AD off of people who dont know any better. You'll see it to a limited extent with greater identify scrolls too.
But sometimes people will put them on the AH for less money too, and you can catch a break. As the people above said, there's some real class acts out there.
This is incredibly silly, although not entirely wrong.
To explain why, let's have a little economy 101 with VAE.
In a free market, prices are driven by supply and demand. Now, the supply of GMoP is two-way. An infinite amount of them is provided by the Wondrous Bazaar at 100k per pop. This on paper limits the bazaar price to 100k since if you exceed it, someone can always get it cheaper from the bazaar (because of unlimited supply I mentioned). Selling for more than that is possible, since there is stupid people and there is people who can't be arsed to walk over to the Bazaar - however, given that the sales tax is 10%, you would need to sell at at least 11111 GP to break even if you were buying the GMoP to sell from the bazaar, and that's a margin far too huge for everyone but complete morons to ignore. Therefore the only viable source for AH GMoPs is finds.
Now, given that GMoP can be found as well as bought from WB, the price will tend towards less than WB price as undercutting WB just about guarantees you'll make a sale, and finding it was technically free (the game doesn't have IC labour costs, unless you go into commercial refinement of enchantments and the like).
Now, when the supply is plentiful there's a powerful motivator towards undercutting competition - not only will a customer have the natural tendency to buy for the least, when you are selling on the AH, the listings which have the lowest price are displayed first, making them the most likely ones to be seen.
However, at present, there is a high demand for all sorts of refinement items, meaning that the AH listings get relatively clean, and you can get away with charging a whole lot more - in some cases, creeping towards listed WB prices.
Plus, I believe a number of exploits was eliminated, closing off the supply of a host of cheap items sold underprice.
So yes - there's nothing preventing the prices climbing up, asides from the rational behaviour of the actors. XP
(If I see someone's character listing GMoPs for more than retail, I lose respect for them as a person, and I do remember names.)
Neverwinter Census 2017
All posts pending disapproval by Cecilia
I don't see anything wrong about profiting from stupidity, especially not in a videogame. That said, it makes me wonder as math tells me that there'd have to be a 2/3 GMoP drop rate from lockboxes at the very least for them to even break even getting AD for zen for keys rinse and repeat. And of course, without that, not much profiteering will happen.
Neverwinter Census 2017
All posts pending disapproval by Cecilia
These are drops being sold, they are 100% profit.
A true idiot might buy one from the WB and then resell it at a loss, but I really doubt there are any of those that could work a mouse.
A long, important looking argument that doesn't support its claims. The very definition of specious.
chrcore was entirely correct ...
There is no economics theory at work here, just predation and ignorance.
[and if I really need to explain, there is absolutely no convenience argument that can be made for the AH, since nobody needs to be "arsed to walk over to the Bazaar" to use it -- just click the Bazaar button in your HUD, no matter where you are, no mailbox required --- and the GMOP prices didn't just rise during the lead up to Mod6 -- they've been at the 100k+ level for many months, probably over a year now]
Well, what did you expect economics theory rests on? Charity?
It's simple. If people can get enough marks buying their effortfully found GMoPs for more than WB sells them for, they'd be stupid not to sell them for that. And given how often one of those drops, (or rather, doesn't), there's not much incentive to drop the price to hasten a sale, as long as you can be reasonably sure it'll happen within five days.
It's true the convenience argument fails - my bad for not realizing there's a WB button out there (well, not like I use the WB much as everything I tend to deal in can be gotten from AH cheaper) - but then, that's probably what a lot of the derps who buy the stuff there don't realize either.
And with zen packs and exchangeability of zen for AD, it's easy to get enough halfwits who have more AD than sense.
All my argument said is that it's silly to expect some magical influence to force prices to be lower - clearly there is a market for dumb out there. And I stand behind it.
(Of course ,then you have the stupid sort of would be cheat who gloriously overprices items, doesn't get a sale, and ends up wasting a fortune on posting fees)
Thats my point , it should be CHEAPER on the AH or you are an idiot or rich. you can buy them right from your invrntory screen and they show up in your inventory.
and that reason would be?
you understand why they would sell something for more than you can buy it from in your INVENTORY screen? Who would you expect to buy it?
I keep feeling like the kid in the mastercard commercial, that wants one more vacay day. e says" That's the stupidest thing I ever heard"
and as I keep reading responses on this subject that's what I keep thinking again and again
Unscrupulous players relying on other players' gullibility/ignorance.
It's the same reason you see a ton of bag of holes for sale on the AH. Jackasses gotta be jackasses, I suppose.
Okay, Panic.
Enorla, Oh so devoted cleric.
*looks at the current economic crisis due to the subprime mortgage bubble burst*
Yeah. Definitely. Sure.