Price Wars / Impatient Sellers

[HotRoxy]

Am I the only one getting annoyed with the latest trend of taking a 5-10K (on a good day) hit on what I could get for an item thanks to those who are too impatient to wait for the prime price of things?

I notice it most in WC pieces. Right now I have 2 Faerieland 3.16 pieces to sell, and their going price *should* be about 50K+, Instead, I'm probably going to have to wait for weeks to sell at 48K because three other people are underpricing at around 28-35K.

According to the SSW for this particular product:
User 1: Quantity: 2 Price: 28,500
User 2: Quantity: 1 Price: 32,000
User 3: Quantity: 1 Price: 35,000
Me: Quantity: 2 Price: 50,500
User 5: Quantity: 1 Price: 51,000
User 6: Quantity: 1 Price: 53,333
User 7: Quantity: 1 Price: 54,000
User 8: Quantity: 2 Price: 59,000
User 9: Quantity: 1 Price: 59,995
User 10: Quantity: 1 Price: 74,975

Now if those are the 10 "best" prices for that particular item, I'm a bit confused. As it stands I'm going to have to wait forever for the super malls to buy up those cheaper pieces so I can get what I'm settling for. It's also puzzling to see that there is 40K+ spread between the cheapest and most expensive. So, being that the piece is fairly rare to sell off, wouldn't everyone want to hold out for the 74K instead of just getting rid of them for 28K? Is impatience killing the neoconomy?

What's annoying is that I could go and buy all those pieces right now and put them up for 74K, and that wouldn't solve the problem, and I'd probably get in trouble for it for "driving up the price;" what about those who drive down the prices?? I may be all for a good snipe from time to time (*looks at codestones in SDB*), but there is a difference between a misprice and trying to drive the price down.

Are there any other items that this happens too? Voice your gripe here.

[DragonDoodies]

Quit griping about it and learn how to take advantage of the economy swings-- that's how the best players get richer. If you believe that strongly that your price is the right one, then buy the cheaper 3 and reprice them and then YOU be the patient one.

I have a shop full of books which I only price at the top end of what I think they're worth--- meaning I maximize my profit by waiting for the economy to swing up.

[ahoteinrun]

Generally i'd buy an item if it was being undersold (and if I cared enough to do so) and just sell it at the price my other items are selling at for 'profit' not because i'm trying to drive the price of an item up. Item price driving to me would be if you were trying to make ridiculous amounts of money on things. Unfortunately however i'm also the type of person who will undersell items to make a quicker profit.

[Erin]

You wouldn't get in trouble. It's only against the rules if you get a group of people to help you create false inflation.

And I think that sort of market is valid when it comes to hts items. You don't see people undercutting each other like that for codestones or bottled faeries, items that are in consistently high demand.

[HotRoxy]

Sure I'm griping, and yes, I could buy up all the other pieces and be patient; that's not what I'm getting at. A quicker profit can drive the profit down for many people, not just me. It just seems annoying. There is always someone that is willing to take a few NP hit to sell faster, but a 40K spread just seems a bit .. large.

Editing to add: HTS vs. ETS is a factor, too. I've been playing for two years, of course I would realize the risk in buying up those other pieces (which would ultimately wind up being counterproductive) which is why I haven't done it. It's just frustrating to stay competitive in this current market.

Last edited by HotRoxy on Thu Apr 19, 2007 8:00 pm, edited 1 time in total.

[ahoteinrun]

Quit griping about it and learn how to take advantage of the economy swings

Telling someone to "quit griping" is rather rude and inflamatory, please realise that PPT exists as a place where one can freely gripe about things. Telling someone that they should stop doing so is not fair nor very nice.

3. Flaming and insults are not permitted -- while this is covered in the global forum rules, it bears repeating. This also includes anyone who could conceivably become a member of these forums.

Please keep this in mind when continuing to post on the forums.

[neobeth]

I dont see anything wrong with buying up the three lower priced items, thats what I would do.

[Morningstar]

Quit griping about it and learn how to take advantage of the economy swings-- that's how the best players get richer. If you believe that strongly that your price is the right one, then buy the cheaper 3 and reprice them and then YOU be the patient one.

I agree. That's how I make my neopoints.

EDIT: Oops, Inrun, didn't see your comment. When I said I agreed, it didn't mean to tell anyone to stop griping. I meant that I agreed with taking advantage of swings in the economy. After all, I, at times, can gripe better probably than anyone else here. As my past posts often prove.

Last edited by Morningstar on Thu Apr 19, 2007 8:55 pm, edited 2 times in total.

[Twinkle]

Don't forget, there are non-premium members who can't use the SSW. If you priced yours at the usual price, they'd soon get bought. And there's nothing wrong with grabbing the cheaper items and selling them at a higher price. It's how the game is meant to work.

[anjuna]

Perhaps people aren't willing to buy a WC piece for 50k? Seems a bit steep. Kreludor pieces go for only 10k-15k each and I never complain.

[Siouxper]

Yep, and I am more of an impatient seller. I at first had my WC lowest on the SW, but then all of a sudden, I look it up again, and now the lowest one is 3k cheaper than mine! I am quite annoyed at this loss of profit, and there are hundreds lower than me, so it would take a long time to sell. But that's how it works, and I won't complain anymore.

[WolfMaiden]

Quit griping about it and learn how to take advantage of the economy swings-- that's how the best players get richer. If you believe that strongly that your price is the right one, then buy the cheaper 3 and reprice them and then YOU be the patient one.

I agree. That's how I make my neopoints.

Thats what I do to. I'll buy the cheapest priced items, and then sell at at a higher price. Someone once said, that the way to make your points, is to buy low and sell high

Basically if Spooky shakes sell for 250nps and someone is selling them for 100nps buy the cheaper ones, and for everyone that sells thats 150np profit on each of the extra Spooky shakes you bought

[Morningstar]

Quit griping about it and learn how to take advantage of the economy swings-- that's how the best players get richer. If you believe that strongly that your price is the right one, then buy the cheaper 3 and reprice them and then YOU be the patient one.

I agree. That's how I make my neopoints.

Thats what I do to. I'll buy the cheapest priced items, and then sell at at a higher price. Someone once said, that the way to make your points, is to buy low and sell high

Basically if Spooky shakes sell for 250nps and someone is selling them for 100nps buy the cheaper ones, and for everyone that sells thats 150np profit on each of the extra Spooky shakes you bought

Sometimes it is risky to do what WolfMaiden and I do, but if you are familiar with the market, have the nps to spare, and are a bit of a risk-taker, it can be quite profitable.

[HotRoxy]

And in a perfect market, it would be easy to buy the lowest priced WC pieces, the problem is that another is going to come in and cut the price sometimes in half, making it quite a long process. There are several other items that I use to restock and make a killing, but this is just one area that doesn't seem to be stable.

As for 50K being steep, hee. There are two faerieland pieces that will go that high.

[bgryph]

If the items sell well at a higher price, it won't be an issue. If the items don't sell well at the higher price, then the lower price isn't really underpricing... an item is only worth what people will pay for it.

At least that's how I see it. I don't RS on Neo because it's so competitive, but I RS on Subeta all the time... and if you think this sort of thing is a problem on Neo, you should try Subeta. Talk about a yo-yo economy. But I've discovered that if I have a solid idea of what the items are "really" worth, I can just leave them at that price and in a few days or a few weeks... the price will be back up again.

Unless someone somehow floods the market with items above the normal rate, the items will return to their "true" value in terms of supply and demand sooner or later.