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People are willing to part with tons of gil if it means they don't have to do any research. People pay big gil for time and effort saved. I resell NPC bought cotton bolls and iron ore all day for double what I paid. I make 50k+ every day from this minimum. I simply offer them exactly what they want... the convenience of having all of their goods at an affordable price in one place. If they want access to cheaper cotton bolls and iron ore, they can obtain it the exact same way I do. They just choose not to.
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Yeah... People with a lot of gil can do that as an attempt to control the market and make huge profits.
What the person is trying to do is lower the market on the gear to 10k so they bought it out higher and reposted it. Once people start posting all their gear at the same price or lower the person will buy ALL of them. Then they will repost them all higher where they were to make a huge profit off the bulk transaction.
The best thing to do here is continue selling them at 50k or w/e and ignore the ones listed at 10k If everyone but the person at 10k stays true to their price the person will have to keep buying them at higher prices with this strat and will go broke.
The problem is people fall for it and undercut the guy and they succeed.