Learn to use the History function and stop driving prices into the toilet.

See that little thing marked History?

http://i.imgur.com/bls53Bs.jpg?1

Learn to use it. It shows you what things have been selling for. I bring this up because apparently a vast number of people are unaware it exists, or possibly are just stupid. When something has been consistently selling for 10k+, undercutting that price by 4-5k is dumb. Don't do it. Good god.

This morning I found piety III for 1,010 gil. The next lowest price was 10,011 gil. Someone missed a zero... lucky me.

If you have a problem with it, you can simply buy those items and resell at the historical price you mentioned.

Competition keeps prices down :P
That's fundamental economics. If I want to undercut everyone else to guarantee a sale, I usually do. As to how far I go with it depends how fast I want to be rid of that item.

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Originally Posted by Velox

Competition keeps prices down :P
That's fundamental economics. If I want to undercut everyone else to guarantee a sale, I usually do. As to how far I go with it depends how fast I want to be rid of that item.

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That doesn't stop idiots who drive prices from 1k gil down to 2gil because they don't know how to look at the makret history.

Part of this of course is SE's fault for not making the price history button more noticeable. (first thing about making a feature is you have to assume that everyone is dumb)

Why not just have a button that says Price History instead of a notebook icon ?

its every where, people want THEIR item to sell just to make a quick profit so no matter what a lot of time ppl are dumb (as you said) and undercut by a large amount just to make sure that it will sell

Quote:

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Originally Posted by Velox

Competition keeps prices down :P
That's fundamental economics. If I want to undercut everyone else to guarantee a sale, I usually do. As to how far I go with it depends how fast I want to be rid of that item.

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... no. That's not "fundamental economics". Fundamental economics is keeping the price a) as high as customers are reasonably willing to pay, b) high enough to turn a profit, and c) slightly lower than your competitors, unless you're at the edge of point b, in which case you price match and hope for the best. Fundamental economics is NOT doing fire sales 50% lower than the going price because you're an impatient twit, particularly when the market for whatever you're selling is both active and willing to pay substantially more.

Undercutting is a natural phenom in markets. The point is to sell you item for as low as possible while making a profit. But the problem stems from massive undercutting currently is because:

1.) The game is dishing our crafters and gatherers like halloween candy. Crafting is so easy to level a caveman can get 2 50s in 1 day if you have the leve allowance to do it. This causes an oversaturation in a market that literally has no demand. Why no demand? Because DoM/DoW classes don't need crafting gear they have other cheap ways to obtain gear and in some cases don't even need gear to level. Threfore, without the demand for crafted gear, the demand for gathering items also drop as crafters craft less gear or products.

2.) The second issue is some items are selling below material costs, but for some reason some people think that if they gather the materials then turn them into crafts they're making a profit no matter the costs. So they sell the item below cost.

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Originally Posted by Flarestar

... no. That's not "fundamental economics". Fundamental economics is keeping the price a) as high as customers are reasonably willing to pay, b) high enough to turn a profit, and c) slightly lower than your competitors, unless you're at the edge of point b, in which case you price match and hope for the best. Fundamental economics is NOT doing fire sales 50% lower than the going price because you're an impatient twit, particularly when the market for whatever you're selling is both active and willing to pay substantially more.

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The reason why you see this as I stated below is because there are some crafters out there who farm materials and craft the materials into an item and sell the item for the lowest price which usually falls below material costs. For some reaosn they tend to think they're making huge profits that way.

I do this for quest HQ items. Morons overprice something? I'm going to undercut you. That food doesn't cost 10k you morons. Stop exploiting your fellow crafters.

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Originally Posted by Arale

I do this for quest HQ items. Morons overprice something? I'm going to undercut you. That food doesn't cost 10k you morons. Stop exploiting your fellow crafters.

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The food does cost 10k when the rags you make cost 100k