Market has crashed

With the players with money being removed and the bots still going strong the prices on everything has cut in half or more on most items.

Now our vision of a lot of gil might have been warped due to the gil sellers. What is a lot of gil now? 200k? 500k 4-10mil? Not to sure what SE goal or expectations are of the economy.

So how bad is it getting on your servers and what do you feel is a lot of gil.

You will never hear me complain about lower prices on the market. As it stands I can actually buy stuff now. Bots, RMT etc. are a terrible thing, but the prices some crafters, and other people, were selling items for on the market were ridiculous.

Please sell Fleece for like 100 gil a piece instead of 700 gil? That'd make my day. :)

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Originally Posted by PsychologyPhD

You will never hear me complain about lower prices on the market. As it stands I can actually buy stuff now. Bots, RMT etc. are a terrible thing, but the prices some crafters, and other people, were selling items for on the market were ridiculous.

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Reason crafters can do that is either they have control of the market, or people are buying the stuff at the price they set. There are some rather silly things out there that are good gil sources just because people are lazy or don't have connections with the crafters. Lots of crafters I know do things much cheaper for people they know, sometimes even free depending on the synth.

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Originally Posted by PsychologyPhD

You will never hear me complain about lower prices on the market. As it stands I can actually buy stuff now. Bots, RMT etc. are a terrible thing, but the prices some crafters, and other people, were selling items for on the market were ridiculous.

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Its understandable and I agree but when most mats cost 50-200gil when you finally get to max lvl crafting what is the point ? Spend 10 min to make a item worth 500 gil. Like I said what's the normal amount of gil players are meant to have. Is everything just balancing out ?

Due to issues with bots we are all buying bot items and feeding rmt.and that gil will never come back to the players. Its a horrible cycle. But now it seems to be making everything so cheap that 10k will soon be a lot of gil IMO.

Funny thing I noticed on my server, it seems to have a too high supply and too high a demand problem at the same time (This really should not be possible...).

Far too many people quickly posting stacks of 99 of everything at low prices. At the same time, people are quickly buying up the single items that are listed at exceedingly high prices.

Anyone else seeing this?

All i can say is "Good", the lower prices is what things should of been originally before RMT gil flooded the markets and royaly screws anyone not buying gil or playing the market for most their game etc etc, if you end at level 50 with 250k and gain money really slowly from fates and leves...then why the hell should there be items selling for 500-1mil, then theres the 2 items you need to slot into your crafted weapon to progress with your relic that boosted up to around 40-50k because of all of this rmt generated gil that these people were prepared to buy with their ill gotten money.

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Originally Posted by Codek

Funny thing I noticed on my server, it seems to have a too high supply and too high a demand problem at the same time (This really should not be possible...).

Far too many people quickly posting stacks of 99 of everything at low prices. At the same time, people are quickly buying up the single items that are listed at exceedingly high prices.

Anyone else seeing this?

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Yea. I do this so I don't buy items from bots .

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Originally Posted by Codek

Funny thing I noticed on my server, it seems to have a too high supply and too high a demand problem at the same time (This really should not be possible...).

Far too many people quickly posting stacks of 99 of everything at low prices. At the same time, people are quickly buying up the single items that are listed at exceedingly high prices.

Anyone else seeing this?

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This is happening because outside of a handful of items, most don't need 99 of whatever very often while the smaller numbers are much more common, and lots of sellers do not realize this. So its either buy 99 of an item at a cost of say 50 per(total 4950 pre-tax), or 5 of an item at 200 per(total 1000 pre-tax), or 1 at 400. Which would you buy if only needed one?

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Originally Posted by Codek

Funny thing I noticed on my server, it seems to have a too high supply and too high a demand problem at the same time (This really should not be possible...).

Far too many people quickly posting stacks of 99 of everything at low prices. At the same time, people are quickly buying up the single items that are listed at exceedingly high prices.

Anyone else seeing this?

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Why buying a full stack if you need only a handfull?
If I only need 1 or 10 and it is not too much more expensive than the full stack, I would buy the 1 or 10 instead the cheaper 99 stack.

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Originally Posted by Hawklaser

This is happening because outside of a handful of items, most don't need 99 of whatever very often while the smaller numbers are much more common, and lots of sellers do not realize this. So its either buy 99 of an item at a cost of say 50 per(total 4950 pre-tax), or 5 of an item at 200 per(total 1000 pre-tax), or 1 at 400. Which would you buy if only needed one?

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The 5 and resell the 4 leftovers as single items.

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Originally Posted by Hawklaser

This is happening because outside of a handful of items, most don't need 99 of whatever very often while the smaller numbers are much more common, and lots of sellers do not realize this. So its either buy 99 of an item at a cost of say 50 per(total 4950 pre-tax), or 5 of an item at 200 per(total 1000 pre-tax), or 1 at 400. Which would you buy if only needed one?

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I'm just surprised more people aren't playing the market by simply buying a stack of 99 and posting 20 stacks of 5 at 5x the cost. Sure, it takes up most of your retainers selling power but from what I've seen, the turnover rate is less then a day and the gain is 400% profit.

I would have imagined that that kind of motivation would balance out the market at some point.

Too high can be different for different ppl. There is no set price tgats why its a FREE market. Plus if it cost me 300k to make a vanya robe you count on me selling it for 500k to turn a profit. Its like ppl think legit player shouldn't have millions are something or everything should cost under 50k.

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Originally Posted by Codek

I'm just surprised more people aren't playing the market by simply buying a stack of 99 and posting 20 stacks of 5 at 5x the cost. Sure, it takes up most of your retainers buying power but from what I've seen, the turnover rate is less then a day and the gain is 400% profit.

I would have imagined that that kind of motivation would balance out the market at some point.

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Problem with doing that is some markets people massively undercut frequently to the point of making it too much of a risk to do so. I have seen some items drop over 50% in price over the course of a day. So until one knows the trends of a market that can backfire easily.

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Originally Posted by Crashar

All i can say is "Good", the lower prices is what things should of been originally before RMT gil flooded the markets and royaly screws anyone not buying gil or playing the market for most their game etc etc, if you end at level 50 with 250k and gain money really slowly from fates and leves...then why the hell should there be items selling for 500-1mil, then theres the 2 items you need to slot into your crafted weapon to progress with your relic that boosted up to around 40-50k because of all of this rmt generated gil that these people were prepared to buy with their ill gotten money.

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All I can say is someone need to go google supply vs demand and learn some basic economic principles.

I'll gladly craft those ilvl 70 gears for you for 100k, as soon as you sell me those potash and coke for 3k each.

The shards/crystals to produce products are more costly then the end synth most of the time.

Well at least your server dont have ilvl.70 crafted accessories going for well over 2 mil...shyts ridiculous.

ATTENTION!:

There is less money in circulation, things are cheaper!

THE SKY IS FALLING! THE END IS NEAR! ABANDON SHIP!

Sounds like things are balancing out to me....

Sadly I saw this one coming a Mile away, one of the reasons I stuck with my 1.0 Char on a Legacy Server as the Economy will be more stable even with a bot and RMT influx. Whereas on a new server, the economy would be a lot more volatile, more so if RMT was aggressive with it and BOOM here we are :(

Everyone go to Legacy Servers ;) lol

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Originally Posted by Ericyu

Well at least your server dont have ilvl.70 crafted accessories going for well over 2 mil...shyts ridiculous.

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yes, because obviously those crafters are just being greedy when they dare to sell those accessories for 2 mil when their base materials costed them 1.5~1.8 mil. They totally should have sold them to you for 10k, it is after all their sacred duty to spend their time and gil to make sure you are supplied with gear at below cost.

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Originally Posted by Aenarion

All I can say is someone need to go google supply vs demand and learn some basic economic principles.

I'll gladly craft those ilvl 70 gears for you for 100k, as soon as you sell me those potash and coke for 3k each.

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They have been going down since more people are leveling to 50 and the RMT clean up.

Well there's diminishing returns. As people hit 50, their total amount of money reduces dramatically as they continue through end game progression.
So a lot of factors are at work here. The major one for me is there's no real way to generate income.

Of course it was going to crash. Nobody listened to us when we told you that there were no ways to generate the amount of gil you get as leveling once you reach 50. The early market players established their prices at levels that assumed everyone would be getting 200k-300k every week or so. When that never happened, you told us to play the market, ignoring that it's deflationary in nature.

Now there is too high a supply on easily gained items, too high a price on hard to create items. This is the market you wanted to create.

I shake my head in disbelief every day when it comes to the market, I mean even now i'm still seeing lvl 25-30 mats on sale for the npc hand in price. FFS if you're gonna give the ish away at that price just SELL IT TO AN NPC. Muppets.

The removal of gil and reduction of prices to reasonable levels is a good thing :D

Things are cheap, because everyone and their brother leveled one or more crafting professions, and the market is flooded.

The gil that was removed was players gil. It didn't get made by the rmt . Rmt farmed items players needed than players used there gil to buy said items. So the money removed was not "fake" or bad but was used for the wrong purposes (rmt).

There is only so many ways to make gil and when SE took out all that gil it was actually players gil that was made the right way. This scam is so messed up that everyone is involved unknowingly. If you ever buy from the market your helping rmt since they have so many items cornered.

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Originally Posted by silverhope

The gil that was removed was players gil. It didn't get made by the rmt . Rmt farmed items players needed than players used there gil to buy said items. So the money removed was not "fake" or bad but was used for the wrong purposes (rmt).

There is only so many ways to make gil and when SE took out all that gil it was actually players gil that was made the right way. This scam is so messed up that everyone is involved unknowingly. If you ever buy from the market your helping rmt since they have so many items cornered.

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Won't comment on the situation as a whole. However, I vaguely remember reading about a possible dupe cheat/hack with Allagan pieces. If this is true, then some gil was not created legitimately. Gil created from a cheat or hack could be considered "fake".

Yea if that's the case than ofc than I'm glad SE took it out. But I hope they made sure to handle it different with regular gil.

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Originally Posted by silverhope

Yea if that's the case than ofc than I'm glad SE took it out. But I hope they made sure to handle it different with regular gil.

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There was also the duping by bomb powders from the event. They traded them with a bot to the npc for cracklers and then sold those to the npc. They did this at bot speed so yeah, that gil wasn't created by players either. Duped gil was removed and there was much rejoicing.

Did someone seriously think the prices from the first month were going to stay?

Ah, right... This is OF.

Prices will adjust based on the relative wealth of the server community. It's only when a lot of money is injected into the economy at once (RMT) is when prices will spike for things.

When I started with my 1.0 character, my little over 1 mil had been bumped down to a little over 100k. over the course of the main scenario, that went up to a little over 300k, then as I started grinding CM runs and hadn't learned my lesson about TPing yet, that dwindled back down to just under 200k until I started farming cheap mats like Elm Logs and grade 1 carbonized matter. I'd simply put those up for at least 20 gil less per item than the cheapest stack, and they'd sell quick. The time per stack is negligible at that point, and even with the minor repairs for my Btn gear AND my Whm gear repairs (some now darklight) from my CM grinding on top of that, I'm still making a profit and close to hitting 300k again.

I imagine it's just leveling out. When I started, elm logs were selling for 150g normal quality at the cheapest. ever since I went to town on those trees, it drops down below 100 gil more often (though I notice some are still fighting to bring it back up over 100).