Auction House, Have you lost a huge profit?

So I've noticed that lately in Limsa on the good 'ol Ragnarok server an RMT that I've reported numerous times. After B-Listing him due to 6 tells in a row to me I went to my retainer to (hopefully) refill the cash I carry for repairs by selling dungeon gear, leaving the rest to build, I see I only have 340k. Baffled because all weekend I was making about 50k every 2 hours and I was giving some away to FC mates who were on need so I knew I was shorter than before but the gear I posted never sold. Insane I thought because i was the lowest guy and the gear isn't cheap. Turns out the RMT bought all our chest, head, and feet pieces and reposted them for 10k, about 20 of them each. The guy who was selling above me happened to be there and we chatted for a while, no solutions was found because if we bought them all back we'd have a big risk of losing a huge profit. I get underselling someone to make a quick buck in situations, but this PLUS and RMT? What do guys..what do.

Sorry for bad grammar, I'm on my phone :p

how do you know the retainer belongs to a RMT and not someone playing with the markets?

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Originally Posted by Yoohre_WildRiver

how do you know the retainer belongs to a RMT and not someone playing with the markets?

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The retainer has the same name as the site he's spamming. Ignore my last post I misread if you seen my first reply here for your reply (inception)

No to mention if they attack the AH (like some did in FFXI) and they don't handle this, its going to ruin the economy. Ragnarok's economy has been booming at a stable rate with is awesome. But if they start attacking the AH HOW AM I SUPPOSED TO LIVE AND FEED MY FAMILY?? lol kidding of course but seriously, I get these are/can be hacked accounts and I hope they get them back but I hope something be done before the economy take a nose dive. If its not fixed it'll be like XI and the 500k extremely rare items will sell for 100gil and then everyone has awesome gear without having to have worked for it.

I've personally purchased underpriced items to resell for profits. I've bought entire stacks of very expensive things for this purpose many times before. Sorry.. this is going to happen regardless of RMT.

i understand, what i mean is how do you link the retainer with the RMT account? and how can you be sure its not another player who buys your gear and its monopolizing the market? a player with a lot of gil can do this.
lets say there are x20 hats for 4k each, if i got the money i can buy them all and resell them for 20k, making 20k hats the only option. you dont have to be a RMT to do this, its just Market hussle.

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Originally Posted by Yoohre_WildRiver

i understand, what i mean is how do you link the retainer with the RMT account? and how can you be sure its not another player who buys your gear and its monopolizing the market? a player with a lot of gil can do this.
lets say there are x20 hats for 4k each, if i got the money i can buy them all and resell them for 20k, making 20k hats the only option. you dont have to be a RMT to do this, its just Market hussle.

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I fixed my reply. I actually.misread yours, the Retainers name.is the same as the Gil site he's spamming. That's how I link them. I don't think a regular serious player would even joke with that out of potential of being suspended/banned. I don't care about regular people its just the RMTs that drive me nuts. The AH was the one place I thought I could escape them hah.

ok yeah then report it into oblivion!! muahahaha

You can't create artificial demand. If you sell above market value, you will lose profit in the long run. It's impossible to monopolize a market because anyone can come in and compete at any time and drive the price back down to normal prices. If you buy all of those 4k hats and resell them for 20k each, maybe you'll sell one or two but someone else is going to come in and make more and sell them for less until it's back at market value.

Unless SE gives a specific individual the exclusive permission to sell a good on the market, it's literally impossible to monopolize anything. It's a free system.

Here's a video covering the economic fallacies behind this idea:

http://www.youtube.com/watch?v=eO8ZU7TeKPw

Bottom line is when people play the market, they either fail and lose gil, or they succeed and they only succeed by repricing in such a fashion to better allocate the resources/items in the market.

When you don't understand simple economics, and you frame every little personal dilema as a huge economic issue for everyone, you only demonstrate that you have no business talking about such things.

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Originally Posted by KyteStones

I don't think a regular serious player would even joke with that out of potential of being suspended/banned. I don't care about regular people its just the RMTs that drive me nuts. The AH was the one place I thought I could escape them hah.

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Joke about it? That's just legitimate business to be honest... If you list something at a significantly lower price than what people have been paying for it, someone can (and should) come along and buy up your gear and relist it at the proper price. This happens in just about every game with an AH, it's lack of knowledge by the player base. A good example is I was selling a certain HQ consumable item on the market regularly for between 1.5k and 2k each. Someone came a long and posted a large number of those same HQ items for 500 gil. Instead of lowering all my prices, I just bought out the items that he listed and continued to sell at triple->quadruple the profit.

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.

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.