Getting Over on ppl in Markets?/Goodluck!

[CatholicFan]

The thing of it is, with an investment of time, you can undercut down to just 1 gil and still "profit" because there are no third-party supply chain requirements for this game. You can literally supply every part of an item yourself from the mats to the crystals, and there is an unlimited supply of everything. So, the only value an item has is what sellers choose to list it for and what the market will bear in terms of speed.

A popular item I sell on the market generally goes for about 5-6k. Undercutting made it a rather unprofitable item, and so the market dried up for a day. I "reset" the price by listing the item at 12k. A few people came on and undercut me by a few gil, but the item generally sold. Thing of it is, the sell rate was probably half of what it was. So, twice the price but half the speed means my "profit" is the same. Because of the volatility of the market and the constant undercutting by larger-than-necessary amounts, the price quickly dropped back to the 5-6k average. It's too bad, as I was curious to see if the speed would pick up with enough sales to establish a longer history at the higher price, but odds are that's unlikely to happen given the way this game's economy functions.

Frankly, I don't see it changing for the better any time soon.

[HunkyJimpjorps]

Frankly, I don't see it changing for the better any time soon.

What do you mean, "changing for the better"? In terms of that item, the equilibrium price is clearly 6,000, as demonstrated by your attempt to double the price. A single supplier doesn't get to set the price for the rest of the server.

Raw material supply isn't unlimited and free. That's only true if you're ignoring the sunk cost of gathering and farming.

[baopee]

buyers want it low, sellers want it high. whoever sells it low, it would get sold. I totally understand where you guys are coming from, I started lvling my GSM, most of accessories I have made so far, the market value of it is less than the material cost. Do I want to sell it that low? No, but do I have choice? No....

[Demen]

Fail troll is fail. On a side note, his life sounds AWESOME

[gadzi_h]

The thing of it is, with an investment of time, you can undercut down to just 1 gil and still "profit" because there are no third-party supply chain requirements for this game...

A popular item I sell on the market generally goes for about 5-6k. Undercutting made it a rather unprofitable item, and so the market dried up for a day. I "reset" the price by listing the item at 12k...

Frankly, I don't see it changing for the better any time soon.

even selling at that 1 gil profit your saying that your time is worthless. You could grind a few mobs in Eorzea to get a drop of 1 gil.

I love that your working to reset the market price on some items. Right now I am trying gathering as a means to make money. The problem is unless I stay ahead of other levelers the market gets flooded. Now when I see items selling for 2 gil a piece when NPC turn in is 1 gil i just keep the item. I'll craft them out of inventory. But you are right we are not going to see improvement unless the mechanics of the economy are changed drastically. It's a totally open market and if everyone can participate anything can happen.