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Over-Priced GTN Items


Andryah's Avatar


Andryah
12.19.2013 , 04:30 PM | #41
Quote: Originally Posted by ELRunninW View Post
I remember seeing recently a thread about undercutting the prices on GTN, go figure.
Heh.. yeah... undercutting is how I make most of my profits from my personal income generating mini-game on the GTN. I love it when a new pack releases. People gobble them up in the hopes of getting some craved item.. and unload a lot of the other stuff at super silly low prices. I made ~ 4million just buying/holding/reselling Relnex Robes over the last several months. I bought them all for under 10K credits (many for less then 5K) and have resold them all at between 50-90K credits. I had so many of these in storage at one point it made even me shriek.

I have two alts with fully unlocked cargos that do nothing but buy low priced items and hold them for later resale. When I resell.. I resell at a hefty profit (courtesy of the low ball early pricing) but I also always undercut the market by at least 10%...even if my competition at the moment is listing a very limited supply at absurd premiums to what I know to be the recent market prices. And I almost always win in this mini-game because I have a knack for knowing what will be desired later on and is underpriced in the present.
Forum disputatio ------> est completum ineptias.

ikinai's Avatar


ikinai
12.19.2013 , 04:34 PM | #42
Quote: Originally Posted by Andryah View Post
Heh.. yeah... undercutting is how I make most of my profits from my personal income generating mini-game on the GTN. I love it when a new pack releases. People gobble them up in the hopes of getting some craved item.. and unload a lot of the other stuff at super silly low prices. I made ~ 4million just buying/holding/reselling Relnex Robes over the last several months. I bought them all for under 10K credits (many for less then 5K) and have resold them all at between 50-90K credits. I had so many of these in storage at one point it made even me shriek.

I have two alts with fully unlocked cargos that do nothing but buy low priced items and hold them for later resale. When I resell.. I resell at a hefty profit (courtesy of the low ball early pricing) but I also always undercut the market by at least 10%...even if my competition at the moment is listing a very limited supply at absurd premiums to what I know to be the recent market prices. And I almost always win in this mini-game because I have a knack for knowing what will be desired later on and is underpriced in the present.
I got the entire sensuous outfit for under 500k, sold one of the chest pieces last night for 850k, still have one more to sell. Already made 350k profit from just that one purchase, plus I now have the outfit unlocked for all my characters. Thanks GTN
I'll tell you what, then. Why don't you call me some time when you have no class?
--Rodney Dangerfield Back to School

MillionsKNives's Avatar


MillionsKNives
12.19.2013 , 04:35 PM | #43
Quote: Originally Posted by mecher View Post
LOL, because the game doesn't have a free market at all.

The only game that comes close to having a free market is EVE Online. Is this EVE Online, no. Get a clue.
free market noun
: an economic market or system in which prices are based on competition among private businesses and not controlled by a government

I missed the part where BioWare started setting prices for us. Those bastards.

Andryah's Avatar


Andryah
12.19.2013 , 04:38 PM | #44
Quote: Originally Posted by mecher View Post
LOL, because the game doesn't have a free market at all.

The only game that comes close to having a free market is EVE Online. Is this EVE Online, no. Get a clue.
Embrace thy own advice IMO.

A market, any market, is in fact "free" in nature if there are no stipulations placed on sell vs buy pricing. Free markets are fluid in nature.. following supply demand dynamics. By the very definition, MMOs with trading between players without price constraints or price fixing IS a free market (in the context of the insides of that MMO, on a particular server).

It would however be correct to say that most of the SWTOR server free market effects are loot driven, rather then raw materials and craft driven like EVE. In EVE the markets are much more complex then in SWTOR... because of the entire supply chain of materials----builders--- sellers ---- buyers integral to the game. Crafting in SWTOR is not as full blown and integral to the economy as it is in EVE. That does not however mean that crafting is not working the free market inside SWTOR GTNs and trade channels though. 31 series mods ------> very much crafters working a free market that is fluid to supply and demand. There is a lot of demand, and the supply side materials are generally expensive.. so prices on current top tier crafted mods do run at the top end of the market. Older mods by contrast, now sell at fractions of what they used to... because of a change in the supply-demand dynamics in the player base.
Forum disputatio ------> est completum ineptias.

Trintric's Avatar


Trintric
12.19.2013 , 04:39 PM | #45
Wow! Another thread complaining about prices. Let's see, so far as I've been keeping track of this is two about prices being too high and one about prices being too low.

I'm really curious and have a question for the people complaining about prices getting too high.

Please do answer ... How many credits do you make, say per planet? Me, I'm strictly a gatherer, selling materials to the crafters. Around 20, if I put the effort in, I typically cake anywhere between 300,000 to 400,000 per planet, per alt. Sometimes a little more ( I love Belsavis )

Also, I'm one of those KRAZZY Larry super discount price slashing sellers who prefer a quick turn-around. And I care not one whit if someone buys my stuff to sell for a higher price, I made my sale at my price and that makes me happy.

And there are a lot of things that I find too expensive to justify spending the price .. I got upgrades to get! For instance, I'd LOVE a throne. I don't care which, but it's just too much. I don't cry about it though, I just grimace a little, spare a quick nasty thought for the seller and his or hers parentage, and move on.

But back to my question ... To those who really complain about price and want some sort of limit put in place ... how much do you make doing whatever it is you do?

Elminster_cs's Avatar


Elminster_cs
12.19.2013 , 04:42 PM | #46
Quote: Originally Posted by Andryah View Post
Heh.. yeah... undercutting is how I make most of my profits from my personal income generating mini-game on the GTN. I love it when a new pack releases. People gobble them up in the hopes of getting some craved item.. and unload a lot of the other stuff at super silly low prices. I made ~ 4million just buying/holding/reselling Relnex Robes over the last several months. I bought them all for under 10K credits (many for less then 5K) and have resold them all at between 50-90K credits. I had so many of these in storage at one point it made even me shriek.

I have two alts with fully unlocked cargos that do nothing but buy low priced items and hold them for later resale. When I resell.. I resell at a hefty profit (courtesy of the low ball early pricing) but I also always undercut the market by at least 10%...even if my competition at the moment is listing a very limited supply at absurd premiums to what I know to be the recent market prices. And I almost always win in this mini-game because I have a knack for knowing what will be desired later on and is underpriced in the present.
I do lot of times the same thing, not with two character, just with one, but I buy at lower price when pack come out and then sell it back at higher price. There are sometimes thing that will never grow in price (such not rare pet and some gear) but if you have a good eye you can make good money, even more than questing.... actually is one of the most risky and profitable thing
Member of Dread Master. The Red Eclipse Italian Guild.

jonpwil's Avatar


jonpwil
12.19.2013 , 04:50 PM | #47
Revan's Belt on sale for 40 million.

Ridiculous price? I agree.

In my mind, due to the rarity , maybe I would actually find a buyer for 10 million.

So I put in on the GTN for 40 million, and leave it there, with no intention of selling it.

You and others come by, see it on the GTN, see the price at 40 million.

"That's crazy."
"No way I'm paying 40 million"
"Bananas, it's not worth 40 million!!!"


The items expires in a couple days, I collect it from my mail, place it on the GTN for the "bargain" price of 25 million.

It sells in less than 30 minutes.

Here endeth the lesson.

Andryah's Avatar


Andryah
12.19.2013 , 04:53 PM | #48
Quote: Originally Posted by jonpwil View Post
Revan's Belt on sale for 40 million.

Ridiculous price? I agree.

In my mind, due to the rarity , maybe I would actually find a buyer for 10 million.

So I put in on the GTN for 40 million, and leave it there, with no intention of selling it.

You and others come by, see it on the GTN, see the price at 40 million.

"That's crazy."
"No way I'm paying 40 million"
"Bananas, it's not worth 40 million!!!"


The items expires in a couple days, I collect it from my mail, place it on the GTN for the "bargain" price of 25 million.

It sells in less that 30 minutes.

Here endeth the lesson.
/thumbs-up

jonpwil clearly knows how to tease out the market price for an extremely rare item on the GTN.
Forum disputatio ------> est completum ineptias.

Rabenschwinge's Avatar


Rabenschwinge
12.19.2013 , 05:15 PM | #49
Quote: Originally Posted by ikinai View Post
Supply meet demand. I think you two will be the bestest of friends.
Hmmm.... it's very doubtful that the demand is actually as high as the price suggests. That happens sometimes in MMOs. Someone gets a funny idea to put a very rare item, that possibly even isn't for sale right now, on the market for an insanely high price, lacking a reference. No one buys the item, but other people who wish to sell the item as well jump on the train and put it in for similar prices. The consequence is that the market is deadlocked for that until the price drop into a region where it meets the actual demand.

I had a similar situation in Champions Online once for an item I wanted. The difference is that you have to pay 5% of the price you charge as offer fee which is not refunded, so it's a bit more painful. In that case it would have been two million down the drain.

That rarely happens in EVE Online where the market has a detailed history and there is only a single one market for the entire game, which causes the throughput to be considerably higher than the individual server & faction markets. The downside of it - there are more people who are indeed filthy rich and items which are indeed rare go for really high prices.
Ah, yes. "Reapers."

fdbgjfdhjgkjdhsg's Avatar


fdbgjfdhjgkjdhsg
12.19.2013 , 06:29 PM | #50
Quote: Originally Posted by Sportiva View Post
I think Obama should institute GTN price controls.
Even though that is a joke, I fullheartdly agree.
Speak softly, and carry a big blaster.