Business And Economy Archive
Thread: what happened to the Supply and Demand concept?
That seems to follow the laws of supply and demand exactly. He offered a high price for something that wasn't worth it, received a low offer, then countered. Either the person was satisfied and payed the middle price or they didn't buy it.
Setting an arbitrary price like $100,000k per point is not free market.
Kharast wrote:
i'm new to loot buying and selling and am trying to learn the ropes of it all. i finally have some cash to spend on tapes and have come across loot to sell. but what i dont understand is how the community has lost the basic concept of an economy: Supply and Demand.
as any of us should know, if demand goes up, price goes up. if demand is down, price goes down. itsreversed w/ supply; if supply is up, price goes down. if supply is down, price goes up. (think gas stations. demand is very high and they take us all for the suckers we are)
a +25 Ranged Accuracy is rare and highly sought after so the price naturally should be very very high. but i recently saw someone auctioning a +3 Pistol Accuracy for 1 mill. he got one response to his offer, a counter bid at 300k, but refused it. instead he countered himself at 500k. yes i understand bartering, but isnt this a little high forlow value tape that will only effect one weapon type?
my observations have been fair market value for items is 100k per point affecting a general stat like melee defense (its usuable by anyone) and 50-75k per point for a specific mod (its usable by fewer).
would this be a fair assessment of value?
Answered your own question.
Supply and Demand ... working as designed.
yes i understand bartering, but isnt this a little high forlow value tape that will only effect one weapon type
Just because YOU think it has low value does not mean that other think this. That is why supply and demand work. Additionally just because it only works for one weapon type...what if that is the only weapon type I have, in that case it is a valuableitem. A +25 crafting tape would be worth ZERO credits to this person.
As pointed out earlier, this seems a clasic supply and demand scenario.
I wouldn't give ya 10k for a +3 to pistol accuracy myself, but hey, is someone else will sell it.
I personally think it's insane what some people pay for some things, but then, that's just because I don't want those things as badly as other people do.. 
Filodude wrote:
there is no set price list to go by in this game. just like real life if you think you got a deal you did.
consumer advocates will go around yelling that people are getting ripped off if you pay to much or offer to little for what "they " think is fair. who is the guy next to me think he is telling me i got ripped off if i was happy with the transaction?
see it is like real life the thrifty will shop around and find the best deals.
Mate,
You hit the nail right on the head there, A+ for you, goto the front of the class...
I came back from a 6 month break and had my veteran rewards on me, I sold the "Anti-Decay Kit" (or whatever it is called).
Got a tell from some guy ofering me 8 mil for it, I was like SCHWEEEEET so i took it, now I pretty much knew that some people will pay more for it than that, but I thought my price was a rip off. Anyways, I sold it on my vendor to him and I got a tell afterwards saying "Haha dumass, I have a buyer for your ADK for 15 mil"...I sent him congrats and /addignore'd his ass (prolly a 12 year old or something) and went about my business.
My point is, if you are happy selling at a price and the customer is happy buying there then that is a win-win. 8 Mil for something I was GIVEN is insane, but some things are more important to some people than to others...
Kharast wrote:
i'm new to loot buying and selling and am trying to learn the ropes of it all. i finally have some cash to spend on tapes and have come across loot to sell. but what i dont understand is how the community has lost the basic concept of an economy: Supply and Demand.
as any of us should know, if demand goes up, price goes up. if demand is down, price goes down. itsreversed w/ supply; if supply is up, price goes down. if supply is down, price goes up. (think gas stations. demand is very high and they take us all for the suckers we are)
a +25 Ranged Accuracy is rare and highly sought after so the price naturally should be very very high. but i recently saw someone auctioning a +3 Pistol Accuracy for 1 mill. he got one response to his offer, a counter bid at 300k, but refused it. instead he countered himself at 500k. yes i understand bartering, but isnt this a little high forlow value tape that will only effect one weapon type?
my observations have been fair market value for items is 100k per point affecting a general stat like melee defense (its usuable by anyone) and 50-75k per point for a specific mod (its usable by fewer).
would this be a fair assessment of value?
Well, also something to know is the history of the game. I understand youre new, and wouldnt know this, but item prices were jacked way up a while back because there was a whole lot of money in circulation. Basically, someone hunting on Dantooine coul dmake anywhere between 1mil to 2mil credits in an hours time. Just one hour. Imagine doing that fro 8 hours a day, 6 days a week, for three months. Thats a lot of money. I think the biggest culprit as to why there is a lt of money is simply this. There are people with more money than they know what to do with, and there are people who are struggling to get there. The people who have lots of cash, basically, they dotn worry about how much something costs. They make money at a standard rate, and spend it at a standard rate. They have so much in excess, they have nothing to worry about. Therefore, their value of the credit is worth less.
Someone just starting out, its not incredibly dfficult to make money, but then again, you arent making money on the scale the past has allowed either. At best, you break even. You dont ever really get ahead, but you dont ever really get behind either.
So, to make a long story short. There is the possibility that some players are knew, and have no idea to the value of the money they want or need. But then again, there is also those people who have so much, their value is cheapened just by circumstance, therefore raising their prices. Still, Id like to think the people who run good businesses are fair marketers. Still, there is a lot of greed. And if someone has the opportunity to rip someone off, you can bet everytime they will, and probably win the bet more than youd lose.
It can get fustrating, but try to remember that people tend to think everything is overpriced when buying, and margins are being lowballed out of existance when selling. I do it, so do you.