Weaponsmith Archive
Thread: Cost forumlas?
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PhoNyx
Thu Sep 16, 2004 2:16 am
#1
Is there a cost forumla that everyone uses? or do we all just make up or own prices as we go along?? I've been using one that I got from a friend but I wanted to ask my fellow Weaponsmith if there is one we use or what
please let me know!
thanks!
sabacc1000
Thu Sep 16, 2004 7:00 am
#2
Some people like to use formulas, at least to start out, but in my opinion, they all seem to be far too artificial for my liking. The best advice I could give you on pricing is make an educated guess, then see what happens. Travel around to some other smiths in the area of your shop, who sell approximately the same caliber wares. Use those prices to approximate a set of starting prices for yourself. Then wait and see how stuff sells. If it sells at a pace you'recomfortable with, congratulations; If faster, raise your prices some; If slower, lower them.
In the long run, I believe this method will give you a rate of business that you're most comfortable with. An arbitrary pricing scheme will likely leave you restocking the most popular items daily, and taking a loss on expensive items, while the less popular items fester on your vendor. Also, having a fluid pricing scheme will allow you to control how much daily effort you have to put into your business. For example, raising prices slightly above the norm will likely slow your sales (especially in a heavily populated area). While this means less money coming in, it also means that you can spend more of your in-game time doing other things, won't be pressured to be online every day, and may even foster a reputation for reliability (i.e. "His stuff is a little more expensive, but it's always in stock.")
Whatever you choose, it's most important that you find a rate and style of sales that fits you, or else it's going to become a burden. Adjusting prices appropriatelyis an easy way to do this.
Good luck.
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