Celtic Heroes

The Official Forum for Celtic Heroes, the 3D MMORPG for iOS Devices

*Price of items debate*

#1
I have people whispering me all day about how high I price my items in auction house. Now these are not heroic gloves, ancient armor, or any items that you can buy from a shop including platinum store. Or get from monster drops. You know these are not items that have a cap on how much they cost because you cant look in a shop to see.

These are items such as Nightmaster Coat, Green Spirit Charms, 2nd Rarest Boggen Charms and so on. Here are how the conversations start.

Buyer: Your Item is priced way to high.
Me: What item?
Buyer: Your Nightmaster Coat is priced at 800k - 900k in auction
Me: The price of items that you cannot buy from any shop in game, platinum store, or get from a monster drop is completely controlled BY THE PLAYER and what THEY are WILLING to SELL that item for.
Buyer: Oh well I been playing scenes 2011 and I have 25 million and I say that the Nightmaster Coat costs 500k max.
Me: And how did you come across that number?
Buyer: Well about 3 months ago I buy that same coat for 500k off some guy.
Me: So let's say that this is the only nightmaster coat on server. How much would it cost to buy it?
Buyer: IDK
Me: Thats right you don't know. The reason you don't know is because the price is UP TO THE SELLER. There is know way to look up the price for that item.
Buyer: Oh well I'm just trying to stop you from causing inflation in the server because we know the real price of your items.
Me: If you want to stop inflation then bring awareness about the people selling 1 combos for 111,111 in auction. The price of combos is controlled by platinum that really will mess up the market.

Then the guy comes up with some reason as to why they have to go. You know when the lose the argument .

The point of this forum post is to show you that the price that the server has "made up in there head" Is NOT a SET PRICE for that item. As long as the item can not be bought from ANY SHOP IN GAME, ANY CHESTS (at the time), or by any MONSTER DROPS.

Don't let some high level come to you and try to tell you how much your items cost and how much you should sell them for. If you put an item in auction day after day and no one is buying at that price then it's up to you to release that and edit your prices accordingly. But the LAST thing you want to do is sell that super rare fashion set for a quarter of the price because some jerk told you a price that was In his head.

Thank you if you read all of this. I would love to get a debate going so please tell all the " self proclaimed top players" on the server to come to forums and leave a comment.

P.S this was from a real conversation

Re: *Price of items debate*

#3
To be honest if you want to sell a noden for 95k and someone buys it then whats problem. I say nothing. You set your prices if they dont like it they can move on. But if theybsaybwould you take 92k and you say yes, it doesnt mean every sale will be that price. Consider yourself a store. Set the prices you desire. Specially for fashion gear. Never sellnit too short. People will always try and get it for nect to nothing then turn around and sell it for what you wanted

Re: *Price of items debate*

#4
Your argument for high prices is that prices are set by the seller. That claim is false.

The price level is set by what buyers are willing to pay for the item. This can be influenced by the seller, through monopolies on goods (as you stated in your argument), but it is important to note that demand curves on classical markets (such as CH's) do not approach infinity as supply approaches 0.

In other words, if you have the only nightmaster coat on Taranis, you very most likely will not be able to sell it at whatever higher-than-market price you wish.

It is true, that the sale prices of items at a given supply and demand are described by a bell curve, with the mean at the price level. Sales decrease above that mean because buyers know they can buy for less, and below that mean because sellers know they can sell for more. So, technically, you could sell a nightmaster coat for 900k when one generally goes for 500k, however the likelihood of finding a buyer at that price is minimal, if not impossible (as Taranis does not have an infinite population).

The same economics follow most every item.

However, as you know, most business is not solely economical, but also social. Reputation and reviews have HUGE impacts on consumer goods and companies. Even on Taranis, there has always been a group of ruthless traders, completely profit-driven. They make a LOT of gold, however at the expense of reputation and review: most every deal is one-sided, relying on extracting the most benefit from a sale. These people end up only dealing with those who have never experienced them, or those desparate for a specific rare item. Everyone else stays away from them and finds business elsewhere, knowing they will walk away from the next deal feeling happy and fair instead of cheated. Meanwhile, those who conduct regular business at regular prices enjoy more satisfactory deals for both parties, and long-term relationships. The sharks never live long.

The auction house is an auction house, not a store. Ever notice how when the minimum prices are set above the market value the item rarely sells? While those set below the market value bid up and sell, sometimes above market value? Markets tend to sell at the market value, with normal deviation (as I described earlier). Psychologically, when people are outbid, they see the cost of rebidding at a higher price in relation to their previous bid: "Oh, what's another 3k". Thus, you are more likely to sell an item for above market prices if it starts significantly below market value, as it attracts people to bid, get outbid, and bid again (thus outbidding someone else, starting a bidding war). Those items placed at above-market prices just clutter the listing.

Hopefully this changes your perception.
World Taranis

- Regenleif -
Rachmaninoff
Aedin Flameborn

Guardian of Aeon
Green Team!

I am a Guide! If you need any tips/help/advice, Click Here to send me a message!

Re: *Price of items debate*

#5
Regenleif wrote:Your argument for high prices is that prices are set by the seller. That claim is false.

The price level is set by what buyers are willing to pay for the item. This can be influenced by the seller, through monopolies on goods (as you stated in your argument), but it is important to note that demand curves on classical markets (such as CH's) do not approach infinity as supply approaches 0.

In other words, if you have the only nightmaster coat on Taranis, you very most likely will not be able to sell it at whatever higher-than-market price you wish.

It is true, that the sale prices of items at a given supply and demand are described by a bell curve, with the mean at the price level. Sales decrease above that mean because buyers know they can buy for less, and below that mean because sellers know they can sell for more. So, technically, you could sell a nightmaster coat for 900k when one generally goes for 500k, however the likelihood of finding a buyer at that price is minimal, if not impossible (as Taranis does not have an infinite population).

The same economics follow most every item.

However, as you know, most business is not solely economical, but also social. Reputation and reviews have HUGE impacts on consumer goods and companies. Even on Taranis, there has always been a group of ruthless traders, completely profit-driven. They make a LOT of gold, however at the expense of reputation and review: most every deal is one-sided, relying on extracting the most benefit from a sale. These people end up only dealing with those who have never experienced them, or those desparate for a specific rare item. Everyone else stays away from them and finds business elsewhere, knowing they will walk away from the next deal feeling happy and fair instead of cheated. Meanwhile, those who conduct regular business at regular prices enjoy more satisfactory deals for both parties, and long-term relationships. The sharks never live long.

The auction house is an auction house, not a store. Ever notice how when the minimum prices are set above the market value the item rarely sells? While those set below the market value bid up and sell, sometimes above market value? Markets tend to sell at the market value, with normal deviation (as I described earlier). Psychologically, when people are outbid, they see the cost of rebidding at a higher price in relation to their previous bid: "Oh, what's another 3k". Thus, you are more likely to sell an item for above market prices if it starts significantly below market value, as it attracts people to bid, get outbid, and bid again (thus outbidding someone else, starting a bidding war). Those items placed at above-market prices just clutter the listing.

Hopefully this changes your perception.

I don't agree when I get outbid above market value I just say ha that sucker overpayed and bid on something else lmao
Image

Re: *Price of items debate*

#6
Elfylolz wrote:
Regenleif wrote:Your argument for high prices is that prices are set by the seller. That claim is false.

The price level is set by what buyers are willing to pay for the item. This can be influenced by the seller, through monopolies on goods (as you stated in your argument), but it is important to note that demand curves on classical markets (such as CH's) do not approach infinity as supply approaches 0.

In other words, if you have the only nightmaster coat on Taranis, you very most likely will not be able to sell it at whatever higher-than-market price you wish.

It is true, that the sale prices of items at a given supply and demand are described by a bell curve, with the mean at the price level. Sales decrease above that mean because buyers know they can buy for less, and below that mean because sellers know they can sell for more. So, technically, you could sell a nightmaster coat for 900k when one generally goes for 500k, however the likelihood of finding a buyer at that price is minimal, if not impossible (as Taranis does not have an infinite population).

The same economics follow most every item.

However, as you know, most business is not solely economical, but also social. Reputation and reviews have HUGE impacts on consumer goods and companies. Even on Taranis, there has always been a group of ruthless traders, completely profit-driven. They make a LOT of gold, however at the expense of reputation and review: most every deal is one-sided, relying on extracting the most benefit from a sale. These people end up only dealing with those who have never experienced them, or those desparate for a specific rare item. Everyone else stays away from them and finds business elsewhere, knowing they will walk away from the next deal feeling happy and fair instead of cheated. Meanwhile, those who conduct regular business at regular prices enjoy more satisfactory deals for both parties, and long-term relationships. The sharks never live long.

The auction house is an auction house, not a store. Ever notice how when the minimum prices are set above the market value the item rarely sells? While those set below the market value bid up and sell, sometimes above market value? Markets tend to sell at the market value, with normal deviation (as I described earlier). Psychologically, when people are outbid, they see the cost of rebidding at a higher price in relation to their previous bid: "Oh, what's another 3k". Thus, you are more likely to sell an item for above market prices if it starts significantly below market value, as it attracts people to bid, get outbid, and bid again (thus outbidding someone else, starting a bidding war). Those items placed at above-market prices just clutter the listing.

Hopefully this changes your perception.

I don't agree when I get outbid above market value I just say ha that sucker overpayed and bid on something else lmao


Value is subjective. And something being over paid for is subjective. The people paying more than what we consider an item to be worth is obviously worth it to them.
Zyz 217 Druid
Noah Fences 220 Rogue

Who is online

Users browsing this forum: No registered users and 3 guests