This is what I'm trying to get my head around with respect to the market for enhancement converters. Let's say for the sake of argument that they trade at 100,000 each. I understand that many/most people feel that they are the most efficient way to convert merits into influence, so each merit translates to three enhancement converters to 300,000 inf.
At the same time, I can spend 1mm influence to buy a merit, or to buy ten enhancement converters in the market.
I call this "The Curious Case of Enhancement Converters." I totally get the bid/offer spread, but frankly I have a hard time with the idea of converting merits into enhancement converters. It seems like a real waste of merits, but at the same time I may have nothing better to spend merits on. I know that if I want ten enhancement converters, I can raise 1mm in the AH a lot faster than I can earn 3-4 merits.
So I believe that enhancement converters are both wildly underpriced and wildly overpriced at the same time. I know I will always be willing to buy them, and I know that hundreds/thousands of people will be willing to sell them. I expect that sellers will gradually outnumber buyers, but who knows.
I do know, however, that I refuse to flip them. I haven't observed a bid enough gap in bid/offer, and the dynamics certainly feel that sellers are more motivated than buyers.
my two inf