Which one of you jokers dumped a bunch of cheap LotG on the Market?

[sbloyd]

See title.

[Ironblade]

Not me.  If I find or craft any extras, I hoard them.

[ScrewlooseCohh]

What do you mean by cheap?

The demand is high enough that I would expect any amount of low priced Enh to get snapped up pretty quickly.

[sbloyd]

There were a bunch of +Global LotG going for sub-3mil this morning.  They're hoving around five mil now, looks like.  I'm too tired to relist all mine.

[tidge]

I'll list (non Def/global +Recharge) LotG pieces when the stockpile is "too big" and if I don't feel like playing converter roulette. There are only a few circumstances where I will use other pieces from the LotG set, but I know folks will buy them. As @Ironblade wrote: I usually keep the globals, as well as Reactive Defenses pieces.

 

If not a "Display Bug" It's entirely possible that someone listed some of the pieces to quickly get them attuned.

[Ridiculous Girl]

yeah, i saw that the LOTG market bottomed out and it's crazy. someone must have dumped a large sum of crafted LoTGs and put them up for 1inf. i wish people would stop doing the 1 inf thing. it messes up the market and it often does not save you any inf.

[Yomo Kimyata]

I guess it's time to find a spare alt and put in another thousand bids at 1...

[Mopery]

 

[Wavicle]

On 2/16/2024 at 7:31 AM, Ridiculous Girl said:

yeah, i saw that the LOTG market bottomed out and it's crazy. someone must have dumped a large sum of crafted LoTGs and put them up for 1inf. i wish people would stop doing the 1 inf thing. it messes up the market and it often does not save you any inf.

 

It saves me time.

Please explain how "it messes up the market"?

[kelika2]

change bad

[MoonSheep]

oh the days when an LoTG would sell for 55-60 million

 

cheap prices are beneficial for a lot of the community but the inf hoarder in me does miss the high prices

[Perfidy]

On 2/15/2024 at 7:47 PM, sbloyd said:

There were a bunch of +Global LotG going for sub-3mil this morning.  They're hoving around five mil now, looks like.  I'm too tired to relist all mine.

I want to encourage you to remember one of the primary rules of making money on the AH: 
Patience! 

Anecdotally, there was a time, a couple of years back maybe, when the LotG 7.5% sold routinely for 6-8M, typically 7M on average. And then, wouldn't you know it, someone listed a good number of them - over 100 - at less than 6M. 
Almost all of my characters use these, at least 3 per character. Given the number of slots we have per shard, that's at least 3K of these I'll use at one point or another. So, I bought as many as I could at 5M - which was only about 110 over the course of a couple of days. 

I thought about relisting them, but that seemed a bit mercenary, and I knew I'd use them and I still have about 50 or so in my base. 
But, each day I'd check back, and the 7M (fairly stable price) just didn't seem to come back. It would seem production of these had picked up, and 6M was the new normal. 

Will 3-5m become the new normal? No idea. I doubt it. I would expect since people have been willing to pay 7M in the past, they'll be willing to pay it again - eventually. But it all depends on the supply, and of course, the demand. 

We've got a fair number of what I'd call "new" players, many of whom may have played before, some before IOs were even a thing. No idea how long they'll stick around, but the cheaper prices can only be a good thing for the game and the players. 

Still - relisting? Why? Just wait for the cheap ones to get bought and then yours can get bought at a higher price. It's just the way the market works sometimes. Sometimes, you have to wait a week. Sometimes you'll wait a month. But usually, everything sells unless you've really priced your stuff just too high, like 1.5x the price you're used to getting. 

[Demobot]

My rule of thumb for marketeering generally is that if you list an item and it sells instantly, you listed it too low. The only reasonable exception I can think of is if you're just starting out and have literally no inf whatsoever. Otherwise you're better off listing higher and waiting. 

 

As a wise person once said, the market is a mechanism for transferring wealth from the impatient to the patient. Maybe some people think they're being altruistic by dumping stuff for 1 inf, but lowball bids tend to be placed by people who are going to resell those items at a higher price later on. 

[Ridiculous Girl]

On 2/17/2024 at 10:48 PM, Wavicle said:

Please explain how "it messes up the market"?

it messes up the market for people that make their in-game living selling stuff on the market, they rely on some sort of stability of prices. people selling for 1 inf are undercutting the people that want to sell at a reasonable price and get a reasonable price paid. when someone dumps a bunch of LotG, say a full stack of 70, on the market for 1inf, it means that they do not care what the price someone pays for it. they'll take 1 inf as well as 3 million, as well as 6 million, they don't care what they make off of the sale. that destabilises the market for the people that do care. yes, the market will right itself back up to the price that people are willing to pay for something, but that takes time. in the meantime prices for the LotG drop to sub 3 mill, when it normally runs in the 6-7 million range, and it makes it difficult for people to know what price to buy or sell at. which, in turn, barely makes it worthwhile to craft and sell in quantity. suddenly where it was 3-4 times in return in what i had invested, spending time and influence to craft and sell, if falls to less than 2x for all the time and effort. suddenly the regular crafters, like me nearing my 40,000th IO set enhancement crafted, need to find another a more stable market, at least until it stablises and becomes worthwhile again.

 

(for what it's worth, i do not currently craft LotG because the market is currently too tight)

 

On 2/19/2024 at 2:44 PM, Demobot said:

As a wise person once said, the market is a mechanism for transferring wealth from the impatient to the patient. Maybe some people think they're being altruistic by dumping stuff for 1 inf, but lowball bids tend to be placed by people who are going to resell those items at a higher price later on. 

 

it's this exactly. it's not really helping, people that want to sell would prefer that it sells for the most reasonable price that people are willing to pay, that requires a stable market. dumping for 1 inf, does not accomplish this.

[Luger]

Price vs time... need to convert object to money quickly, price will be low.  Need to convert money to object quickly, price will be high.  In these cases you are selling the bid and buying the ask.

 

This is no different than the stock market.  Frenzies, washouts, etc.  Human emotion along with the real needs of people buying stuff on a timeline.  The time component is the most important.  For a new toon, I always start bidding for the attuned sets I want almost immediately at very low prices.  Usually by the time I can use them I have paid only a low cost.  25%-50% of the going rate.

 

Markets are only stable if supply and demand are in balance.  Balance can get shifted in the short term or long term.  Selling a big stack immediately is short term.  Long term is a shift in the needs of players vs the suppliers.  Understanding which change in balance you are dealing with is important to know what to do yourself.

[Pleonast]

Remember, the auction house is PvP—it is players directly competing against each other. Whether or not it should be, it certainly is now, except for some seeding. 

[Ghost]

No offense @Ridiculous Girl

bur when I’m dropping everything I get for farming into the AH for 10inf - the last thing I care about is whether someone is able to make millions off another player, who may not know better.

[RagManX1]

1 hour ago, Pleonast said:

Remember, the auction house is PvP—it is players directly competing against each other. Whether or not it should be, it certainly is now, except for some seeding. 

This is what I tell folks. I PvP in CoH by marketeering. It's the only competitive aspect of the game at which I have some skill.

[sbloyd]

Mainly I'm just salty because I don't normally do LotG, but dropped about fifty on the AH right before this destabilization happened.

 

Glad to see some reasoned conversation coming out of it.

[Wavicle]

3 hours ago, Ridiculous Girl said:

it messes up the market for people that make their in-game living selling stuff on the market, they rely on some sort of stability of prices. people selling for 1 inf are undercutting the people that want to sell at a reasonable price and get a reasonable price paid. when someone dumps a bunch of LotG, say a full stack of 70, on the market for 1inf, it means that they do not care what the price someone pays for it. they'll take 1 inf as well as 3 million, as well as 6 million, they don't care what they make off of the sale. that destabilises the market for the people that do care. yes, the market will right itself back up to the price that people are willing to pay for something, but that takes time. in the meantime prices for the LotG drop to sub 3 mill, when it normally runs in the 6-7 million range, and it makes it difficult for people to know what price to buy or sell at. which, in turn, barely makes it worthwhile to craft and sell in quantity. suddenly where it was 3-4 times in return in what i had invested, spending time and influence to craft and sell, if falls to less than 2x for all the time and effort. suddenly the regular crafters, like me nearing my 40,000th IO set enhancement crafted, need to find another a more stable market, at least until it stablises and becomes worthwhile again.

 

(for what it's worth, i do not currently craft LotG because the market is currently too tight)

 

 

it's this exactly. it's not really helping, people that want to sell would prefer that it sells for the most reasonable price that people are willing to pay, that requires a stable market. dumping for 1 inf, does not accomplish this.

This would be what is classified as an SEP.

Someone Else's Problem.

You are not OWED a particular price. If you want a stable sale price, the Vendor is right there.

[Wavicle]

I will be even more clear:

Someone else was able to provide the goods at a lower price than you did, while still making what is, to them, a sufficient profit. This, naturally, undercuts your sales.

Welcome to capitalism.

Edited February 20 by Wavicle

[Yomo Kimyata]

4 hours ago, Ridiculous Girl said:

it messes up the market for people that make their in-game living selling stuff on the market, they rely on some sort of stability of prices. people selling for 1 inf are undercutting the people that want to sell at a reasonable price and get a reasonable price paid. when someone dumps a bunch of LotG, say a full stack of 70, on the market for 1inf, it means that they do not care what the price someone pays for it. they'll take 1 inf as well as 3 million, as well as 6 million, they don't care what they make off of the sale. that destabilises the market for the people that do care. yes, the market will right itself back up to the price that people are willing to pay for something, but that takes time. in the meantime prices for the LotG drop to sub 3 mill, when it normally runs in the 6-7 million range, and it makes it difficult for people to know what price to buy or sell at. which, in turn, barely makes it worthwhile to craft and sell in quantity. suddenly where it was 3-4 times in return in what i had invested, spending time and influence to craft and sell, if falls to less than 2x for all the time and effort. suddenly the regular crafters, like me nearing my 40,000th IO set enhancement crafted, need to find another a more stable market, at least until it stablises and becomes worthwhile again.

 

(for what it's worth, i do not currently craft LotG because the market is currently too tight)

 

 

it's this exactly. it's not really helping, people that want to sell would prefer that it sells for the most reasonable price that people are willing to pay, that requires a stable market. dumping for 1 inf, does not accomplish this.

 

I absolutely hear what you are saying, but it's pretty hard to sympathize with the marketer who is pleading that other sellers sell at higher prices...

[Wavicle]

In the real world, there are actually laws against colluding with others to set higher prices. But this isn't the real world, so have a blast!

[Ironblade]

25 minutes ago, Yomo Kimyata said:

I absolutely hear what you are saying, but it's pretty hard to sympathize with the marketer who is pleading that other sellers sell at higher prices...

 

The RPG version of 'first world problems'.

[sbloyd]

3 minutes ago, Ironblade said:

 

The RPG version of 'first world problems'.

 

But... my billions!