Upside-down Market?

[WuTang]

I was trying to do the whole make inf converting thing yesterday when I noticed a strange thing and then began looking deeper into it. Some recipes are selling for 3-4 times as much as the crafted enhancement, actually many were. This may have always been a thing but did the enhancement market take a dump or is there something special that happens if you craft certain enhancements over coverting to them? Like the Miracle +recovery, the recipe was showing 11-22 million but the actual enhancement was only 4mil or less. I tested it by throwing up a 4mil bid on the recipe and left it for 20 min and never got one, so definitely people are listing them higher than the enhancement even if the bid history is bugged.

Also, suddenly the resist and defense enhancement recipes are off the chart, even for the mundane ones. But not even the cost of the Gambler enhancements justify the higher costs.

Any thoughts?

Or is this the newb in me shining bright again?

[Player2]

Sometimes someone will throw something on the auction house for lower than its worth to avoid a higher listing fee, and then it will sell for a lower amount and that will get recorded in the 5 most recent sales.  In fact, while buying standard IOs, I've seen that with enhancements that sell normally for 200k or more each have the last five sales showing a ridiculously low amount...  like 15,177.  Bid low, you never know if someone is going to list something and you'll be the next available highest low bid.  That's no guarantee, but occasionally it does happen, just like when someone over bids on something because they added an extra zero and clicked too quick; why is that basic enhancement that sells for 100k suddenly showing a million inf sale?  Because things happen on the market, but the actual values of things still have a norm and will stabilize pretty quickly.

[WuTang]

4 minutes ago, Player2 said:

Sometimes someone will throw something on the auction house for lower than its worth to avoid a higher listing fee, and then it will sell for a lower amount and that will get recorded in the 5 most recent sales.  In fact, while buying standard IOs, I've seen that with enhancements that sell normally for 200k or more each have the last five sales showing a ridiculously low amount...  like 15,177.  Bid low, you never know if someone is going to list something and you'll be the next available highest low bid.  That's no guarantee, but occasionally it does happen, just like when someone over bids on something because they added an extra zero and clicked too quick; why is that basic enhancement that sells for 100k suddenly showing a million inf sale?  Because things happen on the market, but the actual values of things still have a norm and will stabilize pretty quickly.

Yeah and I'm assuming when I see the exact same price listed multiple times it's sniper filling a blanket order at a low bid to flip them. 

I'm still figuring the market out but not knowing the value of things and the history sometimes being bugged and the volatility of its nature all makes for a tough beginning for a newb.

What I converted yesterday netted me a small profit, but I figured out how the converts work so that was a huge win. Now I just gotta get a tad more efficient at it.

[Yomo Kimyata]

Sometimes it’s a bugged last 5 display.

 

Sometimes it’s a fat finger trade, where someone accidentally inputs an extra digit or otherwise bids extremely high.  This does happen a lot, but probably isn’t a consistent or predictable answer to your question.

 

What I have noticed for as long as I’ve been here is that specific recipes, usually the one for the particularly useful proc in the set, tend to go for relatively high prices.  I’ve rationalized this as:  some people really want to craft their own enhancements, even if there are more efficient/cheaper ways of obtaining the end product.  Alternatively, some people really don’t understand the auction house and/ or converters.  Or, and here’s the rub, they just don’t care and have plenty of an imaginary currency and are going to behave in irrational fashion because they can.

[sbloyd]

I'll admit I sometimes overbid when buying bulk garbage recipes for the purpose of flipping them.  Not by millions, of course.

[ZemX]

1 hour ago, WuTang said:

Or is this the newb in me shining bright again?

 

How many of that recipe were available for sale?  If the number is low the price could be anything since people can post for anything.  Normally posting too high means it will never sell.  Why someone actually paid that much is a mystery but then again there are people for whom 11 million inf is what they find in the couch cushions.

 

What you see in the most recent sales window is just the most recent sales.  People often confuse this for the "going rate" or "market value" of an item but it's not enough of a window to really know that.  You could be looking at a short term anomaly, a mistake while typing (as Yomo mentioned), or just someone who doesn't know what an item should be worth.  

 

The higher the available count, the more sales volume there usually is.  It's a hot ticket item, in other words.  Those usually have more stable prices if you check them over time.  But again, anything can happen in that short term history window.  For a lot of items, the market just isn't large enough to establish a stable price.

[Ironblade]

13 minutes ago, sbloyd said:

I'll admit I sometimes overbid when buying bulk garbage recipes for the purpose of flipping them.  Not by millions, of course.

 

Yeah, when I find an item where there are a couple hundred recipes available, I'll start bidding at like 5500 and just keep going up until I've bought like 90% or 95% of them.  I'll usually end up around 175,000 per recipe.  Grossly overpaying but, if I'm going to sell the final product for a few million, who cares?

[Skyhawke]

Came in hoping to see that the update turned all the Wentworths upside down, ingame. Leaving very disappointed. 

[Grouchybeast]

There's also a long-standing display bug that straight-up shows you prices from a completely different IO.  Hopefully that will eventually get fixed whenever the HC devs burn the AH code to the ground and start again.

 

 

The Market Forum has collected a list of some of the affected items in this thread and this one,.  It's probably not complete because IIRC it wasn't possible to find all the pairs sharing prices.

[Greycat]

1 hour ago, Skyhawke said:

Came in hoping to see that the update turned all the Wentworths upside down, ingame. Leaving very disappointed. 

 

Would you really want to go to sˌɥʇɹoʍʇuǝM though?

[Psyonico]

I have noticed recently that some recipes have been going up in price while some more in demand IOs have been going down in price.

 

This isn't a display bug, this is "I am not buying/selling things when I used to buy/sell them quickly"

[Skyhawke]

43 minutes ago, Greycat said:

 

Would you really want to go to sˌɥʇɹoʍʇuǝM though?

 

 

[Clave Dark 5]

11 hours ago, Player2 said:

I've seen that with enhancements that sell normally for 200k or more each have the last five sales showing a ridiculously low amount...  like 15,177.  Bid low, you never know if someone is going to list something and you'll be the next available highest low bid.

I game during overnight hours and see this a fair amount, I figure something about the slowing of the market somehow helps this happen.  I've also read of people who vendor any and everything at 1 Inf because it's easier and requires less thought.  Combine those two and that might cover some of that, I figure.