Curse

El Presidente · May 06, 2008, 02:07 AM // 02:07

The price guide, whether updated or outdated, serves as a baseline and recent posted sales/buys can give an average; however, it all comes down to what the seller feels is a reasonable price and/or the buyer is willing to pay...

Quote:

Originally Posted by Ctb

Kind of like a mahogany carving of a cat licking its own nuts. I wouldn't pay a nickel for such an atrocity, but I'll bet lots of people out there would be happy to bid tens, if not hundreds of thousands of dollars on such an absurdly useless thing just to say they have it.

Bah, mahogany...now if you were talking Swarovski crystal ~ I'd be all over that

Martin Alvito · May 06, 2008, 02:27 AM // 02:27

1) As others have noted, everything is worth what someone will pay for it. Nothing in life has an intrinsic value; the value of an item is a function of how common the item is and how badly people want one. AKA: supply and demand.

2) These values in GW are always ranges, as there's a time price associated with selling an item. The lowest sustainable price is the highest price that guarantees an instant sale (time price = 0), as all lower prices are dominated by that price. The highest sustainable price is the highest price that any player is willing and able to pay. Anything within that price range is a legitimate transaction that we should expect to observe.

From the above: price guides are put together from data, not opinion. Since these items have no intrinsic value, we assemble a price guide by observing data points (prices things sell for) and then attempting to infer what the lowest and highest sustainable prices are. We do not assemble price guides from the opinions of players; there's no basis in fact for inferring that any opinion or collection of opinions is a valid measure of what stuff will sell for.

This thread will go nowhere, and it should be locked. At best, continuation of this thread will enable some individual that understands neither logic nor economics (or a troll that does understand these concepts) to provoke a flamefest.

Savio · May 06, 2008, 03:08 AM // 03:08

Prices are not arbitrarily set by discussion. This isn't a suitable topic for discussion, nor would it belong in the price check forums. Closed.