Curse

guardianrahl · Dec 25, 2006, 02:56 AM // 02:56

I have been hearing lots of complaints about the Guild Wars economy and how many rare items (crystalline swords, Green Items, etc) items have been devalued as the game has progressed. Many people, most of which have been playing the game since the beginning, claim that many rare items sold for upwards of 2 million G when the game first came out are now only selling for 10-15K. I, myself, have only been playing for half a year, so I have no recollection of such sellings.

One particular individual, who had countless maxed characters and farmed for ectos in his sleep, basically blamed it on newbs, saying that the introduction of green items caused many items to become readily accessable to those who shouldnt have been able to earn the items that quickly, which caused an influx of the items and inflation in the overall economy.

Another player basically blamed those who HAVE the maxed characters, saying that those who have nothing left to do but farm greens are to blame by putting a massive amount of items into circulation for people to buy instead of actually earn them in the environment.

What are your thoughts on the issue, and do you think that the economy is experiencing inflation and if that inflation will ever be detrimental to the economy of the game?

Antheus · Dec 25, 2006, 03:07 AM // 03:07

Both of those players are idiots.

Inflation is when prices go up, not down.

I mean, this is all economy 101. Supply and demand. When first of a kind object is found, it has insanely high prices.

There is some blame to be put on some people, but not for ruining the economy, just for affecting the perception.

As certain builds apeared (here's a reference to ecto farming, riverside runs, and similar), a select handful of individuals amassed absurd ammounts of money in short time. They were the rare few who could afford to pay any price for items they wanted.

In times, when players had trouble buying basic armor, they were holding on to full inventories of sup runes worth 100k each. So they set their ratios. Millions upon millions, to the extent where cap was put on money in inventory.

But as this money was diluted, the overall wealth of population increased. Along with that, the total number of available items steadily increased, driving prices down.

Now, to the point of calling those two idiots. They complain about the economy, because they can no longer simply farm ectos or their favorite green, and make a killing out of a very simple routine.

But what is wrong with economy? The fact that you can no longer afk farm UW? Or that people realized it's not worth paying 100k+xx ectos for some skin?

Supply and demand.

For the record, crystaline and elemental swords still sell for absurd ammounts of money, as well as some other artefacts. The supply of those is so small, and they are extremly desirable.

The rest, is mostly balanced.

twicky_kid · Dec 25, 2006, 03:09 AM // 03:09

All prices are going to go down because there is no cost to find them and more supplies are coming into the game.

This isn't like real life where the cost of creating the item and man hours is taken from your profits forcing the price to rise when either of those factors go up.

All prices will go down as the game progresses. Weapon prices are always going to go down. Very few people have the gold to actually buy them. If you can't sell an item for what you are asking for you will lower the prices. You're not making anything by the item sitting in your inventory. The longer it sits in your inventory the more the value goes down.

guardianrahl · Dec 25, 2006, 03:10 AM // 03:10

Quote:

Originally Posted by Sean22190

I like the fact that the economy is crappy. Means better weapons are easier to get.

This is true, but i think the fact that items are so easy to attain may cause problems in the future. If items are worth less, then that means you can't sell them for much. This means making money becomes harder and harder, especially since to new AoE updates have made farming much more arduous, meaning it takes many painstakingly boring hours to attain, a set of FoW armor for instance.

[DE] · Dec 25, 2006, 03:13 AM // 03:13

The longer an item has been in the market/game, the more there will be, aka, the less they will sell for.

-Merry Christmas [Eve]-

VGJustice · Dec 25, 2006, 03:16 AM // 03:16

Quote:

Originally Posted by twicky_kid

All prices will go down as the game progresses. Weapon prices are always going to go down. Very few people have the gold to actually buy them. If you can't sell an item for what you are asking for you will lower the prices. You're not making anything by the item sitting in your inventory. The longer it sits in your inventory the more the value goes down.

Ding. Give this guy a cookie.

People payed insane amounts for those items because they either had the money from massive powerfarming or good trading and had nothing else to spend it on and had to have the item right now for whatever reason OR they e-bayed the gold and didn't care about value. I think 90% of the initial severe overpricing was from the first group, tbh. Not that that's a bad thing, that just made more people get out there to farm a specific item in the hopes of getting rich quick which in turn flooded the market, devaluing the items. Now there's a good supply for the not-so-rich in game and there's a lot more happy players that don't have the time to farm the item, are extremely unlucky drop wise, or just want it now.

T N Player · Dec 25, 2006, 03:23 AM // 03:23

They shouldn't get mad at noobs, it is all Anet fault. They do the double drop weekends and other events that change the prices

Coloneh · Dec 25, 2006, 03:23 AM // 03:23

if you have been playing for a few months you should have seen examples of this yourself. white dyes were >60k when they first entered the game(not just from the trader, players to) and nightfall greens are quickly dropping in price as more people get the game. like someone said its econ 101(although i haven't taken econ yet) when new things enter the market they start out very expensive but steadily decline in price.

guardianrahl · Dec 25, 2006, 03:25 AM // 03:25

Quote:

Originally Posted by The Phantom

The longer an item has been in the market/game, the more there will be, aka, the less they will sell for.

Which would explain the introduction of Green Items, A-net came up with new items that were worth insane amounts of money as those first rare drops.

Quote:

Originally Posted by VGJustice

I think 90% of the initial severe overpricing was from the first group, tbh. Not that that's a bad thing, that just made more people get out there to farm a specific item in the hopes of getting rich quick which in turn flooded the market, devaluing the items. Now there's a good supply for the not-so-rich in game and there's a lot more happy players that don't have the time to farm the item, are extremely unlucky drop wise, or just want it now.

So it seems that the answer is for A-net to constantly come out with new items to satisfy the old players and thir explorations, while the older items will provide reachable goals for the new player to "catch-up" with.

=HT=Ingram · Dec 25, 2006, 03:30 AM // 03:30

EVERYTHING is worthless has been since day 1. Its a perceived make believe value that is on these skins for want of a better word. I don't want to flame this but hearing this crap always pisses me off.
Look at it this way OK

day one 0 of item x in the game.
someone finds one in a drop or chest or boss drops.
Then there is 1 of item x in game. Max price for item achieved.
days go on more people find it.
then there is 50 of item x in the game. Max price prob at least 1/2 what it was the first day.
months go by and there is 100s of item x in the game.
Price is now prob 1/4 what it was on day 1.
Months more go by and there will be 1000s of the item in the game.
Then millions and so on. they are not destroyed you see. they can only go up in supply, not down unless someone sells to the merchant. Which is unlikely. But even still unless its done in HUGE amounts as it is with ecto and gems for large amounts of Gold. then the supply remains growing forever.

Now this is Econ 101 again... as supply goes up, price falls, and demand decreases. that's just the way it is for EVERY item in the game no matter how cool you THINK it is.

By game design NOTHING in the game was ever to be traded for amounts over 100K, this is FACT. But the greedy idiots in the game that play this MARKET game instead of Guild Wars believe otherwise. Fact, if there is something going for 2million gold, wait 3 months it will be far far under that if not under 100k itself. that's for EVERY item in the game. and every new item in the game. So never purchase something for ungodly amounts thinking you will be able to flip your investment in 6 months time. It just does not happen. In fact its impossible to happen unless the supply of the item is cut off completely. Never to return. I'm thinking of things like Peppermint candy canes here... In 3 or 4 years time if those kind of CC never return they will be astronomical. Or something like the -50 and -20 health item if it is ever taken out of the game those items will sky rocket. if they are allowed to continue to exist. Many rumors in fact had started to circulate ages ago trying to convince people that the items were removed in an effort to get them to jump in price, and it was 100% bogus. so that's something to be aware of too.

Lets put it this way... if you have 2 million gold in hand ready to waste on anything in this game, well you deserve to loose your shirt for doing it. cause you are either a bot, a bot wannabe, or a gold buyer. there is no reason at all in this game to ever purchase anything for much over 100k even for the vainest of Vain. and those that DO are insane and supporting a gold reseller market I can 100% guarantee.

lacasner · Dec 25, 2006, 03:34 AM // 03:34

Hmm...i kinda have to disagree, because other than pvp making money is the only thing to do in this game after you beat the story.

Gimme Money Plzkthx · Dec 25, 2006, 03:35 AM // 03:35

@ ingram: just because someone has more gold than you (i.e. millions+) does not mean they are a gold buyer. I have never touched ebay and my account easily exceeds three or four million gold. As for prices decreasing and items devaluing, cry about it. If you feel like buying the item the day it comes out, expect it to to devalue, and expect to take losses on your (lack) of an investment, it's just how the economy goes.

Sanji · Dec 25, 2006, 03:35 AM // 03:35

Anyone who takes fake internet money too seriously is to blame.

Gimme Money Plzkthx · Dec 25, 2006, 03:37 AM // 03:37

No ones to blame, theres nothing wrong with the economy.

guardianrahl · Dec 25, 2006, 03:40 AM // 03:40

Quote:

Originally Posted by Gimme Money Plzkthx

No ones to blame, theres nothing wrong with the economy.

This has nothing to with the post really, but it was quite ironic that your name is "Gimme Money" lol....nice

Phoenix Ex · Dec 25, 2006, 03:44 AM // 03:44

Then there's also those who take the "I am casual and its unfair for me! Anet says its no grind, make everything cheap now!" who take the notion of no grinding for competition to the wrong direction...

My conclusion is...BOTH. There should be an balanced number of items for each type of people. Everything too expensive = bad. Everything too cheap = boring/nothing to look forward to.

Gimme Money Plzkthx · Dec 25, 2006, 03:45 AM // 03:45

It is quite balanced, as you can buy rare skins/fissure armor if you're uber rich or you can buy 15^50 collectors items for 5k, maybe mod them for a bit more. Or you could play the drops if you're really poor. Just because you don't have a lot of money, rare skins, and fissure armor does not mean the game is unfair.

-.- · Dec 25, 2006, 04:33 AM // 04:33

Inflation is good.

Sseth672 · Dec 25, 2006, 04:44 AM // 04:44

Quote:

Originally Posted by Coloneh

.....when new things enter the market they start out very expensive but steadily decline in price.

Not true, think of my stash of Yuletide tonics iv got rdy to sell in march? rite now ppl hav gone crazy an started sellin em 400g each an drinkin them..ill keep about 10-20 an sell them all before the next holiday event 4 somthin like 5k each - i think in economics it would be referred to as a collection or antique..their price always goes up

extra bacon · Dec 25, 2006, 04:48 AM // 04:48

Quote:

Originally Posted by -.-

Inflation is good.

inflating my storage balance is even better.