Yep, Ectos just hit 11k at merchant.
Thats the highest I have seen them for a very long time.
Not sure why though. Any Ideas?
So Ectos Just Hit 11k!
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Shards were high as well, over 3k.
My guess is that a bunch of eBayers went on shopping frenzy. They are the only ones who wouldn't care about prices, everyone else would buy them over time for player prices.
It's really easy to affect prices on resource market, but spikes tend to level off fast.
During start of Factions I used to craft linen (I think, or damask). By buying all resources from material traders I could turn 5% profit over period of two weeks, simply by selling the crafted materials back to trader. But I had to take caution of buying and selling the materials, since I alone could push the price up or down by buying/selling several stacks. Of course, I'd be tradin 30-40 stacks at a time.
Same thing with ectos, but with much less circulation, if two or 3 players buy a stack, it will definitely push the price up. And here it's also tied to shards, so eBay is the logical conclusion.
My guess is that a bunch of eBayers went on shopping frenzy. They are the only ones who wouldn't care about prices, everyone else would buy them over time for player prices.
It's really easy to affect prices on resource market, but spikes tend to level off fast.
During start of Factions I used to craft linen (I think, or damask). By buying all resources from material traders I could turn 5% profit over period of two weeks, simply by selling the crafted materials back to trader. But I had to take caution of buying and selling the materials, since I alone could push the price up or down by buying/selling several stacks. Of course, I'd be tradin 30-40 stacks at a time.
Same thing with ectos, but with much less circulation, if two or 3 players buy a stack, it will definitely push the price up. And here it's also tied to shards, so eBay is the logical conclusion.
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Originally Posted by Antheus
Shards were high as well, over 3k.
My guess is that a bunch of eBayers went on shopping frenzy. They are the only ones who wouldn't care about prices, everyone else would buy them over time for player prices. It's really easy to affect prices on resource market, but spikes tend to level off fast. During start of Factions I used to craft linen (I think, or damask). By buying all resources from material traders I could turn 5% profit over period of two weeks, simply by selling the crafted materials back to trader. But I had to take caution of buying and selling the materials, since I alone could push the price up or down by buying/selling several stacks. Of course, I'd be tradin 30-40 stacks at a time. Same thing with ectos, but with much less circulation, if two or 3 players buy a stack, it will definitely push the price up. And here it's also tied to shards, so eBay is the logical conclusion. |
ive said it once and i'll say it again, the hundreds of thousands or millions of players activly participating in the economy can, do, and will supercede the effect of a few people, except on a short term basis.
the price goes up when people get frustrated trying to buy ecto from other players for the current market-price, and so buy fomr the merchant instead. often, because the price will be raised, the same people that helped raise the price, will subsequently have an easier time finding players selling them, as more and more people dump their ecto on the market for the new raised price.
eventually the amount of ecto released reverses the process, as all the people now trying to sell at the higher price are getting frustrated with a lack of buyers, and then subsequently sell to the merchant, driving the price back down.
sometimes this process of ebb and flow takes hours, days, weeks or even months before it hits the crest and the lull respectivly.
the fact that you chalk off economic movements to ebay is a sheer demonstration of your absolute lack of economic understanding, as is the case of ANYONE crying ANY situation of a handful of ebayers driving up prices.
fact of the matter is, the wealthiest players in the game are NOT ebayers. and even so, the wealthiest players cannot and do not control the economy; feel free to countermand my argument on this point, i welcome you to do so, as i'd be looking forward to tearing you apart on this particular matter.
but i digress; 2 years ago, before ebay was even remotly approaching the foothills of being a problem in the game was the time period when ectos were at their highest.
but i guarantee you, the changing of hands of ecto on the open market, has a higher influence on the price than people buying/selling to the merchant.
the unintelligent individual thinks that the merchant sets the price of ecto.
W R O N G. the market sets the price; its only when the market is not providing what the player base's opinions of what the ecto market should be, that it then changes. you might say "well, when the ecto buy price is 8k and the sell price is 6k, that means their player to player value (market value) is 7k!" and then i'd countermand "no, thats incredibly short sighted. its because the market WANTS ecto at 7k, that people buy and sell to the merchant (by instinct and numbers) accordingly, to fall into the realm of their acceptance." the median price perceived at the material trader is merely a representation of the strength of ecto in perspect to the market economie's demand of them. plain and simple.
this is EXACTLY the same as in the real world economy...the value of the dollar bill doesnt go up and down because the government sais so; it goes up and down because of the purchases and exchanges made by people reflect upon its ability and power as a median for commerce; and accordingly effects what you can and cant get with said dollar. if the market thinks the dollar value should go up or down, it will do so naturally, due to its increased or decreased useage.
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Originally Posted by Two April Mornings
^Akh, my favorite economist. Especially the last few sentences.
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do so many people really lack a basic understanding of economics?
personally, i dont think its that hard to grasp, but time and time again, i see illfounded comments like that. and time and time again, i feel the need to respond. Gah.
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Originally Posted by Akhilleus
why is it i find myself arguing economics repeatedly?
do so many people really lack a basic understanding of economics? personally, i dont think its that hard to grasp, but time and time again, i see illfounded comments like that. and time and time again, i feel the need to respond. Gah. |
anyway, ecto! Im just farming them for armor, so no selling or buying from me ^.^ The satisfaction of completing the armor by thyself is a great feeling lol.
/corn
H
