Grand Exchange = sell only?

[TheAncient]

There's much speculation going on with the Grand Exchange, and here's some (educated) guessing that I'm adding to the mix: (Read KB to see if this makes sense)

 

 

 

From what I understand of the BTS article, you submit an item and selling price. It says nothing about making offers to buy things. So it isn't like trading stocks online, where you have a buy order side and sell order side; the GE may only reflect selling and not buying.

 

 

 

What does this mean?

 

- Prices on the GE will reflect selling prices and not buying prices, meaning prices will be inflated (although degree of inflation depends on current supply; obviously flax won't go up much due to this inflation)

 

- There will be more information available regarding sellers than information regarding buyers; sellers would generally have the upper hand in sales because buyers don't know what other buyers are offering.

 

- Sellers who offer low prices will be taken up quickly, so most of the prices you see on the GE will reflect the higher end of seller's offers.

 

 

 

[hide=ice cube's example]

I don't think people get it >_>

 

 

 

He's not talking about adding another option to let people put up GP to buy items (I thought so too at first) or something else.

 

 

 

He's talking about this:

 

 

 

Player A is selling 1000 Item X for 500 gp each (let's say this is the a bit below standard price).

 

There are other players selling at that price too, and others selling at 550 gp each (let's say a bit above normal)

 

 

 

Player B comes and buys all Item X's for 500 gp each. Then the lowest price in the Grand Exchange for that item is 550 each.

 

 

 

Player C comes and sees them for 550 each and believes that is the price for them, because he never saw anyone buy them for 500 each. He also cannot make a lower bid on the item if he did know that some people sell for 500 each, because prices are firm.

 

 

 

Therefore, the Grand Exchange will typically only reflect the sellers price, not what people are trying to buy for. The question is how does that affect prices? Will this occur often enough that prices may be inflated to the seller's price, or will there be enough people looking for quick GP to even it out.

 

 

 

PS: Correct me if I'm wrong sseli.

[/hide]

[Lenin64]

Well, see, in order to sell something somebody has to buy it....

[@Dan3HitU]

Well, see, in order to sell something somebody has to buy it....

 

I can't believe the person above you posted it and even HIGHLIGHTED the question AND the answer to his own question.

 

 

 

I know it wasn't a direct question, but it was a statement question kinda thing.

[icecube]

>_> nevermind

[Thus]

There could probably be a buying side. You put up your gold, your request, then see if it follows through when someone sells it.

[Kill_Thomas9]

I can't imagine they would only make a selling side. I'm sure they have thought of all the consequences of what that could do.

[Napalm]

Well, the GE will help to get rid of scams, but probably people will find a way to scam anyways through it.

[TipIt]

If im not mistaken, this system is the same as WoW's, it's basically flawless if im not mistaken :P

[Pan_Nx]

I can't imagine they would only make a selling side. I'm sure they have thought of all the consequences of what that could do.

 

Im agreeing with this guy, i doubt it is sell only, i bet there is a way where you can post up what your buying, or i hope at least.

[Bballchamp23]

That would be hard to figure out, because what if your bank was full?

 

Just having Selling will work just fine, and it won't completely ruin merchanting if theres no buying :P

[Peronix]

I'd be perfectly content with a sell-side only. People willing to sell their items would probably all put them up in the GE, and if anyone is selling what you want it will be available to purchase. Although, it would be nice if sellers could immediately sell their items to willing buyers with a buy-side system. I guess we'll just have to wait and see what Jagex does.

[Torlen]

I know people are sick of the WoW comparisons, but its only a selling side there and it works just fine. Prices on everything are basically constant.

[silvermist82]

i just hope the exchange thing is members only, it would be an exellent upper hand for us paying folks

[Ginger_Warrior]

A market is driven by a demand, in other words, people willing to buy goods in the first place. To make a "sell" option only would be completely oblivious to that fundamental fact to economics.

 

 

 

For this to function to any efficiency, there surely has to be a "buy" option. :|

[reaper88888]

Ehh, awesome update, but tbh I'm looking forward to Mechscape..

 

This'll be nice though. Who knows weither there'll be a 'sell' option :|

[Lux_Tenebrae]

From what I got from the post, it would be a place to list items you want to sell and to access items that others want to sell. It's two way. I don't however see how your bank space would have anything to do with it. A full bank can't stop you from buying things from a store, why would this be any different?

 

Or do I misunderstand?

[icecube]

From what I got from the post, it would be a place to list items you want to sell and to access items that others want to sell. It's two way. I don't however see how your bank space would have anything to do with it. A full bank can't stop you from buying things from a store, why would this be any different?

 

The item would be transfered to your bank after a transactions similar to how they said you pick up your money. But the question is, does it go straight into your bank or is it waiting at the bank for pick up?

[o_knames]

First off, there are a lot of ways they could do the Grand Exchange.

 

 

 

I don't see the problem with doing sell side only. Sellers bring the supply, buyers bring the demand. If someone's looking to buy 100k gold bars, those bars aren't going to conjure themselves unless somebody has them to offer, which presumably they would do at the Exchange.

 

 

 

It's not like the forums are going to disappear for people looking to buy. Not to mention the Assist System might possibly cover people willing to collect raw materials, although that is not entirely likely.

[RoswellCrash]

He doesn't mean like that Lenin, he means there's no other side where you can say like "Buy Natures - 1k - 300 Each" and let people sell the item to you through the great exchange.

 

 

 

That helps because at first glance I thought the same thing as Lenin lol

 

 

 

Its more of just selling type of thing, meaning the forums will be used for more asking then selling.

[salim123]

good point thats what i said when i was talking to a friend in rs today

 

 

 

prices may inflate and deflate alot during the first little while while people get used to it

[Lux_Tenebrae]

From what I got from the post, it would be a place to list items you want to sell and to access items that others want to sell. It's two way. I don't however see how your bank space would have anything to do with it. A full bank can't stop you from buying things from a store, why would this be any different?

 

The item would be transfered to your bank after a transactions similar to how they said you pick up your money. But the question is, does it go straight into your bank or is it waiting at the bank for pick up?

 

The post says nothing about an item being transfered into your bank. When you buy it, you buy it. Just like any other shop. The only time the bank is involved is when you sell an item. "you might get a message telling you that they have sold and that you can go to the nearest bank to receive payment" As i understand it, you go get your money from the bank, it's not put into your account, you go get it and do what you will with it.

[icecube]

Hmm, since I didn't fully read it I replied about the wrong thing. :wall:

 

 

 

I was talking about a separate aspect of the Grand Exchange system where you advertise what item you want to buy, and leave it instead of looking for the items.

 

 

 

So he's talking about how the selling-only aspect of GE will affect the price of items?

 

 

 

Nevermind then :), but yeah you'd probably get the item in your inventory.

[TheAncient]

Hmm, since I didn't fully read it I replied about the wrong thing. :wall:

 

 

 

I was talking about a separate aspect of the Grand Exchange system where you advertise what item you want to buy, and leave it instead of looking for the items.

 

 

 

So he's talking about how the selling-only aspect of GE will affect the price of items?

 

 

 

Nevermind then :), but yeah you'd probably get the item in your inventory.

 

 

 

Who ever said I was a "he" :anxious:

[icecube]

Who ever said I was a "he" :anxious:

 

I assumed by your avatar >_>

[klankaos]

Who ever said I was a "he" :anxious:

 

I assumed by your avatar >_>

 

 

 

That looks like a girl to me. =P

 

 

 

Anyways, ontopic: I think that no matter whether there's a sell-only side or not, this'll completely even market prices. I mean, nobody's gonna put up their nature runes for sale at 350ea when they're being sold for 330ea by that guy over there, are they? If they are, they're obviously completely mental. This will mean completely even market prices across the board - no more price competitions.