Grand Exchange = sell only?

[Vincent]

From what I understandof the BTS article

is where you went wrong.

 

 

 

the article states, if you havent read it,

 

 

 

Later in the month, we bring you the 'Grand Exchange'. This new building will be located in the north-west of Varrock and will house a huge new addition to the game: the ability to offer items to buy and sell across ALL servers and to ALL players! You could go to the Exchange and put a full Barrows set up for sale, for example - then, playing Skullball in Canifis, you get a message telling you that they have sold and that you can go to the nearest bank to receive payment! The Grand Exchange will allow you to spend more time on the things you enjoy, providing a less time-consuming alternative to selling your items on the Forums or amongst the crowds of Varrock Marketplace.

 

 

 

and if i had to guess, you probably get a receipt for your goods, then again you might not, which you exchange at the bank. but will wait and see. lots of good updates ahead. =D> people will be able to buy and sell goods at the exchange. across all servers! and to all players! f2p included. sounds huge and makes me wonder how huge the new year update will be.

 

 

 

and i agree with what lux said.

[anonymouse_]

From what I understandof the BTS article

is where you went wrong.

 

 

 

the article states, if you havent read it,

 

 

 

Later in the month, we bring you the 'Grand Exchange'. This new building will be located in the north-west of Varrock and will house a huge new addition to the game: the ability to offer items to buy and sell across ALL servers and to ALL players! You could go to the Exchange and put a full Barrows set up for sale, for example - then, playing Skullball in Canifis, you get a message telling you that they have sold and that you can go to the nearest bank to receive payment! The Grand Exchange will allow you to spend more time on the things you enjoy, providing a less time-consuming alternative to selling your items on the Forums or amongst the crowds of Varrock Marketplace.

 

 

 

and if i had to guess, you probably get a receipt for your goods, then again you might not, which you exchange at the bank. but will wait and see. lots of good updates ahead. =D> people will be able to buy and sell goods at the exchange. across all servers! and to all players! f2p included. sounds huge and makes me wonder how huge the new year update will be.

 

 

 

and i agree with what lux said.

Hopefully you'll be able to buy/sell while offline too :pray:

[icecube]

I don't get what you're trying to say Vincent, unless I'm misinterpreting again.

 

Sseli is talking about the effects of only seeing the sellers prices through the GE and not being able to see what other people are paying or buying, therefore making most prices seller-dependent and discussing the affects it may have on prices of goods.

 

It doesn't say in the article or imply that we will be able to see completed trades to see what other people are actually buying and paying.

[Vincent]

ok i see what you're saying icecube and a lot of it is speculation about prices. on runescape there are huge markets obviously for all goods pretty much and this is one of the great successes(sp) in the game in my opinion. runescape has goods that are in high demand and that makes buying and selling a big part of the game and a great success.

 

 

 

this will make buying and selling much easier i would think for goods that are hard to find a seller and i suppose also make it easier for the sellers that dont like trying to barter prices etc. and finding a buyer. and i would think for most items the selling prices wont deviate that greatly. the only items i would think would have a lower selling price would be discontinued items and those dont make up the bulk of items being bought and sold. if you get what im saying. and i think people should not assume it's going to operate exactly like it does in other games.

 

 

 

one question i'd have is if you had 10k wep poison++; would you have to list it more than 1 time to sell less than 10k or would you have to wait for a buyer for all 10k? or could you sell them in price per?

[The_Sith]

Sort of an outsiders perspective but it seems like having both buying and selling would be an organizational nightmare. Mind you, this is all in game - not on some forum. I think WoW's auction house system (yes, another comparison) works fine the way it is. With RuneScape having it be cross-server, there would simply be no NEED for you to post up something that you wish to buy - you'll simply be presented with ten people selling that item at various prices.

[Duke_Freedom]

*In general, a different and more complex trading system versus an easier and more primitive trading system does not change anything about the prices of products at all. The only thing it changes is market efficiency and, thus, trading margins and profit margins for merchants.

 

 

 

The way I read the announcement I understood that people would be allowed to put buy & sell ORDERS into the system, but it is not completely clear from the announcement, so I guess we have to await the exact mechanics of the Grand Exchange system. I don't really believe it matters all that much whether it allows only sell orders or buy AND sell orders.

 

 

 

* = I suppose there may be some rare exceptions for a variety of reasons though

[Xx_Flare_xX]

Grand Exchange = sell only? (quoting title for no reason)

 

---

 

If all you can do is sell then no-one would use it (unless they can buy from it)

 

 

 

I think Jagex have it sorted :

[Vincent]

yeah i hope there's no buy listings; that would just make it easier for the scammers, merchants, and price manipulators. that's what rsof forums are for... :P oh, that's why this topic was posted. it all makes sense now. :-k

 

 

 

if that's the case, grand exchange = no fake buyers and no fake sellers = less price manipulation.

 

 

 

and for df you are right about how good merchants can survive in any market thing because they will of course find the opportunities and spin things to their benefit etc. so, still a lot of high rollers and wheeler dealers in the game... not the end of merchanting but at least a fair market for the producers and the suppliers.

[maxdout4life]

umm whats the point if you can only sell not buy, thats just dumb

[samcowcow]

I wonder what it will be like..

 

 

 

let's say 10 players selling stuff in each server..

 

 

 

that will be 500+ players selling stuffs every second...

 

 

 

 

 

 

 

is that gonna work???

[Vincent]

they just mean you can only list items that you are selling, not buying.

 

 

 

so no need for buy listings like "buying 5k raw lobster", you'll just look for someone selling 5k raw lobster and buy them or if you're selling 5k lobster you'll just list it and wait for someone to buy it.

[sam10187]

umm whats the point if you can only sell not buy, thats just dumb

 

 

 

I think by sell only, the OP means that you can only offer to sell an item, but not place an offer to buy an item. You will still be able to buy an item for the price it's offered at though.

[vix_sail]

Well I can see where this might turn into something nasty if not thought out well. Personally I'm into merchanting and enjoy the aspect of world-hopping to purchase items at a cheap price (Oversupply) then selling at a profit where the demand is. If not thought out well, certain folks would hire runners ,let's call them and like the stock exchange place buy sell orders.Hmmm. I can see where I could make some nice mulah without having to do much.

[meili]

Well in other games auctions and trades are sellers only so I don't see the problem. I do think there will be a limit to the number of items a single player can sell though. I mean, a player could seel (for example) 20 types of items but in unlimited amounts.

 

 

 

Otherwise it would be a huge server load if noobs put up their whole bank.

 

 

 

I do have one fearless prediction - players will make their own "galleries" of rare/expensive items for display. For example if a certain person wants to show off his phat set he can put it in with an impossible selling price, just so others can see it.

[SwreeTak]

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.

 

 

 

I agree with you. There must be some kind of buying side too. Maybe they just forgot to write about it in the BTS article :P?

[icecube]

umm whats the point if you can only sell not buy, thats just dumb

 

 

 

I think by sell only, the OP means that you can only offer to sell an item, but not place an offer to buy an item. You will still be able to buy an item for the price it's offered at though.

 

Yes he's talking about how you can't make offers (below price) to buy items (that are in the system) nor see offers made by other people and the consequences it may have on prices.

 

 

 

Of course you can buy the items being sold. The title is misleading if you don't actually read and understand what he says.

[Sy_Accursed]

Its pure a simple from where I'm standing.

 

 

 

You go to GE put in your item and price or you go in a search for an item and then buy if you see any prices you like.

 

 

 

Sure you may not be able to post up 1mil gp looking for 5k nats or w/e.

 

 

 

But buying an item through saying so or posting for it on forums is only a by product of not being able to find sales of it. If GE holds every single item every player on every world is selling there will be no need to "buy" items as you can always find a seller.

 

 

 

As why oh why must people go on about buying and selling price?

 

 

 

THEY ARE THE SAME THING

 

 

 

Sure merchants buy low, sell high.

 

 

 

But calling either a selling or buying price is stupid.

 

 

 

Whatever the price is offered for the item is the selling price to the seller,but equally the buying price to the buyer making them the same thing.

[IcedKake]

 

- 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.

 

That already happens =)

 

I agree with the other stuff though

[sphere2008]

wow..

 

icecube and sam are the only 2 that got the point the op was trying to get across #-o

 

 

 

It's about being able to bid on an item that's up for sale (and not just either pay the full listed price or not at all)

 

Just like on e-bay or wow you should be able to bid on an item and get it if you're the highest bidder when the auction ends, or just offer the buyout price and get the item right away, with the seller being able to set a minimum bid (or no minimum bid = start at 1gp) and a buyout price (or no buyout = item only sells when auction ends or if he cancels auction before that).

 

 

 

Sellers would not be able to bid on their own items, and this way other buyers can have a general idea of what other people are willing to pay looking at the current bids on items.

 

 

 

This sort of mimics fally w2 (people buying item xxx gold others trying to sell upto xxx gold) , but without the hassle of standing around in fally all day, and a better way to see who'se selling the cheapest and get fair deals

[Blackspells]

3 hit u is still alive!!! OMG welcome back :-P

[icecube]

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.

[Voldmort0]

That's a very well made point. Hadn't thought of it that way, but you're right.

 

They did indeed give out the idea that it would be all about people basically putting things up for sale at a fixed price and people buying automatically if they were to pay the price posted.

 

That would indeed really mess things up, and sellers would have a great advantage over buyers.. :?

[MooseHole]

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.

That's what market price guides on fansites are for.

 

 

 

One thing you could do (with enough money) is buy all items selling at a certain price or lower, and sell them at 1gp higher than that, and make profit.

 

 

 

Also, if you know the "standard" price, you could stand in the GE and buy any them offered below that, and resell them at the "standard" price. I think this would be a good strategy for bots, which kind of sucks.

[Olbritishchap]

From what they said, you put an item in there for a certain price, and go somewhere else. Then someone goes there, sees the item for sale, pays the gp, and gets it. then you get a message saying it was sold and to go to a bank to get your money.

[Lemeja]

If it was sell only then why couldn't people just use the forums -.-