26 November 2007 - The Grand Exchange

[Dragonlordjl]

Black berets are listed as 200k? What are they smoking?

[M6c_Magnum]

I haven't really tested out the GE, but I was wondering a few things...

 

 

 

Someone said/confirmed earlier in this thread that, in this situation:

 

If personA is buying Item1 for (let's make up a number) 200gp each and

 

PersonB is selling Item1 for 150gp each,

 

PersonA would buy Item1 from PersonB for 150gp each...

 

 

 

Wouldn't that mean that the seller is always losing?

 

Wouldn't that lead to deflation? Since there is no haggling or compromise allowed, the prices will always lean towards the lower price (which would then be made the normal price and the process would repeat with a higher item)?

 

 

 

Shouldn't there be a compromise as with regular trading? ...

 

Or perhaps an option to check to see if someone is buying something...

 

No person would go to the RSOF, see someone buying Item1 for 200gp and then sell it to that person for 150gp..

 

If you put your item in after the person put in a buying request, you should get the benefit and get extra money (get 200ea)

 

 

 

However, if you put in your item first (for 150ea), and then someone else comes in to buy, he should get the 150ea price (like if someone who was willing to pay 200ea saw someone selling what he needed for 150ea, why would he still pay 200??).

 

 

 

 

 

 

 

Another thing to note, this is possible:

 

Day 2 (second update): Huge deflation - computer-aided and excessive supply

 

 

 

At the moment, there are TONS of people trying to sell (just read this thread, people glorifying the ease to buy, disliking the time/ability to sell). This is from people clearing out there banks, legitimately trying to sell stuff (stuff they would be trying to sell now anyways, without the GE), etc.

 

Now, assuming the pricing system is completely computer based, imagine what the prices will be tomorrow.

 

Jagex has said that, if items do not sell, they will decrease in value so that they can.

 

If, at the moment, the pricing guide is too high for a certain price, this could lead to HUGE problems. Many people will see this price guide and think "OMG I could really get that much money?" and put the item into the GE.

 

Other people will be legitimatley trying to sell this item, and will also put the item into the GE (these people probably wouldn't mind a lower price, just want to sell the stupid thing).

 

 

 

Since the prices are too high, no one will be buying it.

 

 

 

Tonight or tomorrow, when the computer is figuring out tomorrow's price range, it would think (well, I doubt it will think :P), "Wow, there are 50,000 of this item in the store and there are only 500 buyers."

 

 

 

Now, let's HOPE the computer won't calculate this on a % scale (let me explain this idea real fast)

 

ItemA had 30,000 people sell it for X price. There were 25,000 people buying it for X price. 25/30 = 83.3%. If we lower the price a bit, the number of people buying will rise (cheaper price), but the number of people selling will not decrease too much (still reasonable). The prices will balance and it will be an even market.

 

If they did this for the earlier mentioned item (up a bit), to even out 50,000 people selling and 500 buying, there would be a DRASTIC price change... making the item tomorrow hugely cheaper than today.

 

Let's hope this doesn't happen, and also hope there is a governor on the amount of change.

 

 

 

Another way to solve this, would be to have it slowly deflate over some days (so if it needed to go down 10%, it could do 2% per day or so).

 

 

 

 

 

In the very beginning I also explained this user created deflation, by having the buyer always win. This should promote deflation, I think, so that would contribute to the overall downness :P

 

 

 

 

 

 

 

 

 

ANOTHER note:

 

There are some pretty obscure, but rare items out there. I am not talking about discontinued items, but ones that have very specific uses and are perhaps difficult to find (there was a thread in Help & Advice yesterday about a 250k really obscure item).

 

The prices of these items should NOT depend on # sold and # bought.

 

These items are designed so that they are for sale for a while until someone needs it. The price is higher because of the A) rarity and B) specificness.

 

There will be a few of these items in the GE, with not as many buyers, but the price shouldn't deflate to little because of this, they are worth more because of their difficulty to obtain.

 

 

 

 

 

There's some of my thoughts :P

[dragon312]

[MooseHole]

It looks like the prices are currently fluctuating rapidly. They probably keep tweaking it as we go. It'll probably move to daily once the market stabilizes.

[Will H]

It sounds like a fantastic update. Ill post some more tomorrow...

[fusion77]

Horrible update I can sell 2 things in f2p?

 

 

 

Seriously...........

 

 

 

Not to mention all this is going to do is drive the rares market to a nex low, everyone will sell 10k cheaper then the last and the GE will keep lowering the prices.

 

 

 

Sell your rares now while they are high.

 

 

 

And im done skilling, im going to max combat and PK

[Uula]

Great update.

 

The prices just need some fine tuning

[The Observer]

This looks like a great update, I can't wait to try it out! :)

 

 

 

However, it looks like the prices can be manipulated easier. :|

[backstreetboy]

Actually, the items that arent usually sell are difficult to sell on the GE, for example, it wont take the same for me to put a whip and sell it than to put an earth tiara and sell it, the tiara would take hours but the whip would sell quick, to prove this look:

 

 

 

I went to the grand exchange, put 4 tiaras of different types for sale, 50 cooked lobbys and 10k bs, i went to do my life and 5 minutes later i see the bs have been sold, if all works like this iits great, BUT, the tiaras and lobbys have been for over half and hour there waiting.

 

 

 

See?, all depends on the item.

[fusion77]

This looks like a great update, I can't wait to try it out! :)

 

 

 

However, it looks like the prices can be manipulated easier. :|

 

 

 

This is what I fear.

 

 

 

Yea Blue Phat is 550m, however if someone sells for the -5% price. Then another person does the same.....and so on. The system will "update" to the new prices then someone else will come along sell for -5% less. and its a huge cycle. Thus lowering rare prices.

[kunasako]

Proof that the grand exchange works for masses of cheap items (with an explanation :P)

 

 

 

 

 

 

I put the 180k air runes up onto the exchange about 4 hours ago, I was terribly disappointed that for the longest time nothing happened.

 

 

 

Then suddenly my airs started selling uber quickly, in weird amounts, like only 1 air, then 500, even thousands at a time.

 

 

 

My conclusion: trades come at a first come first serve basis. So my airs had a particular place in line, and once my trade was at the top, all airs being bought were coming from my trade.

 

 

 

PS. All in all from the time the first air was sold to the last maybe 3 minutes passed in total. --> People ARE using the exchange even for small items :)

[jessy87]

It looks like the prices are currently fluctuating rapidly. They probably keep tweaking it as we go. It'll probably move to daily once the market stabilizes.

 

 

 

 

 

 

 

on what?

[Jabuli]

 

 

 

My conclusion: trades come at a first come first serve basis. So my airs had a particular place in line, and once my trade was at the top, all airs being bought were coming from my trade.

 

 

 

PS. All in all from the time the first air was sold to the last maybe 3 minutes passed in total. --> People ARE using the exchange even for small items :)

 

 

 

Well that's good to hear. I almost started to cry when none of my salmons or trouts were sold

[jwrm22]

why o why... too many nice updates... the only problem is... i dont play rs anymore... i think this would be realy usefull for buying large amounts of gems, logs or other stuff that sells 1 at the time, if i still played i would have tryed to get like 100k sapphires to train my crafting :XD:

[fusion77]

 

 

 

My conclusion: trades come at a first come first serve basis. So my airs had a particular place in line, and once my trade was at the top, all airs being bought were coming from my trade.

 

 

 

 

 

 

 

 

If this is correct, that is a problem.

[jessy87]

why o why... too many nice updates... the only problem is... i dont play rs anymore... i think this would be realy usefull for buying large amounts of gems, logs or other stuff that sells 1 at the time, if i still played i would have tryed to get like 100k sapphires to train my crafting :XD:

 

 

 

 

 

 

 

any type of gem request, is instant buy... for me at least.

[golangol]

 

 

 

My conclusion: trades come at a first come first serve basis. So my airs had a particular place in line, and once my trade was at the top, all airs being bought were coming from my trade.

 

 

 

 

 

 

 

 

If this is correct, that is a problem.

 

 

 

It is correct (i think, I noticed it too), and it is not much of a problem.

 

 

 

 

 

 

 

 

 

I sold 2m worth of items that would normally sell slowly and painfully, I'm fairly happy.

 

One little problem, which I attribute to teething problems that would be sorted out soon, is that price for some items aren't at the correct market value.

[fusion77]

why o why... too many nice updates... the only problem is... i dont play rs anymore... i think this would be realy usefull for buying large amounts of gems, logs or other stuff that sells 1 at the time, if i still played i would have tryed to get like 100k sapphires to train my crafting :XD:

 

 

 

 

 

 

 

any type of gem request, is instant buy... for me at least.

 

lol I got items I want to sell but I want lower then the min price! lol

[Winner5555]

Looks like a good update, my friend just sold 525k eyes of newts for 150 each in half an hour, when he was selling for 130 ea and sold maybe 100k of them before the update.

[Zantareous]

I like the "thingy" items :P

 

 

 

 

 

 

[jimi2424]

Your items will still be up for sale if you log out?

 

 

 

 

 

I'd assume so but confirmation would be nice

[backstreetboy]

Yes, they do. :thumbsup:

[Zantareous]

Your items will still be up for sale if you log out?

 

 

 

 

 

I'd assume so but confirmation would be nice

 

 

 

Yes, your items stay even when you're logged out.

[Peronix]

Okay, Jagex really needs to fix the GE.

 

 

 

I have 120k nats in the GE for 280 ea, not one has sold. I posted that on the RSOF and I've gotten at least 3 PMs saying that they tried putting up a buying offer for nats and it gets auto-aborted. I tried to put one up myself and it just says "Submitting..." and it won't go up... and it gets aborted when I log out and log back in.

[fusion77]

 

 

 

My conclusion: trades come at a first come first serve basis. So my airs had a particular place in line, and once my trade was at the top, all airs being bought were coming from my trade.

 

 

 

 

 

 

 

 

If this is correct, that is a problem.

 

 

 

It is correct (i think, I noticed it too), and it is not much of a problem.

 

 

 

It will turn out to be a problem. Think about this:

 

 

 

In business you always have someone willing to undercut someone else. Thats how things work. Now say you go to the GE and put in 100k airs for the normal price of 14e. Then I come along and I drop in 1m Air's for the mine price each (12). Well mine start selling....... you get impatient or need money sooner and pull yours out then re-list them for 12e. Now all mine are gone and yours are selling.....well the same thing that happen to you happens to someone else. They put in more at teh min price, now the GE "updates" prices and now normal is 13e and min is 11e. So once again yours are in for 12e and someone undercuts you selling theirs for 11e.

 

 

 

 

 

This will make items hit rock bottom. Someone is always willing to sell for lower.