26 November 2007 - The Grand Exchange

[krisc6]

omg i love this update and you know what teh best part of this update is?you can buy sets of any barrows armour,treasure trails armour,dragon armour smithable armour in a flash!woohoo for rockshell!

[casthewiz]

I'll be sticking to world 2 for merchanting, i'll use the grand exchange for skilling supplies. Still don't think that 6 is quite enough, maybe 10 would be better? And better yet, why not have a mini version of this at Seers bank and Catherby, after all, Catherby is the fishing mecca, and Seers is Varrock's bank for P2P

[jessy87]

onyx gem - 3,285,000 tokkul(some1 told me 3.8m i dont recall and the message is gone now.)

 

 

 

 

 

even with karamja gloves... uh arent they supposed to lower shop prices?

[idunedain]

The prices items sell at are therefore not set by Jagex but by the players themselves! We are keen to keep a player-driven economy, so the prices are worked out using the supply and demand rules above. We will only intervene as a last resort, and only if we think price manipulation is going on, although the system has lots of safeguards to prevent that.

 

Basically it says the Jagex staff could intervene if the market goes into a direction they don't like...

[qeltar]

And a J mod on the RSOF just called this system CAPITALISM? :lol:

[qeltar]

People are now standing around calling out what they are selling on the exchange because nobody can browse. Silly.

[Arcane_Rift]

The price controls already prevents the 'second bank account' abuse -- in theory.

 

 

 

The problem is that right now, you put things up and because this is not a free market, nobody buys. And then you're stuck, because you can't browse what people want to sell for.

 

 

 

I guess Jagex didn't learn anything from the USSR.

 

 

 

 

 

From what I understand the price is adjusted daily based on if a specific item was bought or sold at a higher or lower market price. If item x wasn't sold at all, then the price will be lowered the next day to compensate for no one buying it in an attempt to breath life into the market for item x. Eventually over time the prices will even out and a perfect market medium will be formed on each item.

 

 

 

Also, if you are selling item x for 1,000 and someone is buying item x for an offer of 1,500 then you will buy the item for 1,000 from that person. You may pay varying prices up to 1,500 in order to get your full quantity you are in search for but you will never pay over the 1,500 limit you set.

[jessy87]

People are now standing around calling out what they are selling on the exchange because nobody can browse. Silly.

 

 

 

 

 

thanks for the news update....

[db300]

In school right now so I can't check it out. :?

[Wachtwoord]

I'm having mixed feelings about this update. You can't browse. It's pretty good besides that though, I've already sold quite a lot of junk items. :D

[Ginger_Warrior]

A long needed update Jagex. Great work. :

 

 

 

The cap seems a wee bit tight though. ATM I think yew logs stand at about 390gp each. If a person wanted to raise that to 410gp (which is a fairly moderate increase), they would be able to do since that goes over 5%. I think 7.5% would be more appropriate. Then again, it safeguards buyers, so that stops the RS economy going wildy out of control.

 

 

 

Apart from that minor point, nice update.

[Dragonlordjl]

People are now standing around calling out what they are selling on the exchange because nobody can browse. Silly.

 

 

 

Way to go, Jagex, logic is your strongsuit!

 

 

 

Oh, and it's quite vexing that one can bring cats into the area.

 

 

 

This update, imo, won't change much. It'll be good for getting rid of harder to sell items, but for most transactions, I think that people will still use World 2 once the novelty of this dies down.

[qeltar]

 

From what I understand the price is adjusted daily based on if a specific item was bought or sold at a higher or lower market price.

 

 

If it's only adjusted daily then this update is a failure. Prices fluctuate more quickly than that, and nobody is going to bother standing around for weeks to sell items.

 

 

Also, if you are selling item x for 1,000 and someone is buying item x for an offer of 1,500 then you will buy the item for 1,000 from that person. You may pay varying prices up to 1,500 in order to get your full quantity you are in search for but you will never pay over the 1,500 limit you set.

 

 

 

The problem is that right now I am trying to sell items for the lowest possible price and nobody is buying. The trading ranges are too narrow.

[Peronix]

This kind of bites. I've had 115k nats up for 290 ea for like an hour now and not ONE has sold.

 

 

 

This place does seem good for hard to sell items, though.

[Nul_Oblivion]

There's a few things I don't quite understand yet:

 

 

 

When you put up one or multiple items for sale in the GE, can you go off and do your own thing without having to wait at the GE for someone to buy? In other words, will the game let you know when someone has purchased something from you no matter where you are?

 

 

 

Also, how does JAGeX determine which player gets the sale? For instance, say there are hundreds of people selling Dragon Longswords at the exact same price and there's one person that wants to buy one at the time. Which one of those one-hundred sellers gets the sale? :-k

[Mirror]

Well I put some things on the market and I am buying one thing, let's see how it works out.

[qeltar]

 

When you put up one or multiple items for sale in the GE, can you go off and do your own thing without having to wait at the GE for someone to buy? In other words, will the game let you know when someone has purchased something from you no matter where you are?

 

 

Yes.

 

 

Also, how does JAGeX determine which player gets the sale? For instance, say there are hundreds of people selling Dragon Longswords at the exact same price and there's one person that wants to buy one at the time. Which one of those one-hundred sellers gets the sale? :-k

 

 

 

Only they know that one. :) Maybe first come first served?

[bored321]

No pin on GE is a bit bad, aint putting up my rares until theya add it....

[ProZac_Rehab]

great update, only 1 downside imo.

 

 

 

if you get hacked while having expensive items in exchange, you can lose these... i believe there should be a bank pin on this system as well...

 

 

 

Good job jagex =D>

[Voldmort0]

Limited range prices :o

 

Lets hope it avoids quite alot of scams and rip offs. Though there will still be alot (probably most people) selling it face to face I'm sure.

[chris1216]

 

From what I understand the price is adjusted daily based on if a specific item was bought or sold at a higher or lower market price.

 

 

If it's only adjusted daily then this update is a failure. Prices fluctuate more quickly than that, and nobody is going to bother standing around for weeks to sell items.

 

 

Also, if you are selling item x for 1,000 and someone is buying item x for an offer of 1,500 then you will buy the item for 1,000 from that person. You may pay varying prices up to 1,500 in order to get your full quantity you are in search for but you will never pay over the 1,500 limit you set.

 

 

 

The problem is that right now I am trying to sell items for the lowest possible price and nobody is buying. The trading ranges are too narrow.

 

 

 

Daily adjustments aren't a bad thing since prices for most items won't be dynamic enough to have huge fluctuations in a single day. In a few days, prices will drop to where the market actually is at and trades will flow smoothly. If you're that impatient, you can sell on the forums.

[Blob]

 

Also, how does JAGeX determine which player gets the sale? For instance, say there are hundreds of people selling Dragon Longswords at the exact same price and there's one person that wants to buy one at the time. Which one of those one-hundred sellers gets the sale? :-k

 

 

 

Only they know that one. :) Maybe first come first served?

 

presumably it would go to the person who has been waiting the longest for the sale, yes. You could probably test it if you got ~10 people and bought/sold some obscure (to ensure nobody else interferes with the sales) items and monitored the results

[Arcane_Rift]

I agree it is going to take some items a while to find the normal market average, i.e. dragon bones, super def pots, cads.

 

 

 

Once they do though, it will make trading them much easier, however, until these items reach that medium then you will need to sell them through pre-GE ways of trading.

 

 

 

Also, 24 hours is definitely a long time for price updates, every 4 - 6 hours woud be a better to help stabilize the market faster and keep up with the time zone changes.

[Arthu]

 

When you put up one or multiple items for sale in the GE, can you go off and do your own thing without having to wait at the GE for someone to buy? In other words, will the game let you know when someone has purchased something from you no matter where you are?

 

 

Yes.

 

 

Also, how does JAGeX determine which player gets the sale? For instance, say there are hundreds of people selling Dragon Longswords at the exact same price and there's one person that wants to buy one at the time. Which one of those one-hundred sellers gets the sale? :-k

 

 

 

Only they know that one. :) Maybe first come first served?

 

 

 

Why do I think its going alphabetically?

 

At first I got 100 chefs hats, now I am not getting any :-k

[Dragonlordjl]

 

From what I understand the price is adjusted daily based on if a specific item was bought or sold at a higher or lower market price.

 

 

If it's only adjusted daily then this update is a failure. Prices fluctuate more quickly than that, and nobody is going to bother standing around for weeks to sell items.

 

 

Also, if you are selling item x for 1,000 and someone is buying item x for an offer of 1,500 then you will buy the item for 1,000 from that person. You may pay varying prices up to 1,500 in order to get your full quantity you are in search for but you will never pay over the 1,500 limit you set.

 

 

 

The problem is that right now I am trying to sell items for the lowest possible price and nobody is buying. The trading ranges are too narrow.

 

 

 

Daily adjustments aren't a bad thing since prices for most items won't be dynamic enough to have huge fluctuations in a single day. In a few days, prices will drop to where the market actually is at and trades will flow smoothly. If you're that impatient, you can sell on the forums.

 

 

 

The whole point of this update was to expedite and facilitate trading. It succeeded in some areas but failed in most others. People will still primarily use World 2 and the forums to buy/sell.