26 November 2007 - The Grand Exchange

[aafftteerr]

With the building being place so north, its a very quick walk from the tele spot to the fairy ring on the other side of the wall :lol:

[jondea0]

its very useful for things bought alot ie, bs, d hide stuff like that. but the problem is people have to advertise their prices and it totaly defeats the object of it o.0

 

 

 

they need to change it, i cba explaining it just look at my post in bugs and suggestions O:)

 

(we have cookies)

[tmmycsh73]

I like the update!!! Instead of standin around in a bank tryin to buy something I need or sell something I've got I can just put my stuff up for sell or tell the exchange what I want to buy and then go off and be productive somewhere. When my stuff sells or when the exchange buys what I wanted, they alert me and I can go to ANY bank and collect, not just back to the exchange.

 

 

 

Now the only thing I don't like is no real freedom on the pricing. EX. I had 130 steel pl8s in my bank I wanted to put up for sale. When I put them in the exchange the minimum they would let me charge was 1500gp. Now who in their right mind is gonna pay that much? You can only high alch for 1200 and if you wear varrock armour you get an avg of 1400 from the armour shop in varrock.

[Duke_Freedom]

Effect of this update on the games economy: nihil to non-existant. Still a good update though and seems to be implemented quite neatly, although I think some variables will require some fine-tuning.

[qeltar]

Price controls don't work. Jagex apparently refuses to learn from the mistakes made by governments throughout the centuries and insists on repeating them. And the same things will happen now that have always happened.

[cowmasta13]

One of the things that I really don't like Jagex doing is plonking down big buildings, like the Grand Exchange in the middle of good forested/open land and maybe even moving older areas aside. Really, the land in Runescape is just getting too damn crowded now with new buildings. Other examples are the Tower of Life, Witchaven, the Barbarian Assualt building and the Warrior's Guild. Jagex really need to expand the land. The actual Grand Exchange looks good though.

 

 

 

I knew I was not alone for all this time! Thank you very much.

 

 

 

 

 

How to solve this with GE update?: Make a portal access point in both of the Varrock banks that teleports you to "a new land" were grand exchange is.

 

 

 

I don't like that idea...I know this isn't supposed to be reality, but portals popping up for many updates would make the land seem too fragmented. Even though there are less trees now, the land still flows together and gives you a picture of the RS world.

[qeltar]

Effect of this update on the games economy: nihil to non-existant.

 

 

 

I wouldn't be too quick to conclude that.

 

 

 

But yeah, Jagex made this so restrictive that it is going to be another update that doesn't live up to its full potential.

[TeeBeaun]

People are just over reacting, as they always do. This update seems like its going to work just fine. I sold my chinchompas right away, as soon as i put them up for sale. The prices will be fine, they dont fluctuate that much anyways.

[shakaz]

Price controls don't work. Jagex apparently refuses to learn from the mistakes made by governments throughout the centuries and insists on repeating them. And the same things will happen now that have always happened.

Sounds like a disgruntled merchanter to me. What do you think tariffs, taxes, subsidies, etc. are? Forms of price control that every government uses.

 

 

 

 

 

The fact that it creates a link between f2p and p2p is probably the best thing about it.

[berbatovsky]

Price controls don't work. Jagex apparently refuses to learn from the mistakes made by governments throughout the centuries and insists on repeating them. And the same things will happen now that have always happened.

 

 

 

They may not work in real life (although I'm sure you know many industries price fix, I'm looking at you AIRLINES) but this is a game with a much simpler economic model. The price ranges are what people traded at before anyway with only a few exceptions and without this we'd have people selling willow logs for 15k each and buying Santas for 10 gp. You CANNOT give the Runescape community this sort of thing and then allow them freedom to ask whatever price they want because they are too immature (for th most part) to not be greedy idiots about it.

 

 

 

Edit:I think you'd be complaining if it was the other way round as well tbh, you seem to be disgruntled with Jagex at the moment and have lost your objectivity somewhat.

[wakka102]

Am I just missing it or is there no way to just browse what is being offered for sale without putting in a buy offer?

 

You are correct, there is no browsing possible. You can place a sell offer or you can place a buy offer. And the system will match the offers and make the transaction.

 

 

 

 

This is going to be a big problem.. at least at first and perhaps beyond that.

 

 

 

Suppose I offer to sell a widget at 10k and someone else offers to buy at 9k. We might both be willing to compromise at 9.5k but right now neither of us can find out that the other even exists.

That is what will maintain the balance within the GE. If you actually wan't to get you're item sold at a reasonable rate of time then you will put a reasonable price, if you put the price very high nobody is going to buy it, therefore it will entice people to put it at the medium or lower price.

[jessy87]

One of the things that I really don't like Jagex doing is plonking down big buildings, like the Grand Exchange in the middle of good forested/open land and maybe even moving older areas aside. Really, the land in Runescape is just getting too damn crowded now with new buildings. Other examples are the Tower of Life, Witchaven, the Barbarian Assualt building and the Warrior's Guild. Jagex really need to expand the land. The actual Grand Exchange looks good though.

 

 

 

I knew I was not alone for all this time! Thank you very much.

 

 

 

 

 

How to solve this with GE update?: Make a portal access point in both of the Varrock banks that teleports you to "a new land" were grand exchange is.

 

 

 

I don't like that idea...I know this isn't supposed to be reality, but portals popping up for many updates would make the land seem too fragmented. Even though there are less trees now, the land still flows together and gives you a picture of the RS world.

 

 

 

 

 

 

 

i agree, it was a nice space however the placment is nice.

 

 

 

 

 

but i do think we need new lands and islands and continents.

[spooferfish]

1st post GTW!!1!!! sounds good, i'm on my way there

 

 

 

not first post..try again.

 

 

 

 

 

I love the Grand Exchange, I logged in, went and posted some diamond ammys, skele top, steel arrows, and some seeds. Some of the seeds sold instantly (36k for snap :o) , so I put some differant ones up and go back to edgeville and fm, and sell my diamond ammys...I love it!! :D

[Hydraides]

Will these not stop or at least slow down increase price in rares

[MooseHole]

Am I just missing it or is there no way to just browse what is being offered for sale without putting in a buy offer?

 

You are correct, there is no browsing possible. You can place a sell offer or you can place a buy offer. And the system will match the offers and make the transaction.

 

 

 

 

This is going to be a big problem.. at least at first and perhaps beyond that.

 

 

 

Suppose I offer to sell a widget at 10k and someone else offers to buy at 9k. We might both be willing to compromise at 9.5k but right now neither of us can find out that the other even exists.

That is what will maintain the balance within the GE. If you actually wan't to get you're item sold at a reasonable rate of time then you will put a reasonable price, if you put the price very high nobody is going to buy it, therefore it will entice people to put it at the medium or lower price.

Similarly, if you want to make sure you buy something fast instead of waiting all day for it, you'll offer a higher price than the minimum.

 

 

 

5% really is a huge range considering how many people are using/will use this. Prices will stabilize over time just as they did in forums.

[Mil]

Nice update, a lot of Jmods around. Was speaking to Mod Jay H, just generally asking if anyone was having problems and stuff.

[qeltar]

Price controls don't work. Jagex apparently refuses to learn from the mistakes made by governments throughout the centuries and insists on repeating them. And the same things will happen now that have always happened.

 

 

 

They may not work in real life (although I'm sure you know many industries price fix, I'm looking at you AIRLINES) but this is a game with a much simpler economic model. The price ranges are what people traded at before anyway with only a few exceptions and without this we'd have people selling willow logs for 15k each and buying Santas for 10 gp. You CANNOT give the Runescape community this sort of thing and then allow them freedom to ask whatever price they want because they are too immature (for th most part) to not be greedy idiots about it.

 

 

 

Edit:I think you'd be complaining if it was the other way round as well tbh, you seem to be disgruntled with Jagex at the moment and have lost your objectivity somewhat.

 

 

 

Doesn't work in real life, online life or any other life. Price controls are an attempt to subvert the forces of supply and demand, and that in turn is an effort to control people. People will always respond to such attempts and thwart the system by using alternatives.

 

 

 

It has happened every time in the past, and it will happen here as well. No, I'm not a merchant, but this update actually HELPS merchants by making the market even more inflexible than it was before.

[berbatovsky]

Will these not stop or at least slow down increase price in rares

 

 

 

It depends really, it actually makes price manipulation a lot easier, all the merchs can set up a cabal buying and selling too each other at maximum price and slowly shift the prices upwards, although while doing so they run the risk of others purchasing their rares.

[wakka102]

I have one question, lets say I were to offer to buy something at 100k each (the maximum of the 5%) but someone was selling for less say at 80k (the minimum of the 5%) would the item still be sold to me at this reduced price? I think if someone offers the higher 5% then it should also get them all the deals lower than this until it meets the item quota that was asked.

 

 

 

Will these not stop or at least slow down increase price in rares

 

 

 

It depends really, it actually makes price manipulation a lot easier, all the merchs can set up a cabal buying and selling too each other at maximum price and slowly shift the prices upwards, although while doing so they run the risk of others purchasing their rares.

This is the reason why its not done in a forum style, you cannot pick who you buy or sell from, the trades are done anonymously.

[Mil]

I have one question, lets say I were to offer to buy something at 100k each (the maximum of the 5%) but someone was selling for less say at 80k (the minimum of the 5%) would the item still be sold to me at this reduced price? I think if someone offers the higher 5% then it should also get them all the deals lower than this until it meets the item quota that was asked.

 

 

 

Yeah, you buy for the lower price offered by the seller.

 

I'm pretty sure.

[berbatovsky]

Price controls don't work. Jagex apparently refuses to learn from the mistakes made by governments throughout the centuries and insists on repeating them. And the same things will happen now that have always happened.

 

 

 

They may not work in real life (although I'm sure you know many industries price fix, I'm looking at you AIRLINES) but this is a game with a much simpler economic model. The price ranges are what people traded at before anyway with only a few exceptions and without this we'd have people selling willow logs for 15k each and buying Santas for 10 gp. You CANNOT give the Runescape community this sort of thing and then allow them freedom to ask whatever price they want because they are too immature (for th most part) to not be greedy idiots about it.

 

 

 

Edit:I think you'd be complaining if it was the other way round as well tbh, you seem to be disgruntled with Jagex at the moment and have lost your objectivity somewhat.

 

 

 

Doesn't work in real life, online life or any other life. Price controls are an attempt to subvert the forces of supply and demand, and that in turn is an effort to control people. People will always respond to such attempts and thwart the system by using alternatives.

 

 

 

It has happened every time in the past, and it will happen here as well. No, I'm not a merchant, but this update actually HELPS merchants by making the market even more inflexible than it was before.

 

 

 

What if there were no restrictions though? The GE would become an unused feature because too many people would be unreasonable about what they were willing to spend/sell for. If you don't like the ranges don't use the GE, simple.

 

 

 

Edit: recently I've felt like Jagex is aiming all its updates at me, I HATE standing in a bank selling stuff for 30 minutes, the GE means I don't HAVE to. You have a choice, if you just want to save yourself some time, stick your goods in the GE and go do something else although you are slightly hamstrung by the price ranges. If you hate the price ranges sell on forums or in banks. Jagex isn't trying to FORCE prices on anyone they are trying to give people an OPTION. This is not real life, very few people will be disgruntled at this price fixing and as there are already 2/3 other options no one should see this as Jagex taking away our self determination, its just an attempt at stream lining the buying/selling experience.

[qeltar]

What if there were no restrictions though? The GE would become an unused feature because too many people would be unreasonable about what they were willing to spend/sell for.

 

 

No, if it were a really true free market, then people who offered to sell for too much wouldn't sell, while those who offered for less would get buyers.

 

 

 

Just how it works on the forums and w2 markets right now.

 

 

 

Besides, there's a lot of middle ground between no restrictions and the current ridiculous limits.

 

 

If you don't like the ranges don't use the GE, simple.

 

 

 

That's childish. This is a discussion forum, and I'm discussing a major flaw with a new update.

[wakka102]

To the people saying that you can't browse is a problem, can't you see how that would totally screw over the prices?

 

 

 

since the 5% is set by players whats to say that "Joe" puts a phat up for the high end of the 5% and "Ted" his best friend buys it for that higher price, they get a large group of merchants together to do this with a single color of hat over a few weeks, Jagex's system would read this as an increase in the price of this item causing the base to go up, they continue to do this and price just keeps going up and up until its some absurd amount that nobody will pay. if this occurs then the GE would stop being used because all of hte market prices went up to some really ridiculous amount.

 

 

 

This is simply an example, it could be done with any item if they had the ability to know who they are buying/selling from.

 

 

 

As far as I can see, this update is currently flawless, I love it :D

[cowmasta13]

Something I don't understand with this update is that seeing as so many people are selling all at once, there will always be someone selling at a lower price than you. Since there are no merchanters to push the price up, won't the prices just go into a free fall now?

[berbatovsky]

What if there were no restrictions though? The GE would become an unused feature because too many people would be unreasonable about what they were willing to spend/sell for.

 

 

No, if it were a really true free market, then people who offered to sell for too much wouldn't sell, while those who offered for less would get buyers.

 

 

 

Just how it works on the forums and w2 markets right now.

 

 

 

Besides, there's a lot of middle ground between no restrictions and the current ridiculous limits.

 

 

If you don't like the ranges don't use the GE, simple.

 

 

 

That's childish. This is a discussion forum, and I'm discussing a major flaw with a new update.

 

 

 

1) thats not how it works on the forums/world 2, peopel who are desperate pay high prices because they have no choice.

 

 

 

2) define ridiculous (seriously the ranges are what players used anyway so I don't know wth you're talking about)

 

 

 

3)Its not childish its an option, I'm not talking to 'you' Qeltar with that point I'm talking to 'you' the people who are unhappy(note so far you are the only person really, really unhappy).