Grand exchange got strange prices

[Will H]

if you r not happy with the prices stop using the grand exchange...

 

 

 

I think it's fair to say by looking at your stats that you probably do not even know what the grand exchange is. If we are trying to sell something and you have nothing positive to say then please refrain from posting. It burns me up when people who have no idea WTF they're talking about post on someone's thread that is trying to help RS for the greater good. Thank you.

 

 

 

Don't try to judge a player's maturity or knowledge on his/her stats. It's kinda unfair.

 

The point of the grand exchange and it's self correcting prices was that if they were unfair, you should not use the GE to sell/buy those items, then the GE can evaluate what is incorrect by how many sellers there are to how many buyers.

 

Jagex only messed up in that they didn't properly research item prices, which was generally vital in the updates initial success. However, give it a month and the prices will be much more realistic.

 

And if worst comes to worst if an item is seriously under/overvalued, Jagex can manually increase/decrease the price instantly. However, because of the market fluctuations as a result of the introduction of the GE, which are putting heavy pressure on the +/- 5% barriers, it is now virtually impossible to evaluate the true prices until everyone calms down.

 

 

 

I sound like some kind of Jagex representative, but I just ask everyone to calm down and give this update some time. It is changing as we speak towards a realistic goal: A player driven economy.

[Harrington]

I'm finding it very difficult to sell stuff on the GE now.

 

 

 

I leave stuff there (at the lowest possible price), then log out. The following day nothing has sold. I find that upon examination that most of the prices have dropped again, leaving my own items overpriced, therefore not selling.

 

 

 

I wish you could customise your own lowest price rather than what Jagex set for you.

[Emp75]

Gilded Legs r liek 130-190k or something like that, but players buy/sell for 800k-1m area... I think thats way off

[Leesters]

indeed the prices are a bit high or low. they will become right eventually however.

 

 

 

As it's a new release, it'll be a bit iffy to start with but give it a week or two and it'll have stabalised

 

 

 

Yeah, the way its set up, the prices will come down if there's more supply, and come up if theres more demand.

 

 

 

And the way its correcting itself is nice and slow, to make sure it doesn't over correct.

 

 

 

IMO, this is one of the best additions to the game in a long time. I love the way they did it.

 

 

 

Since its new, the prices are still a little out of whack on some items, but the supply and demand will correct itself.

 

 

 

And also since its new, it will take awhile for the swarm of people dumping their bank junk into the system to work itself out.

 

 

 

A year from now, this thing will be perfectly balanced on all items. Even in a couple months things will start stabalizing.

 

 

 

And someone please buy my rune boots. lol.

 

 

 

(Yeah, I'm back. My blog has some pretty funny "first day" stories in it, check it out. Hehe. I'm such a noob again.)

[Maximusa]

Obviously some of the prices are wrong and when things change the prices wont be able to change with them.. untill 3 months later that is when it finally does catch up. #-o

 

 

 

The main problem I dislike about the exchange is the fact many items sell outside the -/+ 5% range. Items like rune knifes (before duel update) would sell anywhere from 2k-4k. In the exchange it is impossible to sell anywhere but around the 3k mark if it was priced correctly. Presuming people still staked and a demand existed.. the skillers wouldnt be able to sell them at all anymore because the price in the exchange is around the 2k mark while it costs around 2.75kish to make them. =/ Sure people sold them at that price which merchanters btw happilly accepted selling them on for 4kea.. but what the hell are skillers meant to of done? They arnt allowed to sell at a respectable brake even price. Not that any of this is relevant anymore because jagex removed staking! But it effects other items too that have large differences in cost. I mean rune ore and bars had large differences in how much people were willing to pay.

 

 

 

Pretending rune ore cost 15k in the exchange, anyone who is wanting to buy at 10k to brake even are simply arnt allowed to do so. Those who is wanting 99 smith and are willing to pay 20kea rune ore are also not allowed. =/ Its too restricted big time. You MUST pay 14.53254342 - 16.3243242 gp if you want ore from the exchange. (Made up example) They are forced to trade outside the exchange making it pointless.

 

 

 

Here something I found funny when I was at the exchange. I got alot of junk runes I wish to sell that I truly dont give an [wagon] how much profit I make but wish to get rid of them. In one I had 30k laws that had been sitting there for around 2-3 days. I was changing something at the time and suddenly noticed I was finally selling them! It was like this..

 

 

 

 

 

Sold 5k runes

 

Sold 300 runes

 

sold 1 rune

 

sold 2k runes

 

sold 10k runes

 

etc etc

 

 

 

It all happened very quickly after 2-3 days of no activity! Obviously I had reached the front of the queue *does a jig* I thought it would be interesting to see how long it would take to start selling the same item at exactly the same price again so I put up another 1k of the runes. It took about another 2-3 days untill they sold rofl. Massive backlog of sellers. :XD:

 

 

 

I love the exchange for how much money I am making from my junk and excess items btw! I wont sell too' low but willing little bit of loss to get rid of all this rubbish thats been getting dusty for last few years. :thumbsup:

[qeltar]

 

The main problem I dislike about the exchange is the fact many items sell outside the -/+ 5% range.

 

Yep. Stupid price controls like these don't take into account the fact that what's worth 3k to one person could be worth 1k or 10k to someone else.

 

 

 

I'm particularly amused to continue to see more of my predictions for this fiasco coming true every day. There are lots of items that are still at the same wrong prices that they've been at since Monday -- no change. I am also now noticing items that for several days were locked at the low end of the range with tons of sellers and no buyers, now locked at the high end of the range with lots of buyers and no sellers.

 

 

 

This system flatly doesn't work.

[monte]

 

Yep. Stupid price controls like these don't take into account the fact that what's worth 3k to one person could be worth 1k or 10k to someone else.

 

 

 

I'm particularly amused to continue to see more of my predictions for this fiasco coming true every day. There are lots of items that are still at the same wrong prices that they've been at since Monday -- no change. I am also now noticing items that for several days were locked at the low end of the range with tons of sellers and no buyers, now locked at the high end of the range with lots of buyers and no sellers.

 

 

 

This system flatly doesn't work.

 

 

 

I feel like at this point I am just reading the same posts from you over and over. Can you give me a timeframe as to when you expect your doom and gloom GE posts to stop? I really wish you'd go back to focusing your efforts on writing cool articles like your in-depth analysis of the barrows.

 

 

 

'Fiasco'....talk about hyperbole! Drama Queen