Grand Exchange Your Pros and Cons

[Aquashock]

Pro- Good update.

 

 

 

Con- 50 topics about it.

 

 

 

I guess spam is funny :roll:

 

 

 

Pro -> You don't have to be on to sell/buy an item(s)

 

 

 

Con -> Stingy price range (no one buys molten glass for 1.4k ea :x it wont even let me go down to 900 ea which i wanted to sell it at.)

[kdb148]

 

Cons:

 

 

 

Prices seem to be dropping rapidly as everyone sells at the lowest price in order to get the quickest deal.

 

 

 

This tells me that things were way overpriced, the market was easy to manipulate, and buyers were willing to overpay. You should keep in mind that a lot of people are willing to sell low just to complete sales to test out the new update. Things will stabilize before long, and begin to reflect what items ought to actually be worth.

[Lenin64]

Pros: Well, lets put it how a conversation between my friend and I went:

 

Me: Wow, I just instantly bought a bunch of sharks and p pots. This thing is so efficient!

 

Friend: I know, for real

 

Me: But..Jagex did it

 

Friend; I know! :shock:

 

so, ye,a efficiency.

 

Con: it tells me my stuff is updated when it isn't

[hicky_mouse]

People keep saying the prices are decreasing, and that is a con. Is it really that bad to have deflation? If everything costs less to be, does it matter if you have less money? As well, it makes somethings easier to get.

 

 

 

Say you want an obby cape. Before, it would cost you x gp for the chaos runes that you would trade for the tokkul. Now it costs you y(y being less money than x) for all of your chaos runes. Of course, this won't work if Jagex has changed the system for pricing tokkul, which I don't believe they have.

[alcoolj]

 

Cons:

 

 

 

Prices seem to be dropping rapidly as everyone sells at the lowest price in order to get the quickest deal.

 

 

 

This tells me that things were way overpriced, the market was easy to manipulate, and buyers were willing to overpay. You should keep in mind that a lot of people are willing to sell low just to complete sales to test out the new update. Things will stabilize before long, and begin to reflect what items ought to actually be worth.

 

 

 

This tells me that people in RS are quite willing to sell at a lower than ÃÆââââ¬Å¡Ã¬Ãâ¹Ãâmarket valueÃÆââââ¬Å¡Ã¬Ã¢ââ¬Å¾Ã¢ to expediate the sale of items. A rune scimmy drop from a fire giant is essentially a free item, so any price that can be gained from its sale is pure profit. Most will sell for the lower end of market price (23k), rather than the traditional common price of 25k. Especially now through the GE as they know that the lowest price items sell first.

 

 

 

Almost everything imaginable for sale is at rock bottom prices at present, especially pots, food, weapons.

 

 

 

Some items are high in prices (yews) but this occurred prior to GE anyway. I would expect yews to drop in price slowly in GE also.

 

 

 

ItÃÆââââ¬Å¡Ã¬Ã¢ââ¬Å¾Ã¢s a buyers dreamworld at GE these days, but a sellers nightmare if they have product they want to make profit on (i.e. they bought low, and want to sell high). Those who want to clean out their banks at low costs are fuelling the price reductions, and I for one am loving the cheap product on offer.

 

 

 

It would appear that most RS players are not fussy when it comes to selling/buying prices of items, as long as they get something for their effort they are happy.

 

 

 

Long may it last :)

[adthegreat-]

Lets look at it economically, clearly, supply is outstripping demand, hence the reason it takes seconds to buy a lot of things, but there are a few things that won't sell even on the lowest price in the range. All the while, people are buying at the lowest end, because there are a queue of sellers, thus reducing the market price (albeit it slowly), to a level where the sellers would rather keep the items, and slowly an equilibrium is reached. This brilliant addition from Jagex provides all traders with 'perfect information' and from now on, when prices have settled, there should be very few upsets to prices, barring updates. It will also cut out some of the supernormal profit that merchants were gaining from impatient sellers like me, who will always sell at the lower end of the market price, because I want cash quick, and time is money. Merchants will be seeing less of my impatient money, because they now have to queue up buy goods with all the regular players, and their devotion to trading will no longer serve them, because now all players are effectively 100% devoted to trading, given that we don't even have to be online to be partaking in it.

[Nuclear_man2]

pro: Faster selling/buying (overall)

 

Con: Worst-nightmare if merchant (as just about all prices are dropping) (im in this general area)

[Aaron888]

This is great people keep posting lets try for 1000 posts

[kdb148]

That's the other thing, many members had tons of rune stuff in their banks that previously they cba to go into world 1 to sell, from both monster drops and treasure trails. Now, they just toss it all in the GE for the minimum price and they can sell it without having to hop worlds or stand around yelling for 10 minutes. It's like found money.

 

 

 

I don't think that reasoning works for everything though. Like nats, for example - I doubt the GE has caused appreciably more nats to hit the market than used to, since most of the people making nats previously wouldn't let them languish in their bank, they would sell them immediately.

[Solidus_77]

This is great people keep posting lets try for 1000 posts

 

 

 

Let's try not caring about post count too :shame:

[lordkrohn1626]

Pros: Everything, I love when I come home from work and log in...and find out I have several million gp awaiting for me to collect. I love when I want something, I can click buy, enter item, and (so far anyway) instantly acquire :)

 

 

 

cons: nothing, cept the poor merchanters can't orchestrate prices anymore *sniffle*

 

 

 

=D> :thumbsup: :XD:

[qeltar]

Pros:

 

 

 

1. A convenient way to buy and sell certain commodities, if you are lucky enough to want to buy what everyone is selling or vice-versa.

 

 

 

2. Elimination of the need for aggregation-merchandising (if prices ever settle).

 

 

 

3. Ability to quickly get certain oddball items that were a pain to get before but you can now buy fast.

 

 

 

Cons:

 

 

 

1. Lack of free market due to price controls, which makes most items impossible to transact.

 

 

 

2. Very slow updates -- they don't appear to have changed prices on anything since YESTERDAY morning.

 

 

 

3. "Thoroughly researched" initial prices that indicate that most folks at Jagex know little about their own game.

 

 

 

4. Poorly designed user interfaces with lots of unnecessary clicking.

 

 

 

5. No browse feature, greatly reducing the system's usefulness.

 

 

 

6. Lots of potential for people to get ripped off when this system stabilizes, due to poor information.

 

 

 

7. Building is very large and unnecessarily far from the Varrock tele point.

 

 

 

8. Discovering just how incredibly poor a job our school system is doing of teaching about economic fundamentals.

[berbatovsky]

Cons:

 

 

 

 

 

8. Discovering just how incredibly poor a job our school system is doing of teaching about economic fundamentals.

 

 

 

Only economists think learning about the economy is worthwhile everyone else could care less. A (small) test was done on a stock market(FTSE 500), 10 children were given little pieces of paper to choose from, on the paper were different stocks, the kids picked them at random. 10 of the most powerful investment brokerage companies in the country (UK) were asked to pick some picks for trading that day using their nous. The kids picks on average went up, the companies picks on average went down(what economic fundamentals did the kids know that the companies didn't?). We had masters of economics in a position to effect changes during every stock market crash, why didn't they avert them? because its not something that can be mastered, its like the tide.

 

 

 

Also given than 99% of people will not be involved in economics in anyway it seems futile to teach them something they wont need as a skill. I'd prefer my mechanics to know about automobiles thanks.

 

 

 

Its a game, people don't play a game so they can use their brain to make the economy 'better' (well they do-they're called merchants, but they are 'playing' at being stock brokers, Runescape itself is just used as a market).

[lordkrohn1626]

Cons:

 

 

 

 

 

8. Discovering just how incredibly poor a job our school system is doing of teaching about economic fundamentals.

 

 

 

Only economists think learning about the economy is worthwhile everyone else could care less. A (small) test was done on a stock market(FTSE 500), 10 children were given little pieces of paper to choose from, on the paper were different stocks, the kids picked them at random. 10 of the most powerful investment brokerage companies in the country (UK) were asked to pick some picks for trading that day using their nous. The kids picks on average went up, the companies picks on average went down(what economic fundamentals did the kids know that the companies didn't?). We had masters of economics in a position to effect changes during every stock market crash, why didn't they avert them? because its not something that can be mastered, its like the tide.

 

 

 

Also given than 99% of people will not be involved in economics in anyway it seems futile to teach them something they wont need as a skill. I'd prefer my mechanics to know about automobiles thanks.

 

 

 

Its a game, people don't play a game so they can use their brain to make the economy 'better' (well they do-they're called merchants, but they are 'playing' at being stock brokers, Runescape itself is just used as a market).

 

 

 

well said =D>

[brave]

Pros :

 

 

 

I have been able to empty my bank of all the TT rewards, and miscellaneous items (its the first time for ages that I have had free space in my bank :lol: )

 

 

 

No standing around in banks continuously typing selling

 

 

 

I am able to get on with the important things in RS life, like improving my skills, monster hunting, quests etc and still sell my unwanted items.

 

 

 

Items sell when I am not logged in

 

 

 

 

 

Cons :

 

 

 

Keeps telling me that my items have been sold when they haven't

 

 

 

All the autotyping merchants that used to be spread around the banks in RS are now all in one place.

 

 

 

People not understanding how the system works, ie continuously telling everyone that they have items in the GE in order to try and sell them quickly.

 

As a lot of people have said some of the prices are a bit "off", but I am sure this will stabalise eventually

 

 

 

Annoying having to keep going to Varrock to put items up for sale. I have visited Varrock more times in the last few days the in the previou couple of months :lol: . It would be good if we could have branches of the GE in the major cities, say Falador, Ardougne, Keldagrim and the underground goblin city.

 

 

 

IMO this is one of the best, if not THE best, update Jagex has ever produced for the game. I for one will never again waste precious time trying to buy or sell items in the old way and I am sure a lot of people will feel the same way.

[alcoolj]

Pros: Getting rid of items quickly and at a price I am comfortable with

 

DonÃÆââââ¬Å¡Ã¬Ã¢ââ¬Å¾Ã¢t have to go to forums and trawl through pages upon pages to find a buyer, or keep bumping a topic to sell a few hundred hides/bones etc.

 

If I put in a price I think is reasonable and someone has a lower sale price, I get a refund :)

 

I can sell things while asleep!

 

I can buy absolutely everything I need in an instant.

 

ItÃÆââââ¬Å¡Ã¬Ã¢ââ¬Å¾Ã¢s very close to Edge tele spot.

 

Has shown up where there is a glut in the market, i.e. nats

 

 

 

Cons: Some prices are a bit off, but they are getting to the right price gradually.

 

Extremely oddball items are impossible to get. I.e. try buying an orange cape, nope none for sale!

 

I canÃÆââââ¬Å¡Ã¬Ã¢ââ¬Å¾Ã¢t see how many of a particular item is for sale, so donÃÆââââ¬Å¡Ã¬Ã¢ââ¬Å¾Ã¢t know if I am wasting my time having 140k fire runes for sale or not.

 

Sometimes I get a message that items have been updated when in fact they havenÃÆââââ¬Å¡Ã¬Ã¢ââ¬Å¾Ã¢t. Maybe this is when the prices adjust? If so, its around 10pm NZ time!

 

A new update could see clever merchants reap great rewards in an instant due to people being logged off with items for sale at a far too low price, or having buy options on items with a too higher price tag immediately after an update (i.e. rune boots after drag boots came out)

 

Price updates are too slow ÃÆââââ¬Å¡Ã¬Ã¢ââ¬Ãâ Jagex could speed these up for the first week or so to enable the prices to stablise quicker.

[wbever]

Pro: I can make money by buying low cost items and selling them once the price gets back to normal

 

 

 

Con: I still cant get rid of my old member stuf

[fighterhwk]

Pros: For me, buying materials to train skills has been made much easier. I was able to buy over 80k lobs that I needed for 99 cooking all at once.

 

 

 

Cons: Some prices are off, as others have already pointed out. Also, I'd prefer it if we could browse what everybody is buying and selling.

 

 

 

Overall, I think the grand exchange is one of the very best updates that Jagex has made in a long time! =D>

[Makoto_the_Phoenix]

Pro: Finally able to buy and sell products that would take hours or days to get rid of.

 

 

 

Con: a) Every third person who has a degree in Econ thinks they can dissect it to a finer point, and complain about it.

 

B) Every other third person makes a topic about it.

[fighterhwk]

Pro: Finally able to buy and sell products that would take hours or days to get rid of.

 

 

 

Con: a) Every third person who has a degree in Econ thinks they can dissect it to a finer point, and complain about it.

 

B) Every other third person makes a topic about it.

 

 

 

Lol!

 

The cons actually made me chuckle a bit in real life :lol: :?

[Rebdragon]

Only economists think learning about the economy is worthwhile everyone else could care less. A (small) test was done on a stock market(FTSE 500), 10 children were given little pieces of paper to choose from, on the paper were different stocks, the kids picked them at random. 10 of the most powerful investment brokerage companies in the country (UK) were asked to pick some picks for trading that day using their nous. The kids picks on average went up, the companies picks on average went down(what economic fundamentals did the kids know that the companies didn't?). We had masters of economics in a position to effect changes during every stock market crash, why didn't they avert them? because its not something that can be mastered, its like the tide.

 

Wow. No.

 

 

 

The grasp that this forum has on economics is downright pathetic. You don't even understand the stock market crash, do you? Beyond the fact that it was a first time matter for economists, the economy was spiraling at the time- marginal buying of stocks, farmer debt, bank runs, as soon as the bubble hit there's was nothing the previously vicarious nation could do. Guess what? Because of this incedent, and many others, Keynesian theory was formed, and bubble markets like that of 1929 (most likely the only economics topic ya'll have ever even heard of) were prevented from ever happening again by the knowledgable input of a new outlook on macroeconomic theory.

 

 

 

And of course, lemme guess, that test had to be such a small sample size (10 kids and 10 organizations, that's laugable for anyone who's even taken a week of Statistics), and it had to be run multiple times before the kids eventually won? Oh, and to boot I bet the stocks picked were all volatile ones at that, chosen in such a way as to create a bias by not properlly mirroring the market.

 

 

 

Give me a reference this "test", I want to see how valid it is. It honestly sounds like the quintessence of bull.

 

 

 

Also given than 99% of people will not be involved in economics in anyway it seems futile to teach them something they wont need as a skill. I'd prefer my mechanics to know about automobiles thanks.

 

HAHAHAHA.

 

 

 

You don't even make an income of any kind now, do you? You will use economics for the rest of your frikkin' life, whether you're knowledgable about it or not.

 

 

 

Tell me, have you ever studied economics in your life? Or are you just making some whimsically random point with absolutely no knowledge of the subject you think you're trying to debate about?

[alcoolj]

Pro: Finally able to buy and sell products that would take hours or days to get rid of.

 

 

 

Con: a) Every third person who has a degree in Econ thinks they can dissect it to a finer point, and complain about it.

 

B) Every other third person makes a topic about it.

 

 

 

The remaining third actually using it and enjoying it :)

[hybrid2hell]

Pros- There are a lot, but the main one is being able to sell an item while skilling at the same time. This is good because i dont have to spend a lot of time getting into world 1 and typing the same message over and over.

 

 

 

Con- Change in prices, some worse than others (willows and various ores)

[flash]

In all honesty im in college i have taken macro econ and micro econ and it doesn't make me any better at understanding some of the things that happen in ths game. Bottom line is this is not the real world sure some things will transfer over but other things will always prevent it from being a real reflection.

[jessy87]

7. Building is very large and unnecessarily far from the Varrock tele point.

 

 

 

 

 

 

 

edge tele for members ftw