Changes coming to the Grand Exchange

[Duke_Freedom]

Being a merchant is not necessarily about ripping people off.

 

 

 

In essence it is not about that at all. A good merchant can still make a nice living without any - what you may call - "lucky deals". In fact, a good merchant can therefore still make a nice living in the new trading system.

[alcoolj]

The subject at hand is about the future changes that will be implemented into the GE, not what happened to Phats many years ago, cheaters of yesteryear, or styles of merchanting.

 

 

 

Again, here is a summary of proposed changes:

 

 

 

1)Correcting the 1% of incorrect prices (chompys, rune boots, black masks etc), great for merchants who can predict which items prices will shift significantly over the next few weeks.

 

2) They will provide charts/stats on price movements. Gotta assist merchants there?

 

3) Creating better floor prices for raw materials = prime merchanting avenue right there for all merchants.

 

4) They are going to improve the interface of GE ÃÆââââ¬Å¡Ã¬Ã¢ââ¬Ãâ thatÃÆââââ¬Å¡Ã¬Ã¢ââ¬Å¾Ã¢s a good thing.

 

5) No 5% rule on new items, another great thing for merchants.

 

 

 

5 things to assist merchants should be a sound reason to invest wisely now, and reap potential rewards later.

 

 

 

What wonÃÆââââ¬Å¡Ã¬Ã¢ââ¬Å¾Ã¢t be able to happen is the following scenario:

 

 

 

Newbie cuts 1k logs and has the patience to bank them. Merchant offers to buy 10k of them at 20gp each, and newbie thinks he is getting a good price as he heard willows were less than that so cuts 10k over a few weeks. Merchant rips off newbie to the tune of 800k.

 

 

 

Ego compares the above scenario to trading stocks, but its not ÃÆââââ¬Å¡Ã¬Ã¢ââ¬Ãâ obviously. With the new system, newbie will see what the market value of said logs is, and hence will never again get ripped off. He may have been happy to sell for 20gp each, but only because he was new to the game and did not know why normal logs would be worth so much. +1 to Jagex imo for not allowing this to ever happen again. Experienced players preying on newbies should, and has been eliminated from the game.

 

 

 

Me, IÃÆââââ¬Å¡Ã¬Ã¢ââ¬Å¾Ã¢m a pker, and part time skiller ÃÆââââ¬Å¡Ã¬Ã¢ââ¬Ãâ so the GE has helped me out a lot in recent weeks. I can buy range pots, dhide sets, arrows etc at bargain prices and can sell what I consider to be worthless junk for mils ÃÆââââ¬Å¡Ã¬Ã¢ââ¬Ãâ who would have thought my 1k crushed birdsnests would get snapped up so quickly!

 

 

 

Better floor prices will help me decide what to do with 50k maples ÃÆââââ¬Å¡Ã¬Ã¢ââ¬Ãâ fletch, burn or sell, another update IÃÆââââ¬Å¡Ã¬Ã¢ââ¬Å¾Ã¢m looking forward to. IÃÆââââ¬Å¡Ã¬Ã¢ââ¬Å¾Ã¢m pleased to see that Jagex have taken on board many of the suggestions made on forums, although there is more I personally would like to see (fully viewable marketplace is #1 for me). In time it can only improve, even if its 1 step at a time.

 

 

 

PS to Ego: Please stop comparing peopleÃÆââââ¬Å¡Ã¬Ã¢ââ¬Å¾Ã¢s RS highscores to their ability to accurately post on these forums. I could put up my pitiful main as my RSN here, my cb 60 pure, my cb 40 pure but none show Jack about ability to post informatively/constructively.

[Harrington]

The thing that scares me most about the GE is the conundrum facing new items.

 

 

 

Suppose that new Dark Beast thingy drops a new powerful weapon, who decides it's introductory price on the GE? Given that it would be uber rare to begin with, would the price stay extremely high until affordable demand brings the price down?

 

 

 

Other than that concern, the only other thing I wish for is a little more variance being allowed when setting the price of your item. I've had 28 lavabattlestaffs on the GE since it was released. They started at 50k and are now 25k. Despite the fact that I remove them every few days and drop the lowest price, I haven't sold a single one. This is an issue I hope they fix coz clearly someone is able to sell them hence, the price drops lol

[icecube]

The thing that scares me most about the GE is the conundrum facing new items.

 

 

 

Suppose that new Dark Beast thingy drops a new powerful weapon, who decides it's introductory price on the GE? Given that it would be uber rare to begin with, would the price stay extremely high until affordable demand brings the price down?

 

 

 

Other than that concern, the only other thing I wish for is a little more variance being allowed when setting the price of your item. I've had 28 lavabattlestaffs on the GE since it was released. They started at 50k and are now 25k. Despite the fact that I remove them every few days and drop the lowest price, I haven't sold a single one. This is an issue I hope they fix coz clearly someone is able to sell them hence, the price drops lol

 

In a recent sticky that Mod Mark posted in the RSOF, he said for new items the 5% restriction would be waived. This would pretty much allow us to decide the initial price for the items.

[tryto]

 

 

 

That account is f2p. -.- . You call yourself a "skiller", but your highest level is 88, and you've played since when, like 2002?

 

I have no problem with you being richer and better than me, but dont call yourself a skiller, you're a merchanter.

 

PS-Your f2p skills total to about 50 over Mountain Jam's, which is less than a year old.

 

 

 

PPS- Sorry for screwing up your thread Qeltar.

[Harrington]

The thing that scares me most about the GE is the conundrum facing new items.

 

 

 

Suppose that new Dark Beast thingy drops a new powerful weapon, who decides it's introductory price on the GE? Given that it would be uber rare to begin with, would the price stay extremely high until affordable demand brings the price down?

 

 

 

Other than that concern, the only other thing I wish for is a little more variance being allowed when setting the price of your item. I've had 28 lavabattlestaffs on the GE since it was released. They started at 50k and are now 25k. Despite the fact that I remove them every few days and drop the lowest price, I haven't sold a single one. This is an issue I hope they fix coz clearly someone is able to sell them hence, the price drops lol

 

In a recent sticky that Mod Mark posted in the RSOF, he said for new items the 5% restriction would be waived. This would pretty much allow us to decide the initial price for the items.

 

 

 

Great stuff :) Must've missed that part as I skimmed the article. Well pleased about that then :)

[Fey_Warrior]

 

(Note ÃÆââââ¬Å¡Ã¬Ã¢ââ¬Ãâ The price of a maple log could never actually fall to 1gp ÃÆââââ¬Å¡Ã¬Ã¢ââ¬Ãâ all objects have a minimum value, similar to its high alch value + the cost of a nature rune).

 

This *should* read "similar to its high alch value '-' i.e. (minus) the cost of a nature rune". I think the '+' sign should be read as an 'and' rather than in it's formulaic sense.

 

 

We are, however, working on providing charts and statistics to help players read the market and the fluctuating price of objects.

 

This is something many players have requested.

 

 

 

I've had been in the habit of saving screen-shots from the NPCs standing around the G.E. but this has all been interrupted by other uproars taking away from my in-game time again -.-

 

 

 

Besides spreedsheets get unweildly after awhile and one needs to build databases that are a whole other time-consuming activity taking away from scarce game-play time.

 

 

We are also going to be improving the way you interact with the Grand Exchange itself - there'll be more information on this in a newspost soon.

 

Good work to all the posters here who I know have been contributing to the florid debate over the G.E.

 

I miss those days (even though they were only last week).

 

Finally, a note to those worried about profit opportunities on newly-released objects. Although we will have to set a generous starting price, the ÃÆââ¬Å¡Ãâñ5% rule of the Grand Exchange (see the relevant Knowledge Base article) will be waived to allow for greater price movements. This means there will be greater opportunities for profit on new items.

 

It's possible they might allow 'no' price limits on the initial days maybe.

 

 

 

I think that for some items the 5% limit would be actually useful, especially the highest priced items where manipulation is likely to be rife. For the lowest priced items, e.g. below 1000 GP, the limits need to be raised considerably (since it appears they can set them on individual items - yay) to vary by at least 10 if not up to 50%.

 

 

 

Over-time if we can give consistent feedback about these problems we can hopefully inform Jagex which items are problematic, and which ones aren't (those least open to manipulation are ones with the largest constant suppliers and buyers).

 

 

 

Again good job to everyone here who helped put the case for changes.

 

 

 

Now ... only if we can get the forums back from spammers we can actually discuss things there again.

 

 

 

Regards,

 

 

 

Fey.

[iwatake]

Fantastic.

[warren211]

Hopefully they remove the 5% restrictions when they update the trade system, or at least increase it a lot.

 

 

 

That would contradict everything they're trying to do to stop real world traders.

 

 

 

 

 

Buying whip, 61k...

[icecube]

Hopefully they remove the 5% restrictions when they update the trade system, or at least increase it a lot.

 

 

 

That would contradict everything they're trying to do to stop real world traders.

 

 

 

 

 

Buying whip, 61k...

 

It still could work.

 

Have the GE have average prices for each item. Trades could only be within 3k of that average price.

 

So if you wanted to try to transfer money through GE, it'd be almost impossible to get your items to the right person if everyone is buying as well.

 

That's just one way it could work.

[Mucky]

- The crappy Adaptive Pricing System behind the Grand Exchange

 

- They actually plan on introducing more price floors instead of less. They break their promise that the Grand Exchange will be a purely player based trading system by buying items for these price floors.

 

 

 

 

These are the issues that affect me. I was so excited about the GE but I quickly was disappointed. I can live with the + or - 5% if they would actually update, every item, everyday. These minimum values they are assigning items is not how they told us the GE would work. No, I don't want my maples selling for 40gp each, but if that is where the market is taking the price let it happen. These price controls are just wrong.

[ego_scorpion]

tryto, there oyu go again with assumptions. My entire bank is supplys for skilling pretty much. Ive played since early 2001 about hte itme the game came out, but I spent more time not playing than playing. In total ive probably played for about a year, thanks for trying

[tryto]

Perhaps I did make an assumption, but It's only one, so "there you go again" is not appropriate. May I point to your use of the word "we"?

[Rahila]

This is AMAZING news for people like me who are going to get a very high, possibly 99, summoning level. Good move jagex :thumbsup:

[SwreeTak]

This is really good news. Thank you for posting this here :D

[meili]

Wha? Price floor, I don't see how that can work...they can't force prices to go up if no one wants to buy for that price. I don't get it. :wall:

[Duke_Freedom]

Wha? Price floor, I don't see how that can work...they can't force prices to go up if no one wants to buy for that price. I don't get it. :wall:

 

 

 

According the various other threads around, this price floor is not just a limitation on how low people can sell their items.... Jagex is actually buying up items on the Grand Exchange themself - and they broke their promise that the Grand Exchange would be purely player based by doing so.

[o_knames]

Jagex is actually buying up items on the Grand Exchange themself - and they broke their promise that the Grand Exchange would be purely player based by doing so.

 

 

 

How in the world could anyone ever prove that?

[Dharockslayer]

Jagex is actually buying up items on the Grand Exchange themself - and they broke their promise that the Grand Exchange would be purely player based by doing so.

 

 

 

How in the world could anyone ever prove that?

 

 

 

You couldn't, however if the maple logs keep getting sold to jagex, thus removing them from the economy, it would result in them going up in price after a while since there is less of them in the economy. So somehow it could be proven.

 

 

 

And I would love a price graph for some items :D .

 

 

 

And to those who think merchanting is dead. Please think outside of the box or move on.

[wakka102]

Jagex is actually buying up items on the Grand Exchange themself - and they broke their promise that the Grand Exchange would be purely player based by doing so.

 

 

 

How in the world could anyone ever prove that?

 

 

 

You couldn't, however if the maple logs keep getting sold to jagex, thus removing them from the economy, it would result in them going up in price after a while since there is less of them in the economy. So somehow it could be proven.

 

 

 

And I would love a price graph for some items :D .

 

 

 

And to those who think merchanting is dead. Please think outside of the box or move on.

Jagex said that the minimum price would be a price that could be sold to a general store for, not just something on the ge, thats so that prices will only drop to a certain point then people could just sell to a store for a better price.

[berbatovsky]

Jagex is actually buying up items on the Grand Exchange themself - and they broke their promise that the Grand Exchange would be purely player based by doing so.

 

 

 

How in the world could anyone ever prove that?

 

 

 

You couldn't, however if the maple logs keep getting sold to jagex, thus removing them from the economy, it would result in them going up in price after a while since there is less of them in the economy. So somehow it could be proven.

 

 

 

And I would love a price graph for some items :D .

 

 

 

And to those who think merchanting is dead. Please think outside of the box or move on.

 

 

 

You can't prove or disprove Jagex is buying items such as Maple logs, TBH it doesn't matter if they are. I don't understand the (few) merchants that complain, merchanting if anything is easier now and more like real life (investing).

[Mucky]

According the various other threads around, this price floor is not just a limitation on how low people can sell their items.... Jagex is actually buying up items on the Grand Exchange themself - and they broke their promise that the Grand Exchange would be purely player based by doing so.

 

 

 

I am having trouble finding these threads you mentioned. I would really be interested in reading more about this theory. Have you seen this around the offical forums or here on tip.it?

 

 

 

I'm not just asking Duke, can anyone else point me towards any posts that discuss this theory? Thanks.

[Kill_Thomas9]

They're removing the 5% rule? Good, now we can actually set our own prices.

 

 

 

Umm... Where did it say that?

 

 

 

the ÃÆââ¬Å¡Ãâñ5% rule of the Grand Exchange (see the relevant Knowledge Base article) will be waived to allow for greater price movements.

 

 

 

He was referring to new items, not all of them.

 

Yes they only said new items, but they SHOULD remove it for all items or else, come January, we may experience some "market seizings" like qeltar said.

 

 

 

Yep.

 

 

 

How that post was useful or constructive in any way?

 

 

 

 

 

Anyway, I believe a ÃÆââ¬Å¡Ãâñ5% rule does work fine for some items, but for others, it is much too strict. The whip for example: The price is accurate, but the price range is too strict. 60k in either direction is not enough to allow prices to change enough. But a h'ween mask, for example, has a perfect price range. I think a flat preset price range is a bad idea. I also think that updating prices once a day is far too few. Two or three times a day would be much better.

[magekillr]

We are, however, working on providing charts and statistics to help players read the market and the fluctuating price of objects.

 

 

 

tired of them spoon feeding people :?

 

 

 

and yes Duke...i agree with all your posts about this. i'm pulling around 300M from pure essence alone in 2 days \

 

 

 

qelter called me a price manipulator...but i didn't lie about the prices or bring my friends into the equation...i just followed where the market would go..up.

 

 

 

i gotta find a new toy...pure essence market was nice when it was only me in it...now it's infested. so rather than selling my goods by hand i'll wait 2-3 days for the GE price to increase and sell on there...as the GE price will continue to raise.

[o_knames]

And to those who think merchanting is dead. Please think outside of the box or move on.

 

 

 

I don't even think it requires thinking outside the box. It's plenty big enough to maneuver already.

 

 

 

The "rules" in the real-world change all the time. Smart business people still find ways to succeed. Same applies here.