How do we control price of items in GE??

[Eplanet]

this question was a small part of another post that was locked for "spam", so i will try to be as simple as possible.

 

 

 

if i want to adjust price in ge of item by a few hundred gp, how is it done? and it must involve more than selling massive quanities at the highest/lowest price.

 

 

 

(still with me, if not, plz dont spam my post)

 

 

 

like if someone has a large order at the lowest cost when your trying to drop the price, you have to stop 1gp above their offer?

 

how many items have to be bought or sold to adjust the price? it seems several thousand must be likely.

 

is this a highly active activity? how many others are doing this at any given time?

 

 

 

(if there is something that you legitimately dont understand about my post, be specific when you reply)

[purewcnub]

The ge price changes on how much gp the majority of the buyers spend on an item. If alot of people buy for max, it goes up. If they buy for lowest, it goes down.

[Assume Nothing]

"Average" buyer's price, I suspect.

[Makoto_the_Phoenix]

No one person can control the market unless they have 9000 trillion GP, anyway. We control it based on the prices that it is indeed selling for between the GE updates.

[Eplanet]

ok, first of all, im nearly 40yo. i know how to object-oriented program (the basics), i studied for license to buy/sell securities in 90's.

 

 

 

purewcnub - ha, yes, you understand the basics, but there is more going on than that. people adjust the price much faster than would normally be played out. (my locked post from a couple hours ago gives one example of this)

 

 

 

Makoto_the_Phoenix - i am very sure you are wrong. until i know better i wont give an example, but why not put in a order for 1000 items, sell them to yourself, then do it again and again. did this not occur to you?

 

 

 

now it seems more likely the ppl that do this won't be talkin about it, since there are now a few replies from people that honestly didn't know this has been going on, or know and just trying to keep what they feel is a secret only for the select few.

 

 

 

Anyone else have something substantial to add to this topic? may not be on for few days.

[jonni]

I read your locked post; firstly if you haven't been on the game for a few years read the KB article about the GE which might explain some of the mechanics behind it and how the prices change -

 

http://www.runescape.com/kbase/viewarti ... cle_id=559

 

or the wikia article

 

http://runescape.wikia.com/wiki/Grand_exchange

 

 

 

I still don't completely understand how it works but I'll try and explain a bit

 

 

 

if i want to adjust price in ge of item by a few hundred gp, how is it done?

 

 

 

nowadays, large groups of people invest most of their money buying all of X item (let's say dragon longswords) - so they all put in offers for dragon longswords to "buy out" all of the "sell" offers in the exchange that are people selling dragon longswords.

 

Thus dragon longswords become difficult to buy on the grand exchange because they have all been bought off. So demand increases, and therefore price increases - although I'm not sure by what exact factors the price index program works - the trade price will increase until the groups that bought out said item decide to sell them once the price has raised for a good profit.

 

Using this example to go on, if you wanted to single-handedly adjust the price of an item you would have to have a lot of cash to buy out all the offers in the exchange to increase the demand and prices.

 

But for some items; like the aforementioned dragon longsword, it can still be bought in a store and therefore wouldn't rise too high.

 

 

 

like if someone has a large order at the lowest cost when your trying to drop the price, you have to stop 1gp above their offer?

 

i'm not sure about trying to drop the price of something, you'd have to flood the market with a lot of the item

 

 

 

how many items have to be bought or sold to adjust the price? it seems several thousand must be likely.

 

yep, well obviously it depends on the item, there are more fire runes than whips in the game (presumably)

 

 

 

is this a highly active activity? how many others are doing this at any given time?

 

if you hang around the exchange area a lot, you'll see people advertise things such as "join XX chat fast mills " etc. These are groups all doing the same thing, trying to raise the price of items for profit by buying them out. There are lots of these groups, but the general community consensus is that they don't provide you with fast cash and uber profit contrary to what they advertise. you will most likely lose money with a group like this. Generally, the more successful exchange groups are small clans of friends with lots of money, or even solo merchants with lots of money.

 

Hope this helps, I don't know the exact specifics of how the exchange price index machine works, so it would be worth reading those links.

[Earth_Poet]

If you are able to dictate the largest amount of transactions of a specific item in one day, you'll have the greatest influence on which direction the price moves. There are two advantages a merchant clan can have: 1) a larger stockpile of cash amongst the clan to move prices, 2) the ability to make more transactions (since there's a limit per person).

 

 

 

As far as I know, it doesn't matter how many transactions are being made; if you are the only buying and you bid for one item at max, then the price should adjust upwards the next day. In order to manipulate the prices, the most effective way is to buy out all of a given item on the GE. Seeds seem to be a popular item to manipulate, because there is always a demand for them, but are difficult to gather in consistent quantities on your own.

 

 

 

Your real life experiences probably would make you much more knowledgeable than most people here, especially myself. The way I see it, it works pretty much the exact same way as cornering the market. You buy out a controlling share of an item, and create an artificial demand for it.