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How do players know how much an item is worth?


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#21
i_D_r
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There are a number of things:


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Natural Demand/Supply meeting at a certain point (for items with utility).

High alch prices + stores will buy everything (mostly for items without much utility)

Elasticity of items

Shops, and their once a day stocks

Statuettes, coin drops, and other ways raw GP comes into game

Items leaving the game

Monopolistic activity

Amount of players

Updates (this is pretty much correlated to everything else here)

Since the advent of the Grand Exchange, Jagex on a few items from time to time

The Grand Exchange itself; some items such as edibles are/were merely bought out to be used as bargaining chips for higher-end items (due to GE's constraint of obtaining such higher-end items)

Bots / Gold farmers

Amount of GP each player has, who has it, and the ratio for which it is distributed


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I think this covers most basic ways items get their prices. I had to stop because I started listing too many things related to each other. But you get the idea.

Off topic: Merchanting, besides monopolistic activities (and sometimes monopolistic activity is needed for the best value for society e. g. utilities), churns the wheel for a healthy economy. In real life, a lot of jobs wouldn't exist. In Runescape, the end result is the same.

Pre-GE, they provided a hub for items. Post-GE, they can do the same on a number of occasions. I.E. Brews are bought out due to a new update (such as Nex). You may pay inflated prices to get such items.
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#22
Animaslayer
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If the standard price of an item pre-07 was 2m, and a merchanter sold it for 2.1m, that wasn't scamming. Some people want their items immediately, so they would be willing to pay a bit extra.

Selling spinach rolls or charcoal for 20m was scamming. <-



selling spinach roll 20m <- not a scam
selling super rare spinach roll, only this one left in game <- scam

charging a price you want is not a scam, lying about its properties and such, is
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#23
Jaded
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Easiest way for me was to go to w2 and listen for a few minutes. Go stand in the rares section if you were trying to sell rares and see what most people were selling for. I still use this to gauge when to sell stuff when flipping. Like yesterday i saw so many people dumping bandos chestplate, i dumped mine and didn't lose 700k per :ohnoes:

But be aware that certain merch clans are going to try and create panic when free trade comes: advertise a low sell price to make it seem like it's crashing, scoop up an item for cheap and resell for higher when panic passes. Yeah they're not even keeping the illusion of not price manipulating anymore.


This really gets down to the morals of cheating versus the morals of being forced to throw away your life [1000's of hours] to access content you enjoy

Isn't life about throwing away your life (a job) to access content you enjoy?


#24
sprites
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You hired an appraiser, duh. :P
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#25
Zantareous
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Standing around and seeing the average asking price, Zybez, Forums.

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#26
DiscoShazam
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same way that jagex knows how much an item is worth.

just kidding, they don't.
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#27
Hamtaro
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inb4everyone still uses GE for all trades except rares/new items

I voted yes btw... multiple times.
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#28
Pat_61
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How do you know what an item is worth in real life? People decided the price that they think it is worth and will barter a little. Its also a matter of supply and demand vs contental(yes I made up a word) value. If rune ore was everywhere like iron, its price would be in a similar state to iron, though still staying high due to the high levels needed and would be ~1k-5k I would assume. Its also a mind game and how people buy stuff off each other. If you are selling an item people need right then and there you can get a lot more money than if they just want it. That's why World 1 was always tedious for the buyers and sellers. Most were smart enough to wait around to see if their are lower prices. Which brings us to competition of sellers. When players would enter the alter(quite sad that they moved it IMO) they would look to see who was giving the most money/runes back with ess. The smart players that saw who they traded with gained a loyalty to them and then other crafters would have to raise the reward to get a lot of people to come to them. Can't wait for good ole free trade and for some prices to fix themselves.
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#29
ACDCFTW
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I knew how much stuff was worth when i entered W2 Fally park.

I use to go to W2 Fally park once a day just check the prices of items.

#30
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I really hope G.E prices won't be leading prices as it makes proper old time merchanting, not necesarrily scamming, a lot harder!



You cant do old time merchanting because the merchants of the past provided what the GE does today.

Anyone can tele to the GE and place whatever number of any item for any price.

You dont need someone to collect all the small amounts into a larger amount anymore.

People wont have to mess around with the trade forums anymore they can just place it in the GE




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