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Grand Exchange


Big_Stingman
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Ok I know that the GE has massive amounts of transactions going through it all the time. But for my hypothetical situation and to make it simpler, there are only two people: one seller and one buyer.

 

Let's say that a seller sells an item, say a divine spirit shield, for one GP on the grand exchange. The buyer puts in an offer of one billion GP. How does the Grand Exchange choose what price to exchange the item for? Would it just go halfway?

 

Then throw in all the other people putting in "bids" for the items. If a third person put in one billion and one GP, would it sell for just one more GP of the settled price, or would it sell for one billion and one GP? blink.gif

 

If anyone could clarify this I would appreciate it.

 

Reason I ask this is because I have sometimes get more money back when I put in an offer to buy/sell an item, which means the GE is "modifying," so to speak, the amount of money that I had put in for my price.

Edited by Big_Stingman
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Well... in every exchange, either the seller or the buyer gets the desired goods instantly, and the other doesn't. From my experience, it seems that the one who has to wait gets the worse deal when the prices differ, while the one who gets the goods instantly gets money back if applicable. So, basically, if someone sold a spirit shield for 1 gp, he would instead receive the appropriate gp for the best offer out there. (Which also serves to make hail mary offers of "1k gp for a phat" pretty much useless.") Again, I'm not sure about this, these are just my observations.

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You're being watched.

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ive noticed that the person who puts the offer first (bar doesn't green immediately) gets whatever price he asked for so you never get change back

 

it will never go half way for a trade.

 

Unless you put in a price that was above his asking price? Wouldn't you get some money back then?

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ive noticed that the person who puts the offer first (bar doesn't green immediately) gets whatever price he asked for so you never get change back

 

it will never go half way for a trade.

 

Unless you put in a price that was above his asking price? Wouldn't you get some money back then?

In some instances this will happen, yes.

 

If you think about it though, in your example, the transaction will not work.

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ive noticed that the person who puts the offer first (bar doesn't green immediately) gets whatever price he asked for so you never get change back

 

it will never go half way for a trade.

 

Unless you put in a price that was above his asking price? Wouldn't you get some money back then?

In some instances this will happen, yes.

 

If you think about it though, in your example, the transaction will not work.

no, if:

he tries to sell for 1k gp

and then you offer 2k

he just gets 2k

 

[a] offers to sell coal for 1k gp

offers to buy coal for 2k gp after [a]'s offer

get coal and 1k gp back, while [a] gets 1k gp

Edited by ccesssu
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ive noticed that the person who puts the offer first (bar doesn't green immediately) gets whatever price he asked for so you never get change back

 

it will never go half way for a trade.

 

Unless you put in a price that was above his asking price? Wouldn't you get some money back then?

In some instances this will happen, yes.

 

If you think about it though, in your example, the transaction will not work.

no, if:

he tries to sell for 1k gp

and then you offer 2k

he just gets 2k

 

Except in some instances, such as when the 4-hour limit was holding you back.

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lost me..what does the quantity limit have to do with the prices?

You're saying that if someone is selling item X for 1k gp, then I go ahead and offer 2k gp for it later, the seller will get the item for 2k gp.

 

This is not always true, and many times I get item X for Y amount of coins and get 2k-Y amount of coins back.

 

Essentially, you're setting up a case where I try to instant-buy the item. Go to the GE right now and put in a offer for 1 Coal @10k. I guarantee you that you will buy the coal, and I guarantee you that it will not cost you 10k.

 

4 hour limit was just one example of how this can happen, but in my experience it happens often even without it playing a role.

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i know, i'm saying that:

the offer that instant completes (right after you put in your offer) is the one that gets the change. so, i agree with you that if i offered for 10k a piece coal that i would get the change

Then I think your example is flawed. If someone has a sell offer in for 1k, and I go ahead and offer 2k, it's not going to trade for 2k, because my 2k offer instant completes it and thus I get the change.

 

I'm confused. What are we trying to prove?

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ive noticed that the person who puts the offer first (bar doesn't green immediately) gets whatever price he asked for so you never get change back

 

it will never go half way for a trade.

 

Unless you put in a price that was above his asking price? Wouldn't you get some money back then?

In some instances this will happen, yes.

 

If you think about it though, in your example, the transaction will not work.

 

 

i'm saying it would trade for 1k..

he'd get 1k gp

you'd get 1 coal and 1k back in change

 

So isn't that exactly what I said?

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ive noticed that the person who puts the offer first (bar doesn't green immediately) gets whatever price he asked for so you never get change back

 

it will never go half way for a trade.

 

Unless you put in a price that was above his asking price? Wouldn't you get some money back then?

In some instances this will happen, yes.

 

If you think about it though, in your example, the transaction will not work.

 

Why would the transaction not work?

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ive noticed that the person who puts the offer first (bar doesn't green immediately) gets whatever price he asked for so you never get change back

 

it will never go half way for a trade.

 

Unless you put in a price that was above his asking price? Wouldn't you get some money back then?

In some instances this will happen, yes.

 

If you think about it though, in your example, the transaction will not work.

 

Why would the transaction not work?

 

Nvm, I was wrong.

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Not to nitpick, but in this one on one selling/buying situation, it is irrelevant what the person put in as the buy price. What ever the seller's price was (wether it be 1 gp or 2.47B), and there is only one being sold, that is the price the buyer gets it for.

 

Now you have to factor in all of the other people buying.

 

It doesn't split halfway or however. I recently bought a ZGS because my friend wanted to borrow for an hour. I then sold it back for the same 10% below the price I bought it and yet I got 300K more for it then I payed. I didnt even have a higher price than I payed for. It is just what is being bought at that time.

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Not to nitpick, but in this one on one selling/buying situation, it is irrelevant what the person put in as the buy price. What ever the seller's price was (wether it be 1 gp or 2.47B), and there is only one being sold, that is the price the buyer gets it for.

 

Now you have to factor in all of the other people buying.

 

It doesn't split halfway or however. I recently bought a ZGS because my friend wanted to borrow for an hour. I then sold it back for the same 10% below the price I bought it and yet I got 300K more for it then I payed. I didnt even have a higher price than I payed for. It is just what is being bought at that time.

no...i have sold things and got more gp than i expected, which disproves your theory. (go try selling coal for 1gp ea), it will give you more than one gp (unless there's someone trying to buy for 1gp ea haha)

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I know what you're referring to, sometimes I set an off to buy 10 of an item that I'm flipping. It doesn't go instantly, infact it doesn't move at all when I'm on. But sometimes when I log back on I get those 10 items + money back.

What?

 

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To make it simple:

 

When you put in an offer, the GE tries to find another offer that either matches it or is better. If sold instantly, you will receive the highest offer's worth. If bought instantly, you will have paid the lowest offer available (as long as it is over your price).

 

Then, if it isn't instant, you offer will be dealt with at the exact value you put in.

 

at least, that is from my experience. Maybe there are some subtilities with the buying limit, but anyway, that covers most of the question, I'd say.

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The GE will always be a mystery to me. A few days ago I was trying to buy a few hundred magic potions. I put in an offer for one at the suggested price of ~6k just to feel out the market, and it bought instantly at 5k.

 

I thought that was fair, so I put in an offer for 200 at 5K each and it didn't buy at all.

 

I needed them right away and didn't have time to fool around so I put my offer back in at 6K each, and all 200 instantly bought for 4.8K each.

 

I find it hard to believe that all magic potions that were for sale <5K completely sold out between my first and second offers, and magically got replenished at a lower price in the few seconds between my second and third offer.

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The GE will always be a mystery to me. A few days ago I was trying to buy a few hundred magic potions. I put in an offer for one at the suggested price of ~6k just to feel out the market, and it bought instantly at 5k.

 

I thought that was fair, so I put in an offer for 200 at 5K each and it didn't buy at all.

 

I needed them right away and didn't have time to fool around so I put my offer back in at 6K each, and all 200 instantly bought for 4.8K each.

 

I find it hard to believe that all magic potions that were for sale <5K completely sold out between my first and second offers, and magically got replenished at a lower price in the few seconds between my second and third offer.

that is...pretty jacked up haha

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