Og Blog: EoC and the Grand Exchange

[Estoc]

I wish Nex sets could at least take their place as level 80 armor with dignity instead of Jagex adding some ridiculous effect to artificially lengthen it's life. Remember penance armor's "set effect" when they removed the unique stats?

[michel555555]

Why did they even make this post? Why not just let nex gear fall like all other armors in the history of runescape when new armour was released or supply increased...Remember the days when granite legs were 2m? No one complained then when they started to crash.

[Thus]

Why did they even make this post? Why not just let nex gear fall like all other armors in the history of runescape when new armour was released or supply increased...Remember the days when granite legs were 2m? No one complained then when they started to crash.

 

This is nothing like granite legs. This is a crash that came before its time instead of a normal and natural price drop. Also 2m still wasn't a lot when they came out. And dragon legs/barrows was still better. We aren't talking medium level armor, this is the best currently in the game (the lvl 85 stuff isn't in game yet). It shouldn't have dropped like this, even if people wanted it to drop. No one who had it wanted it to drop, it just did because people mass sold it.

 

I feel the only people complaining about Jagex's post are the people who:

 

a) Wish Jagex said something sooner before everyone panicked.

b) Can't afford it otherwise and want the armor to decrease more.

c) Are people who sold the armor during the panic and want their selling investment to pay off.

 

Like I said before, I wasn't lucky. I wasn't born rich. I didn't get help. I worked hard for what I had. I have every right to be pissed off at the people panicking.

I don't know anyone who owns this armor who supports this price drop besides people who either have more money than they know what to do with or people who like being poor.

[ACK]

As Jagex said, items crashing 'cus of more ppl selling and less buying.

 

 

EDIT: the current armour almost all the same NO special about high-level-armours for now.

 

 

Miss the old days where you show off your New-Cool-Rare-Special-High-Level-Armour.

[Golvellius]

God save the Queen and Torva.... give me a break.

They never cared before, so curious that they do now. (I'm thinking you can be getting Torva in solomon's shop here soon.)

[Kimberly]

(I'm thinking you can be getting Torva in solomon's shop here soon.)

 

.....How on earth did you get from point a to point b on that one?

 

 

[Yoko Kurama]

@ Thus,

 

I am not going to bother with the rest of your post(s), as we've reached an impasse. If you can't understand that people will dump armour that is less useful to them or if there's viable and cheaper alternatives, well, then I can't help you. I don't mean that in some smarmy or condescending way, but if we can't agree on basics such as supply and demand. well, then we're simply going to be talking past ourselves and that's pointless.

 

I will however address this portion of your post though, because you have revealed a clear contradiction and case of projection:

 

 

I feel the only people complaining about Jagex's post are the people who:

 

a) Wish Jagex said something sooner before everyone panicked.

b) Can't afford it otherwise and want the armor to decrease more.

c) Are people who sold the armor during the panic and want their selling investment to pay off.

 

Like I said before, I wasn't lucky. I wasn't born rich. I didn't get help. I worked hard for what I had. I have every right to be pissed off at the people panicking.

 

 

On one hand you are implying that other people are lazy and entitled leeches who just want the armour to drop in value so they can afford it, while you are Mr. Hardworking and how you have every right to be mad at people who are supposedly causing the items to crash. In just about every item in RS history(with the exception of same rare[pun intended] cases), as supply increases, or demand decreases, the price of the item will inevitably plunge. That's something you accept and agree to when you purchase an item, no if's, ands, or buts. Most people who have purchased items in RS history were "hardworking" people who worked just as hard as you, if not more, and they all accepted that their hard-earned items would one day crash, and they did. I bought a set of Full Pernix for 1.6B last year, remind me, how much is the set now? Do you see me complaining or blaming panic-sellers? When you purchased your item you were perfectly aware of that. So there's absolutely nothing special about Nex armours crashing, nothing; unless of course you have been living under a rock for the entirety of your RS career, this is what happens to just about every item. So what made you think that when you bought your Nex Armours or whatever it is whose plunge you're lamenting, that it would stay constant in price forever?

 

Furthermore, all these so-called panic-sellers, bought their armours just like you did, so they have every right to do with them whatever they wish. If they want to alch them, give them away, drop them, or in this case, dump them on the GE, that is their right. Why should they hold onto an armour that they feel has no use to them, just because you want them to hold onto it, for your own personal interests? That's the height of selfishness and entitlement mentality. You, not they, are the one who has a sense of entitlement. "Everyone hold onto your armours, even if you don't want to, because otherwise I might lose some money! And heaven knows, that can't possibly be allowed to happen, can it?"

 

I also take issue with this part of your post:

 

I don't know anyone who owns this armor who supports this price drop besides people who either have more money than they know what to do with or people who like being poor.

 

It's not a matter of actively supporting crashes, the items were going to crash regardless of the wishes of anyone(except Jagex). That's the natural state of the market. Though, there are some people who wanted this item to be cheaper so they could save some money or afford it(this has been the case with every item in the game), that has absolutely no impact on the market. People don't simply make a wish, "I wish that Torva Armour was 50M!" and it comes to be. Regardless, if people want to wish that an item crashes because they can't afford it, that is their right as well. If it's in their interests for an item to be cheaper, why shouldn't they wish it so? There's absolutely nothing wrong with that as well.

[Platinum_Myr]

(I'm thinking you can be getting Torva in solomon's shop here soon.)

 

.....How on earth did you get from point a to point b on that one?

 

That's why we call it a non-sequitor

[Fallstar]

(I'm thinking you can be getting Torva in solomon's shop here soon.)

 

.....How on earth did you get from point a to point b on that one?

 

Well Jagex are now infamous for using updates to promote RWT. Prime example being when they announced double xp, causing items to skyrocket, then put bundles of items for buyable skills on the SoF, making buying spins a far more attractive prospect than it would have been.

 

I think Golvellius was saying that if Jagex are manipulating the Nex markets, they could have been doing so as they were planning to sell Nex gear, and before that newspost they were cheap enough that no one would have bothered RWT'ing for them.

 

A bit of a leap there, and I think he was using a bit of hyperbole, but since we've gone from the Loyalty Shop and RAF to full blown RWT of xp, gold, items and rares in the past 12 months, I'd say he'll probably end up being right this time next year.

[Thus]

On one hand you are implying that other people are lazy and entitled leeches who just want the armour to drop in value so they can afford it,

The people complaining that it should go down more? Yes

 

while you are Mr. Hardworking and how you have every right to be mad at people who are supposedly causing the items to crash.

Me and everyone else like me, yes

 

In just about every item in RS history(with the exception of same rare[pun intended] cases), as supply increases, or demand decreases, the price of the item will inevitably plunge. That's something you accept and agree to when you purchase an item, no if's, ands, or buts. Most people who have purchased items in RS history were "hardworking" people who worked just as hard as you, if not more, and they all accepted that their hard-earned items would one day crash, and they did. I bought a set of Full Pernix for 1.6B last year, remind me, how much is the set now? Do you see me complaining or blaming panic-sellers? When you purchased your item you were perfectly aware of that. So there's absolutely nothing special about Nex armours crashing, nothing; unless of course you have been living under a rock for the entirety of your RS career, this is what happens to just about every item. So what made you think that when you bought your Nex Armours or whatever it is whose plunge you're lamenting, that it would stay constant in price forever?

Now this is where you, to you your own words "talk past" my point.

I never said the prices wouldn't drop. What I did say earlier that this was not a natural drop. I knew Pernix wouldn't be 2b a set forever. But the reason why it dropped to absolutely nothing that quickly was a mixture of EOC and panic selling. That is where the problem lies. Never before has something gone down this drastically over one update, except spirit shields, which bounced.

 

Furthermore, all these so-called panic-sellers, bought their armours just like you did, so they have every right to do with them whatever they wish. If they want to alch them, give them away, drop them, or in this case, dump them on the GE, that is their right. Why should they hold onto an armour that they feel has no use to them, just because you want them to hold onto it, for your own personal interests? That's the height of selfishness and entitlement mentality. You, not they, are the one who has a sense of entitlement. "Everyone hold onto your armours, even if you don't want to, because otherwise I might lose some money! And heaven knows, that can't possibly be allowed to happen, can it?"

Except this isn't choosing what to do so much as it is bandwagoning. Because some people started dumping, and w2 merchants dumped, the rest followed suit. And this isn't a sense of entitlement. This is the old "if everyone jumped of a bridge, would you" scenario. It's just silly, because now, like I said and you neglected to mention, these same people are rebuying the armor, causing more economic upsets. If they would have stood calm about the situation, the crash wouldn't have happened.

 

I never said the armor wouldn't go down, I said they wouldn't have gone down nearly this much if the panicking didn't happen.

 

And as a side note, so much for your first paragraph, since you ended writing the rest. And yes you were "smarmy or condescending", whether you wanted to be or not. But I guess two can play at that game. Can't win an argument unless you insult the guy you are arguing with, right?

[Estoc]

And this isn't a sense of entitlement. This is the old "if everyone jumped of a bridge, would you" scenario. It's just silly, because now, like I said and you neglected to mention, these same people are rebuying the armor, causing more economic upsets. If they would have stood calm about the situation, the crash wouldn't have happened.

 

Except selling your armor at the start of a crash doesn't kill you, it saves you money.

[Thus]

And this isn't a sense of entitlement. This is the old "if everyone jumped of a bridge, would you" scenario. It's just silly, because now, like I said and you neglected to mention, these same people are rebuying the armor, causing more economic upsets. If they would have stood calm about the situation, the crash wouldn't have happened.

 

Except selling your armor at the start of a crash doesn't kill you, it saves you money.

If no one sold their armor due to fear there wouldn't be a crash and it wouldn't have dropped. Come on man, I can't believe I keep having to explain this. It's not like the item prices just crashed for no reason.

 

And if I did sell my armor at the beginning of the crash I would be contributing in starting said crash.

[Estoc]

And this isn't a sense of entitlement. This is the old "if everyone jumped of a bridge, would you" scenario. It's just silly, because now, like I said and you neglected to mention, these same people are rebuying the armor, causing more economic upsets. If they would have stood calm about the situation, the crash wouldn't have happened.

 

Except selling your armor at the start of a crash doesn't kill you, it saves you money.

If no one sold their armor due to fear there wouldn't be a crash and it wouldn't have dropped. Come on man, I can't believe I keep having to explain this. It's not like the item prices just crashed for no reason.

 

And if I did sell my armor at the beginning of the crash I would be contributing in starting said crash.

You're arguing for the ideal situation and everyone else is arguing for the realistic one. Both make sense but only one is relevant.

[Kimberly]

(I'm thinking you can be getting Torva in solomon's shop here soon.)

 

.....How on earth did you get from point a to point b on that one?

 

A bit of a leap there, and I think he was using a bit of hyperbole, but since we've gone from the Loyalty Shop and RAF to full blown RWT of xp, gold, items and rares in the past 12 months, I'd say he'll probably end up being right this time next year.

 

No, he won't. Jagex selling gear is inevitable but his claims of advertising like that to manipulate the market is just foolish. They don't need to do stuff like that to manipulate the items and make them more desirable.

[Ginger_Warrior]

Prices on the GE are falling in response to the volume of items being sold on the GE; right now people are panic-selling items, because they are afraid the price of the items will go down considerably. This is self-fulfilling; as so many people are liquidating their priciest assets just in case their rare items become less valuable, the price of these items is going down. If this carries on, then it means the price will continue to drop, and will do so quickly. The demand for these items has generally stayed the same - people still want high-level , rare gear - but the number of sellers has increased disproportionately.

 

It’s worth mentioning that the price of objects - especially high-level and rarer gear - has been steadily, yet slowly, declining for a number of months. This is quite natural, considering that there are more of these items entering the game every day and not many going out.

So:

 

Quote 1) Panic-selling causes an unnatural drop in prices due to an unfounded and baseless assumption that prices are continuously dropping--hence the term "panic-selling"--and this phenomenon is self-fulfilling; number of sellers has significantly increased as a result.

 

Quote 2) Prices continuously drop over the course of an item's lifetime as a natural result of a shift in supply vs demand. As time goes on, there is more supply and less potential demand as players acquire their own sets.

 

This is a glaring contradiction.

[Saradomin_Mage]

Prices on the GE are falling in response to the volume of items being sold on the GE; right now people are panic-selling items, because they are afraid the price of the items will go down considerably. This is self-fulfilling; as so many people are liquidating their priciest assets just in case their rare items become less valuable, the price of these items is going down. If this carries on, then it means the price will continue to drop, and will do so quickly. The demand for these items has generally stayed the same - people still want high-level , rare gear - but the number of sellers has increased disproportionately.

So:

 

Quote 1) Panic-selling causes an unnatural drop in prices due to an unfounded and baseless assumption that prices are continuously dropping--hence the term "panic-selling"--and this phenomenon is self-fulfilling; number of sellers has significantly increased as a result.

Prices are continuously dropping, but what I think Thus mentioned is that panic-selling is fuelled by the belief that the prices will take a sharp drop as opposed to a steady decline

[Estoc]

I still don't understand why it was posted at all.

[Yoko Kurama]

Prices are continuously dropping, but what I think Thus mentioned is that panic-selling is fuelled by the belief that the prices will take a sharp drop as opposed to a steady decline

 

Panic-selling is usually fueled by some update or recent development that already lowers demand for items. So for instance, Nex armours had been dropping steadily for quite some time, but the announcement of armours that were superior to it, was going to result in reduced demand regardless of panic-sellers. Certainly it is true that panic-sellers exacerbate this tendency, but they do not cause it themselves.

[SirTommy2005]

I barely had enough for torva a few days ago and this happens.