Thread: WAY over priced ore/ingots

there is Dwarf-iron ore/ingots for 6-7x normal price. i.e. 50 dwarf-iron ingots for 4 gold 990 silver,5 chunks of dwarf-iron ore for 2 gold...... REALLY GUYS THIS IS GETTING REDICULES LOWER THE PRICE THERE NEVER GOING TO SELL.

The prices you see are server dependent, and 'normal' can vary a lot. But yeah, the AH has issues and there is nothing to stop, or even discourage, sellers from having a wildly over priced first bid to try and over-inflate the price.

And before anybody claims free market - the supplier being able to make demands is very definitely NOT free market.

Why do you complain, you don´t have to buy it

There are always people with lots of gold, but less time, who buy it, btw 5g for 50 ingots is a very normal AH price, you won´t find them cheaper than 3,5g, except for stuff like Barrow-Iron, which everybody has, but nobody needs

5g for 50 ingots is a very normal AH price, you won´t find them cheaper than 3,5g

The prices you see are server dependent, and 'normal' can vary a lot.

5g a stack might be "normal" on one person's server, but way over-inflated on another's, or dirt cheap on a third. Saying a price is normal doesn't help much.

Originally Posted by Stu_NZ

And before anybody claims free market - the supplier being able to make demands is very definitely NOT free market.

By definition a free market is one where the seller can set the price they want to sell the item. The buyer can choose to buy or walk away.

What you are suggesting is a NON-free market, one with price controls. The USA tried that when I was younger with gasoline. The results as expected:

1) Suppliers stopped producing gasoline because it was not profitable.

2) Suppliers delivered the fuel to markets willing to pay more. Other countries.

This lead to gasoline rationing for all in the USA due to a lack of supply. Gas thievery via siphons from cars. People like me buying my ration - selling the gas the I bought at a huge mark up on the black market. I did not need my allotment because work was less than a mile away. I could bike there. The stores I needed to go to very close. Walking distance in many cases. The wife could take mass transit directly to where she had to go.

Originally Posted by dkgoofy

there is Dwarf-iron ore/ingots for 6-7x normal price. i.e. 50 dwarf-iron ingots for 4 gold 990 silver,5 chunks of dwarf-iron ore for 2 gold...... REALLY GUYS THIS IS GETTING REDICULES LOWER THE PRICE THERE NEVER GOING TO SELL.

Are you part of the OAH (Occupy Auction House) movement or somethin?!? Feeling like a self proclaimed 99%er. Well a pipplyboop on you my friend. Back in the day I would sell at those prices and happily.....price gouging you say. Not likely...aint too difficult to go out and mine it yerself. You and others are paying for a convenience. Now........about this bridge I got.....

Originally Posted by Lucius_Silvermane

Are you part of the OAH (Occupy Auction House) movement or somethin?!? Feeling like a self proclaimed 99%er. Well a pipplyboop on you my friend. Back in the day I would sell at those prices and happily.....price gouging you say. Not likely...aint too difficult to go out and mine it yerself. You and others are paying for a convenience. Now........about this bridge I got.....

Im with this guy (mainly because he used Pipplyboop in a reply). No price controls in the AH ! Anything in the AH is obtainable outside of it

Originally Posted by Stu_NZ

And before anybody claims free market - the supplier being able to make demands is very definitely NOT free market.

Er, I don't think you understand the basic principle of a free market: sellers are FREE to set prices they wish and buyers are FREE not to pay those prices if they think they're too high, in this game they're even able to go and get the items from their sources if they choose, nothing on the AH is exclusive to only some players.

Originally Posted by Stu_NZ

The prices you see are server dependent, and 'normal' can vary a lot. But yeah, the AH has issues and there is nothing to stop, or even discourage, sellers from having a wildly over priced first bid to try and over-inflate the price.

And before anybody claims free market - the supplier being able to make demands is very definitely NOT free market.

This topic has gone around the block a number of times.

The high prices on the AH, IF people are actually paying them, show a high demand that YOU, yes YOU, are being invited to fill. If there is really a vast demand for dwarf-iron, well, get go out and mine some. Sell it. Profit, and have happy customers who aren't inclined to spend the time to gather it themselves and want to trade their money for your game time. That price (5 gold for 50 lowish level ingots) does seem a bit high to ME, as in I'd not pay it. But nor am I outraged by it.

IMHO, there are issues with the AH pricing, btw. But they are more related to the huge numbers of different types of goods and erratic supply for most of them. The market would work "better" in terms of converging on more consistent prices if it were bigger, as in cross servers. The prices arrived at may not be what YOU think are reasonable, btw, but rather are a market driven consensus of all suppliers and buyers about what the market value of items is. A larger market would also be tougher to manipulate by those who want to try to corner markets in specific items... And pricing history information would likewise be helpful for folks to know if a price is in line with the past or not...

I sense an opportunity here and may spend some time mining for lower level mats. This opportunity is open to anyone who can mine, so if you don't want to spend the gold, spend the time to get it yourself.

Simply don't buy.
If it really is overpriced, it won't sell and seller is left with stack and lost the money to put it in AH.

You can always send the seller an message and offer a price for the stack.
( I found out this weekend you can actually mail items with a money lock on them. receiver has to pay to unlock the items from the e-mail. So this is even save)

Originally Posted by DelgonTheWise

And pricing history information would likewise be helpful for folks to know if a price is in line with the past or not...

This would be a big help for serious sellers that want to move product. Good for the customers. I hate getting stuff back from my one day auctions. At the same time I want to get a 'fair" price - what people are willing to pay. It is also nice to know if there is a reasonable volume of the product.

This having to look at over priced goods that nobody buys. Undercut. Comes back. Undercut some more. Comes back. Finally a week later I find what the value of the item is. I do not want to go through this hassle.

In Eve Online, I will look at the market report. One unit sold in 90 days. Not going to bother building one of those ships for sale in this region. If I make one of these. I am going to have to fly it myself to a region with buyers. If I can not fly it, I have to hire a pilot - one that I trust will not steal it.

Pricing History information is one of those sane reasonable eminently useful things that would make the AH into a booming feature -- so I'm guessing it will never be implemented, like having a good housing system, reasonable itemization at all levels, etcetera, ad nauseum.

Anything you see in the AH - remember this - has *not* sold. I ignore prices that don't have bids on them when I'm trying to price something.

As a general rule, I'll ask for up to 10 silver for something up to 10th level, up to 100 silver for something up to 20th level, up to 200 silver for something up to 30th, etc. For mats, I ask for somewhere between 10 silver each and 50 silver each, depending on rarity and difficulty to acquire. I can get 100 khazad-iron in almost no time, but 100 rune-carved tablets is something else. I don't sell based on other people's prices most of the time, I sell based on my time and investment.

On occasion, I'll fire up a crafter, make 50 of something that is overpriced on the AH, and dump them all on for 1/3rd to 1/2 the price listed, or even lower. It tends to put a damper on expectations and gives me a chuckle, and lots of people get gear they can use at a more reasonable rate. I will never forget the day I put 10 of each piece of Malledhrim armor into the AH for 100 sp each over what I'd had to pay for mats and stuff. 6-8 of them sold within 12 hours, and the rest sat there and irritated overpricing sellers.

On my server, there is a single Draigoch scale listed for 350 gold. No way this is normal, but I can live with the fact that this will very likely not sell.

Horray for the free market! I'm free to walk away from this ridiculously priced listing, and this individual is free to stick that scale up where the sun don't shine.

Seriously though, I list things very fairly. I find more fun in selling goods away regularly to people I know could use them.

Only 1 thing to add to this:

In the cases of something like 2 dwarf-iron ore for 5gold beware that it could possibly a real world cash transaction going down. Not gonna go into the details of how the deals transpire. Have seen it in other games too many times before to not be highly suspicous whenever I see something like 2 barrow ore for 10 gold or some such though. If Turbine will put the buyer and seller of such under observation they may get rid of some undesirables.

I became frustrated in my lvl 30s at either the lack of items I needed in the AH (dwarf steel plate I needed for a crit bow for example that I could neither find in the AH or in the trade channel) or the over-priced items in the AH. I quit my woodworking career (which i had already amassed xp in the guild i might add) became an explorer and created an army of crafting alts to whom I farm out resources.

sooo much easier than relying on the unreliable AH.

I always throw stuff into the AH cheap for that reason. There is no reason low level stuff should be ridiculously expensive. Its hard to amass crazy amounts of wealth when you are just starting out, especially if you want to do a difficult trade. Seriously, there are utterly ridiculous prices in the AH for low level stuff. Even if I were rich I would refuse to buy it on principle. Once you are higher level its not overly hard to make money, there is no reason to charge ridiculous prices for low level stuff that players just starting the game may need.

now if only I could find reasonably priced class craft trophies, then I would be sitting pretty!

The price of laziness. The problem is you make so much gold at end game and not many people are farming lower tier stuff. So the few people that do, see that it's rare and post it really high because there is no competition. The Jeweler ore/ingots are the worst. The ratio is more than 3:1 metal/jeweler. I usually have over 3 stacks of iron before I top off a stack of gold/plat/etc. It takes well over an hour for a stack of jeweler ores. And it's so bad that I use the T7 crafting scrolls just for a better crit chance with them.

The only way to not pay that much is to go and get it yourself.

What you describe is one of the most basic principles of economics. The potential to make such exorbitant profits will likely provoke others to say, "wow, if he can make that much, so can I." This will lead to others prospecting which will theoretically drive the price down by virtue of competition. To me, seeing such high prices just makes the decision of which profession to pick all the easier. Why waste all that time both prospecting and crafting when I can just make huge profits from gathering and just buy whatever the hell I want?