Tuesday, June 28, 2011

Promote higher prices

I've said many times that almost everything in rift is being sold under materials, so today I'm going to give a short look on my thoughts on how to "fix" this situation. Granted one person isn't going to change the world over night, but you can at least get things rolling. This is actually something that I haven't done before and am pretty excited to see how it works out.

I'm going to lose a few plat on deposit fees over the course of a couple weeks but it might be well worth it in the long run. And you know me, I always plan for next month instead of next week. Since this is just a theory this is going to be a shorter entry than my typical wall o' text that I love oh so much.

First is the plan. Any time I see a bunch of runes up for 10g when it costs something like 90g to craft I'll list mine at 1.5 plat. In other words, I'll base the price I list at on the current low under mat cost and my default fall back prices and guess at what their average market value would be if it was placed in a healthy economy. I'm not undercutting holy crap I know! I'm going to be doing the exact opposite and doing it during prime time mid afternoon.

Now here's why I'm doing this. People that are selling for chump change compared to the material prices KNOW that they're selling at a huge loss and are willing to accept that fact. Anytime I power leveled a profession in wow I knew I was selling at a loss and losing a ton of gold up front and so did the people that had no idea about in game economics.

It is just that obvious. So the idea here is that by always having something up for a high but still reasonable price people might wise up. They could easily get to thinking "ya know I want to sell this crap to make some cash back, but why not go a tad higher and get more?" All of these overhead auctions will be listed for 48 hours so that when the 10g auctions expire they'll relist and see me up for 1-3 plat and think twice about auctioning them for a few coins over the vendor price.

Because runes DO sell and sell often, but people aren't listing them for a profit. So this is my attempt to clue people into the fact that they can get sales and they can turn a profit. My hope is that this will help raise prices up to a profitable level a bit sooner rather than later. I am really excited to see how this pans out, I'll be keeping track of dates, times and prices for a few weeks. During which time I'll update you all on when something of note happens which includes a string of nothing happening at all.

And to cap it all off, there's one last potential benefit of doing this. By default the AH listings show the highest price up top. So with a bit of luck I can catch a few "oops" sales by accident. People may just expect that the cheapest is shown first (which I really hope they make default soon btw) and buy whatever is up top. In this case it'll be me with my nominally priced rune at 2 plat and not 10g.

Thanks for stopping by!

1 comment:

  1. Yow bro! =) wanna Link my blog and I link yours ? =)
    Left comment earlier about this dunno if u noticed =)
    if possible answer at: