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Why are people killing the market on purpose?
I have seen this with a lot of recent items. It's completely normal that item prices drop during the first 1-2 days, and then settle on the real value. However, for example the new wings or also the tails in Abaddon. I put my wings at 14m, now, if you wanna undercut me, it would be fine to put it at 13m or 13.5m, but the next person put their wings at 3.5m. Also, different wings which I put on AH for 7m, were then put for 250k. I mean, you are killing the market for yourself as well. Why are people doing this? This is not how economy works. This means selling items that did cost real money for practically nothing. And once it sold for 250k because of some desperate crazy person, it will be almost impossible to rise the value again.
Now, there might be people saying "but wings shouldn't cost this much and Abaddon was overplayed!", but my common sense tells me that if there's a tail sitting on AH for 30m, as the only tail of its kind, you do not put yours for 5m, unless you wanna shoot yourself in the foot.
Comments
I'm curious about people's reasons, other than being desperate. But then again, they can't be that desperate if they sell for 250k.
If people want to sell low, let them be. No one is killing the market. The only ones who are killing most likely are the ones who like to sell crappy fashion for too high.
Yes it is a proper reply. People also like to quick sale and that's their right if they want to because they paid for it. If you feel cheated because you paid for it that's not their problem or ours.
It's a perfect reply. If you really honestly think you can sell the item at a much higher price, just buy it cheap and resell it at your price.
If you CAN'T sell it at your price because too many people are selling it cheap, then you need to lower your price to be competitive and suit the low demand.
If the demand were truly high then the low priced ones would sell out quickly only leaving the ones at your price.
Bam.
For example, if a certain item is valued usually at 1 million, and at that price, it may take a week or 2 to sell, if I happen to have let's say 10 of them available, but I need money; I'd price that at a big discount of maybe 30-50% lower than market value and buyers love lower prices and they sales of the items are completed within days. As a seller, I am ok with that discount, because usually the cost of obtaining many items is 0 gold, so as a seller, I have the luxury of undercutting prices and still make a good profit.
The best thing to do if a gacha drops something new or interesting in large numbers is to hang onto the item. If it's not a fancy new dress that a desperate fashionogi will pay 80m for, the price WILL drop as more gachas are opened. (Not might, will.) And when that happens, if you haven't sold it by day one or two, stick the item in your inventory and let it cook for a few months. Most "cheap" wings will eventually get back to the worth of a couple mil once the supply dries up. But don't expect to sell a pair of bizarrely-colored, hard-to-match wings for 15 mil just because they are wings.
What current event are you talking about? The gacha being around? People sell the wings high as soon as they come out and then lower the prices over time if they won't/don't sell.
Normally first 24 hours is hard to pick what to sell stuff at. Yesterday when the gacha came out. After an hour people were trying to sell the floral fairy wings for 25-45m. This morning they are down to 750k-2m.
First group of sellers would be hoping that the chance of obtaining it will be rare, so start out at a high price to try to get an eye for demand. Once there's a more steady supply starting to show up, the price will go down to lower levels until supply runs out, then prices would go up slightly depending on what is left.
Sorry, I had to rant.. And if you don't think that price undercutting like that doesn't happen in a rl market you better check again because it does.
i think the price reduce in a days gacha is crazy too...
Sometimes you really can't tell what people are going to pay for an item. While the dress-of-the-day usually fetches some kind of high price for the sake of rarity alone, just because an item is "rare" doesn't mean people will want it.