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The Gaian Economy
  Makes no sense.
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Deciare

PostPosted: Tue Oct 17, 2006 6:19 pm


Laurentia
People have a right to waste their pixel gold by buying set-price store items for more than they would cost at the NPC shops.

But I wouldn't call it convenient to buy items for a higher price in the Marketplace versus the shops. We're just dealing with mouse-clicks and page loads. It's not as if it involved actually driving or walking to a different store. Convenience is a valid point only if there's an actual difference between the two options - time, distance, gas burned, etc.

There's no difference between clicking 'Buy Now' at the Marketplace and 'Buy Now' at the shop.

But I guess it comes down to the power of the buyers. Because some Gaians spend the outrageous amounts on store items, people sell them at those ridiculous prices.

There is a difference in the time it takes to enter an item's name into the marketplace's search box and the time it takes to navigate to the store, wait for all the graphics to load, then browse through the store's inventory page by page until you find the item you want, however. And if you had the wrong store in mind, you'd have to repeat the process with the next store.

And speaking of browsing, that's another thing: what if you don't know exactly what you want, are seeking inspiration for a new look, or just want to see what's trendy? The marketplace is more random, and therefore possibly more interesting, than NPC stores that always feature the same items in the same order.
PostPosted: Tue Oct 17, 2006 6:20 pm


KaguraOfTheWind
I'm one of those who actually always checks the store price line. Often if I find an item is only a few gold less than the store, I'd rather buy it fom the store so the gold is removed from the economy.

I have on one occasion though bough an item on the marketplace so cheap that I sold it back to the store and made a profit!

I would also rather buy the from store if the marketplace price isn't substantially discounted, but it's more to deny greedy sellers the satisfaction of making a sale than for the sake of removing gold from the economy. 3nodding

And it's always possible that having more of an item in circulation could make it cheaper, somehow. Consider the Jack Uniform Pants. xd

Deciare


Nadian
Crew

PostPosted: Sun Oct 22, 2006 10:11 am


Carl Fox
It looks like there are times when "caveat emptor" (let the buyer beware) goes out the window in the Marketplace. If you put a common item out there for more than its resale value in the shops, and someone buys it, it was their call not to double-check and see they could get it cheaper.

Now, game items...if I can get 5g or more per can from someone who's *thisclose* to completing their Tin Hat, that's a pretty good deal. With the harder-to-get stuff, supply and demand does have an effect.

...and high prices utimately drive down demand, which causes prices to drop. Eventually. smile

The only "caveat emptor" I'm familiar with has nothing to do with price but rather with the legality of items? For example, if you buy a cell phone from a Taxi Cab driver for $5 then "caveat emptor" would say that if that cell phone turned out stolen you're out $5. Or were you, perhaps, just talking about the notion of "buyer beware" in general?

About shop items on the market place being more expensive, I don't think it's as unlikely as it may seem, really.

-The people who price it under the shop will sell relatively fast (taking into account that not everybody goes to the market to find the price.)

-The people who price it at the shop value will sell kind of frequently... people might just buy it there for convenience.

-The people who price it over the shop value wiil sell it rarely (although 1 post's worth of gold value over might do okay.)


Something like this could build an illusion of everybody pricing their stuff high if these items aren't being introduced into the marketplace very quickly. I imagine that people don't sell their really cheap clothing for a little gold all that often, and it has to be the same item as everybody else as well. I think this sets the case where people who overprice their items will hang around for a while, people who price their items well will sell fairly fast and will not likely be seen.

In addition, somebody who buys and sells for more is more likely to put a shop item into the marketplace, imo, even if they're fairly rare.

I think it sort of makes sense, but at the same time it doesn't, but the reason it doesn't is because there are stupid/ignorant people in the world (and on Gaia, too.) (If you don't believe they exist on Gaia then I suggest you think about the chain letter problem...)
PostPosted: Wed Nov 15, 2006 3:53 pm


This is why Gaia has such a poor economy

-The Gaian currency is limitless. After WWII when Germany was in debt, they thought they could get out of it by printing up more money, but they didn't have enough gold to back it up. So it led to a loaf of bread costing $1000 (exagerating a bit, but it was still a lot of money) Gaia's currency just keeps getting built up and built up. So people will put the prices on items high because there will always be enough money to buy them

-It's easier. Some people that know how to play the market really well will get store items and place them on the market for more gold then you buy them for in the store, and they still get bought because it's more convinient than going to the stores and looking through the pages and pages of items.

-People will put rarer items up on the market for cheap because they only need a little bit more gold to buy their quest item, and they don't like that item they'r selling. An AH pro will see this, buy it, and sell it for a higher price.

As to why prices in the AH go up, such as the Kiki or other donation items, is because there are only so many that you can get, as the site itself says, donation items are like daimonds, when they're gone, they're gone, after the month is over, you can never get that item again unless you buy it off somone else.

That's pretty much all I got.
And where it says AH, it's actually the marketplace. I'm just used to playing Warcraft, and the marketplace equivalent in shortform is AH(auction house)

zeropheonix


Erzsebet_TheBloodCountess

PostPosted: Tue Mar 20, 2007 6:20 pm


Martian Princess
I don't understand the Gaian economy. At all.

On certain other gaming sites, there are a limited number of items that appear in the shops at a set time interval, generally once every hour or half an hour, or less for certain very large sites like Neopets. Then, supply doesn't quite meet demand, and users are able to resell the items in their shops for an inflated price to people who are not as fast at getting them from the regular shops.

But on Gaia, we never run out of items. If I want some squid pants, I know that I can always go to the Barton Boutique and drop 500g for some squid pants. There will never be an issue of consumer competition, nor will Rufus ever tell me that he is sold out and I ought to go looking in user shops.

And yet every time I go to the market, expecting to find an item for the same price as it is in the shops, or at a discount, I am always shocked to discover that not only is the price not comprable, it is often thousands higher! For instance, I just went looking to see if anyone had more tokens than they knew what to do with and was selling them at a discount price, only to discover that the average price for a single token (worth 1g in the casino and never out of stock) was 100+! There were many being sold for 1000!

I am finding it difficult to believe that the economy of a site this size could be entirely driven by consumer ignorance. Are people actually making consistent money on their 10x more expensive store items? Why? What perversion of the laws of economics is occuring here?


When i sell items on teh Marketplace. I always look at other people's prices and automatically go lower. Like Example: I accidently bought a shirt i'd already had because *blushes* My equip inventory is getting quite large. Anyways said shirt cost me 313 gold. Now i don't want to sell it back because i made a mistake and only get half of my gold back so i sell it on the marketplace and set it for both buy and bid. I set buy price at 299 and starting bid price 290 i think. I didn't inflate ridiculously but i did kind inflate a little when i went to sell some extra mimzies *turns red* But i think inflation is just freaking wrong. It's different with Thank You Letters and stuff because those you can't buy for cheaper at the stores. Well you can but let's say you didn't even have a Gaia account when that Thank You Letter you want came out then you couldn't have. redface Sorry when i get to ranting and raving boy it's hard to stop. sweatdrop whee
PostPosted: Tue Mar 20, 2007 10:07 pm


Selfish Gaian fat cats annoy me for this very reason. I know the other half of the problem is that buyers foolishly give in, thus encouraging people to sell cheap/free items for a high price, but it still annoys the hell out of me.
When I sell an item, I try making the price reasonable; I don't tend to take advantage of...less educated Gaians.
One time, I saw a single sunflower selling for 1,000,000,000,000 or some big # like that. I balked: O.O

Ayniu

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Neearg of DOOM

PostPosted: Fri Apr 13, 2007 8:43 am


Not all people do that. I bought my kimono for about 115 gold less than the store price.

EDIT: But I find it shocking that people price something so common thats worth not even 1 gold so high.
PostPosted: Fri Apr 13, 2007 11:03 am


its greed pure and simple

idiotic randomness


Cosmic Kirby

PostPosted: Thu Apr 19, 2007 8:52 pm


one of the only ways gaia could fix it's rapidly less popular donation item system would be to have like 3 days where they become rare drops or boxes for events,

example a blue giftbox can give AFK or OMG hats

yes this would make some rich people made, but this would also decrease the overall price of items.

But time also remidies this, as more and more people join, more and more donation items are bought so the items will eventually even out to a more affordable price.

But if gaia has limited release items every month, and they are some of the most wanted items, they prices will continue to increase and eventually become out of control.
PostPosted: Sat Jun 09, 2007 12:21 pm


Yeah, the gaia economy is nuts. I am surprised that gaia is not requiring us to pay bills or any of that stuff. That would be a bad idea, so definitely do not suggest that to them. Yeah, making money is getting a bit harder, too, because the items are very expensive. I don't have that much money, so it will take me years to get anywhere.

Merrin Spicer


[brainvomit]

PostPosted: Sun Jun 10, 2007 4:24 am


I understand, if someone is asking for 4 g for ticket and selling 1000 of them at 4000 g or any other GAME items, but store items...dude.
They should but some sort of limiter, when they are selling those items. Like if someone is trying to sell Ribbon Skirt (which costs about 1320g and rarely seen under 2k at MP), the seller won't be able to sell it at higher than the store price.
I got wide attack, when I suggested this and putting store price to be seen clearer at MP. I never thought that there were really so many idiots, who are really selling things so overpriced.

I usually wonder, what kind of stupid people think that people buy things over store price and even more, what kind of stupid people do buy them over store price.
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