Auction/Base price system idea.

[lee8oi]

I got to thinking about the auction system. I noticed that we don't see much variation in the base price so its generally hard to tell the more realistic value an item can sell for. Some items are only show a base value of a few thousand plat but you find people eager to pay 100 times that. While other items won't even sell for their base price. So I figure we need a system that works like the stock market. Where prices fluctuate and follow trends with the base price set to a moving average of sorts. Along with this of course we could have a system in place where players can lookup an items past price performance and rating to get a better idea of whether its a good time to buy/sell items and ideal prices to aim for. Of course this is just the base price system so the price modifiers can still be applied. I know this is probably a far fetched idea and won't see the light of day in ddo but if a system like this was implemented. I most certainly would spend more time using the auction house to buy/sell things. Good investors would benefit from its fine tuned use, and general users can auction things at normal prices and be confident its a more realistic price that pops up by default rather then having to ask around and hope people don't lie (never, we're innocent right?).

[somenewnoob]

Runescape used to have something like this when you sold something on the grand exchange, though I didn't mind it most people didn't seem to like it because it instituted price caps and minimums based on what was being sold/bought and at what price. It Also led to price manipulation quite a few times (with whole guilds dedicated to price manipulation) and I think that would be the major drawback of doing something like this.

[MsEricka]

/not signed

While it may sound like a good idea, it is overly complicated and unnecessary and adds overhead to a system that works just fine.

[Harncw]

I think if someone is willing to buy it and if someone is willing to sell it...

It must have been priced right.

http://en.wikipedia.org/wiki/Laissez-faire

[Xenostrata]

Runescape used to have something like this when you sold something on the grand exchange, though I didn't mind it most people didn't seem to like it because it instituted price caps and minimums based on what was being sold/bought and at what price. It Also led to price manipulation quite a few times (with whole guilds dedicated to price manipulation) and I think that would be the major drawback of doing something like this.

This. If you get enough people to agree to buy really easily found items between each other for excessive amounts, then you could get masterwork arrows that the vendor will buy for 10k apiece.

[Cam_Neely]

you are recommending changes for a system that works quite well. Not the recipe for success.

*edit* if the base price is to low, then it will be bid up to the floor that you propose to implement. Ive never put a item in for a bit price higher then the auto base price. Never had an issue with that.

[Bobthesponge]

/no

The system is fine. Auctions have only a minimal relation to "base price" both here and IRL.

A baseball card can be bought for less than a dollar. If you get the right card it can eventually sell for thousands. If you bought a painting from Van Gogh in the 1800s then it would have been relatively cheap but will sell for millions today.

The point is there are many factors in an auction price, including rarity and usefulness. The system can not be blamed if you do not know the street value of an item.

The only hard truth is something is worth what is paid for it. If you sell a +1 dagger for 500K plat then, all logic aside, that dagger is worth 500K plat.

[somenewnoob]

I think eventually prices reach equilibrium based on supply and demand anyways.

If you are just looking for a price guide, check the AH before you buy/sell something or come to the forums for a price check.

After a while you get a feel for what will and won't sell and at what prices. I've tried selling things high, not gotten an offer, adjusted the price down and sold it at a price I was satisfied with.

[Kinryu]

I use the Search feature at the AH to determine what kind of price to set my item at. Simply take the lowest price and post your item slightly cheaper (provided that your net revenue does not fall below what you'd receive from he vendor).

You're idea has merit, but I just don't think it would work in this game.

[somenewnoob]

I use the Search feature at the AH to determine what kind of price to set my item at. Simply take the lowest price and post your item slightly cheaper (provided that your net revenue does not fall below what you'd receive from he vendor).

This is what I do too. Sell it just a little below the lowest I see if it is still > (posting fee + ah commission + what you can get at vendor)

That's what I've been doing since I got my newb rear off Korthos! And it works.

[donfilibuster]

An idea that could be simple to implement is grouping the items with the same name in a collapsible manner.