cRPG

cRPG => General Discussion => Topic started by: Lord_Panos on May 09, 2012, 03:04:06 pm

Title: And this is why Auctions fail hard.
Post by: Lord_Panos on May 09, 2012, 03:04:06 pm: The auction #31 ended with the highest bid at 806001 gold. The Powerful Elegant Poleaxe (rank 2, 3987584) was transferred to the winner and you received 765700 gold.

http://www.c-rpg.net/index.php?page=marketplace&id=202177

:wink:

Auctions were made to decrease the prices..

Edit because the link is broken...I made an auction for a +2 elegant poleaxe which okin bought from me for 800k,afte that he put it up on the market at the price of 900k.
Title: Re: And this is why Auctions fail hard.
Post by: dodnet on May 09, 2012, 03:10:38 pm: Thats capitalism, take it from the poor, sell it to the rich :P
Title: Re: And this is why Auctions fail hard.
Post by: Grumbs on May 09, 2012, 03:10:54 pm: Auctions are always a way for people to get bargains but sometimes you will get good prices too. At least you are nearly guaranteed to sell it with no fuss, just put the auction up and your item will sell in whatever time frame you give. Some auctions with keen bidders could go for a high price, just depends on a bit of luck and the time/day the auction ends
Title: Re: And this is why Auctions fail hard.
Post by: Sir_Ironlake on May 09, 2012, 03:18:05 pm: Well you have to realize that the price asked for on the market ISNT the real value. Its always above real value, since its an offer that is NOT accepted by anyone.

So when you auction an item for ~800k that is on the market offered for 900k, I think that 800k is the "realistic" price, or at least closer to it.
Title: Re: And this is why Auctions fail hard.
Post by: okiN on May 09, 2012, 03:25:16 pm: What are you complaining about? Actually, I was just thinking to myself I made a mistake offering so much. If you pay me back the money I spent (850k because of tax), I'll just as soon give it back to you.

If not, you can just buzz off, I'll see if I can make a little money off it. If you're not happy with that price, you shouldn't have put it up in the first place.
Title: Re: And this is why Auctions fail hard.
Post by: Lord_Panos on May 09, 2012, 03:30:38 pm: you got me all wrong mate i aint complaing i`m just pointing out that auctions are useless :wink:
Title: Re: And this is why Auctions fail hard.
Post by: okiN on May 09, 2012, 03:38:49 pm: Yeah, I wouldn't use 'em. They're good for a quick buck if you need cash in a hurry, but you can sell for more on the market.

I'm more concerned about the taxes, really. They force people to drive prices higher and higher to turn a profit, or even avoid making a loss.
Title: Re: And this is why Auctions fail hard.
Post by: Herkkutatti on May 09, 2012, 04:10:39 pm: I hope my mighty elegant pole will get more bids :S
Title: Re: And this is why Auctions fail hard.
Post by: PanPan on May 09, 2012, 04:16:38 pm: Yeh Today I bought a +1 Danish for 300k gold and then I sold it for 330k gold yay profits of 14k gold ...
Title: Re: And this is why Auctions fail hard.
Post by: Nessaj on May 09, 2012, 04:23:32 pm: visitors can't see pics , please register or login
Title: Re: And this is why Auctions fail hard.
Post by: polkafranzi on May 09, 2012, 04:37:16 pm: community needs more Robin Hoods, or more of
this guy
<-----
Title: Re: And this is why Auctions fail hard.
Post by: LordBerenger on May 09, 2012, 04:38:18 pm: OMG my stomach DAT GUY ^
Title: Re: And this is why Auctions fail hard.
Post by: dodnet on May 09, 2012, 04:39:57 pm: Quote from: CountBerenger on May 09, 2012, 04:38:18 pm
OMG my stomach

I told you not to look into the mirror. Now you have it!
Title: Re: And this is why Auctions fail hard.
Post by: Herkkutatti on May 09, 2012, 04:40:32 pm: Quote from: polkafranzi on May 09, 2012, 04:37:16 pm
community needs more Robin Hoods, or more of
this guy
<-----
Community needs more thieves?
Title: Re: And this is why Auctions fail hard.
Post by: LordBerenger on May 09, 2012, 04:40:56 pm: Quote from: dodnet on May 09, 2012, 04:39:57 pm
I told you not to look into the mirror. Now you have it!

Unoriginal ye derp! Now stop going off topic. We talking about this hilarious man.
Title: Re: And this is why Auctions fail hard.
Post by: polkafranzi on May 09, 2012, 04:48:24 pm: Quote from: CountBerenger on May 09, 2012, 04:40:56 pm
Unoriginal ye derp! Now stop going off topic. We talking about this hilarious man.

Who me?
(click to show/hide)
visitors can't see pics , please register or login
Title: Re: And this is why Auctions fail hard.
Post by: MrShine on May 09, 2012, 05:05:00 pm: As a seller, I would never put anything on the auction house because no one will actively buy something for higher than the lowest offer of that item on the market. One exception would be if someone places a high bid on your item, and then that same item pops up for cheaper on the market later. They can't retract their bid and no one else would overbid them so they're stuck.

As a buyer, I love the auction house because you might be able to get a bargain. Of course you'll have to keep this silly 5% tax in mind if you wish to resell it...
Title: Re: And this is why Auctions fail hard.
Post by: Leshma on May 09, 2012, 06:44:23 pm: 1.25 mil seems cheap for MW Danish GS...
Title: Re: And this is why Auctions fail hard.
Post by: bosco on May 09, 2012, 06:46:55 pm: Selling DGS at the moment is asking to lose loadsa money, I'd rather keep it locked somewhere than sell it.
Title: Re: And this is why Auctions fail hard.
Post by: MrShine on May 09, 2012, 07:10:29 pm: The +3 MW Danish up right now is going for ~1.22 million.

To resell you would need to list at 1.28 million just to break even. The profit margin is practically nonexistent.

Another reason the 5% tax is dumb.
Title: Re: And this is why Auctions fail hard.
Post by: Leshma on May 09, 2012, 07:13:42 pm: You can exchange it for something equally good. Why does everyone think that main purpose of marketplace is making money by reselling stuff...
Title: Re: And this is why Auctions fail hard.
Post by: MrShine on May 09, 2012, 07:20:23 pm: cuz it is
Title: Re: And this is why Auctions fail hard.
Post by: Leshma on May 09, 2012, 07:21:53 pm: Nope.
Title: Re: And this is why Auctions fail hard.
Post by: Fluffy_Muffin on May 09, 2012, 07:22:52 pm: Lol Okin you buying everything from the auction?
Title: Re: And this is why Auctions fail hard.
Post by: okiN on May 09, 2012, 07:40:08 pm: Yeah, I made both of those bids last night without really thinking about them, but actually due to the tax it'll probably take me a while to even make my own back. Going to have to be more careful about what I buy from now on.

Quote from: Leshma on May 09, 2012, 06:44:23 pm
1.25 mil seems cheap for MW Danish GS...

It's really not, I overpaid.
Title: Re: And this is why Auctions fail hard.
Post by: Leshma on May 09, 2012, 07:52:03 pm: So prices are going down.

Last time I bought a proper weapon, Miaodao was cheapest by far with 1.2 mil price tag. Danishes were 1.4 mil gold.
Title: Re: And this is why Auctions fail hard.
Post by: Herkkutatti on May 09, 2012, 08:01:31 pm: Danishes never were 1,4m
Title: Re: And this is why Auctions fail hard.
Post by: okiN on May 09, 2012, 08:04:23 pm: The going rate is 1.3M, so that's what I'm selling it for. It'll allow me to get back what I spent on the auction.
Title: Re: And this is why Auctions fail hard.
Post by: Mlekce on May 09, 2012, 08:04:48 pm: i remember 2 moths ago +1 danish gs was arround 500-600k. moust wanted item. Now you can't sell it for 400k. +3 barely 1.3.
Title: Re: And this is why Auctions fail hard.
Post by: okiN on May 09, 2012, 08:10:34 pm: It's not that bad, I sold a +1 Danish for 450k a week or so back.
Title: Re: And this is why Auctions fail hard.
Post by: Fluffy_Muffin on May 09, 2012, 08:30:20 pm: You can sell anything above the usual price, you just have to be patient
Title: Re: And this is why Auctions fail hard.
Post by: FRANK_THE_TANK on May 10, 2012, 07:21:25 am: Auction system is broken and should be taken down ASAP and then fixed.
Title: Re: And this is why Auctions fail hard.
Post by: Cepeshi on May 10, 2012, 07:53:20 am: So, how exactly does the auction work? You have to put up some random number or? As when i try to raise the maximum bid, it always says i am not the highest bidder and that the highest bid is 1 gold more...wtf?
Title: Re: And this is why Auctions fail hard.
Post by: Slamz on May 10, 2012, 08:57:28 am: There's nothing wrong with the auction system.

I would use it for things that I'm unsure of the value of, or things that don't commonly sell and I just want to get rid of it, e.g., +1 Light Lance or +2 Throwing Dagger or something like that, where I might well be happy with something under the normal value.

I also suspect it's going to be good for selling heirloom points.

It's also slightly faster than putting something up for sale in trade for a week, not having it sell, then lowering the price, then not having it sell for another week, then lowering the price again...two months later you finally find the price point and sell it. Auction can accomplish this over a few days.

Also note that auctions tend to be slow and lazy until the day of the sale. Most people don't want to commit a million gold to sit on a bid for a week, so don't get too excited when you see a +3 for 300k. It's worth a shot to put in your own bid but you'll want to check back on it in the final hours because it will probably get jacked up quite suddenly.

Also note the way the system works is pretty good:

Serge bids 50,000 for an item.
Namo bids 1,000,000 for the same item.
The auction price is now 50,001.
Serge sees this and bids 60,000.
He is instantly outbid and the auction price goes to 60,001 -- Namo's bid is still active and winning.
Serge bids 1,200,000.
The auction price is now 1,000,001 and Namo gets his money back; Serge is now top bidder.

So you should really plug in the highest price you are willing to pay. It will only go as high as someone else's max bid. If you see the price is 50k and you are willing to pay 1.5 million, go ahead and plug in 1.5 million. You will automatically outbid (by 1 gold) anyone who offers less.

Of course, people can try to artificially jack up prices (and perhaps use a friend to do sort of a "reserve price") but they have no idea what the real max bid is and if they go over it, they could be stuck with buying the item (and any attempt to do a reserve could end up costing you 5% of the gold if the reserve isn't met).
Title: Re: And this is why Auctions fail hard.
Post by: Lt_Anders on May 10, 2012, 04:36:29 pm: Why don't they allow a reserve bid, IE starting amount/minimum amount?
Title: Re: And this is why Auctions fail hard.
Post by: Kafein on May 10, 2012, 05:38:23 pm: Quote from: MrShine on May 09, 2012, 07:10:29 pm
The +3 MW Danish up right now is going for ~1.22 million.

To resell you would need to list at 1.28 million just to break even. The profit margin is practically nonexistent.

Another reason the 5% tax is dumb.

Nope. Taking a share of the profit made through trading acheives two goals :

- Putting money out of the system
- Reducing the profit margins of pure trading. This helps keeping the marketplace lightweight (in the past you could make dozens of 1k profit buy&resell trades and it worked), now you really need to find a good deal in order to make a pure trading profit, or actually trading items vs other items. The money obtained through trading is partially used to fight inflation. It is litteraly being taken from hardcore traders (mostly), not your average cRPG middle class soldier that sometimes uses the market to switch heirlooms, which is fine.

The only lacking thing in the auction system currently is the possibility to set a minimum bid but that is coming soon iirc.
Title: Re: And this is why Auctions fail hard.
Post by: MrShine on May 10, 2012, 07:12:51 pm: Quote from: Kafein on May 10, 2012, 05:38:23 pm
Nope. Taking a share of the profit made through trading acheives two goals :

- Putting money out of the system
- Reducing the profit margins of pure trading. This helps keeping the marketplace lightweight (in the past you could make dozens of 1k profit buy&resell trades and it worked), now you really need to find a good deal in order to make a pure trading profit, or actually trading items vs other items. The money obtained through trading is partially used to fight inflation. It is litteraly being taken from hardcore traders (mostly), not your average cRPG middle class soldier that sometimes uses the market to switch heirlooms, which is fine.

The only lacking thing in the auction system currently is the possibility to set a minimum bid but that is coming soon iirc.

reducing the profit margin from pure trading aka it's harder for the less wealthy players to become wealthy through trading. The rich are still rich, and will be considerably richer by comparison b/c those below will never be able to catch up.

But again, why is it a bad thing hardcore traders have a lot of money? Why is gold in the system a bad thing? People keep talking about how taking the rich down a peg is a good thing, but how exactly does it help those who have less? (hint: it doesn't)