Economy Ground to Halt

Discussion in 'General Discussion' started by Zeddicus Zorander, Aug 8, 2018.

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  1. SmokerKGB

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    Sorry, but you're wrong... Competition is the key to a Free marketplace, when consumers see "uniform" pricing, they usually leave and search the next vendor or go out a "work" to get their own supplies... I do it all the time, the game is rigged so that I can't farm my own supplies and make 1,000 of an item, but if I were to buy all my supplies, I can't make any profit, so I farm my own and supply what I can, at a reasonable markup, and get the sales... Since the supplies are "Free" with only fuel cost, my profit margin is very big, even if I do only have sales every month... My vendor is always stocked, as I can keep up with demand... I'm off the beaten path, and have repeat customers...

    I wonder "why" the lot in Solania is for sale? Could it be that they could not make enough gold to pay the Taxes? Then went out of business, and now are selling?

    Higher population is not the key, competition is... Uniform pricing is not the key, competition is...
     
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  2. SmokerKGB

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    This is a nice tool, thanks for posting it...

    Now for my dumb question: Where in the tool does it give location of the vendor? Or are those Town names? It would be nice to have the vendor location and to be able to filter 1 item, then get hi/lo price for all offerings...
     
  3. Elrond

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    The tools is new so probably work in progress ..i think they plan to add more stuff to it...if you click on an item in the list it shows hi and low sales... would like to see location of town where sales took place too if we suggest it , they will probably add it.
     
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  4. idaniod

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    That's strange.. because when I look at that list... and I sell out of Soltown primarily... I don't see most of the items on that list that I sell on a regular basis..
     
  5. Olthadir

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    My understanding is that the functionality to put receipts on a user's hard drive to allow them to be uploaded (or read through) was a recent change. I only have the last three months.

    Also, if the economy was better before, then I am excited. I'll be making thousands if it returns back. I just got into selling things and am enjoying it!
     
  6. Olthadir

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    Sellers have to upload their sales receipts to the site. So any 'missing information' is simply because people are unaware, unwilling or unable to upload their receipts.

    (also, don't add any of your receipts until after August 31 so I have a better chance of winning one of shawn's prizes!)
     
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  7. Alioth

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    I beg to differ on the state of the economy. The economy seems much, much more robust than I had anticipated. Now, granted, this is me coming in as a relatively new player. I only started about a week before launch, so I cannot comment as to what the economy was like before I started playing. I had been very nervous when I opened my first shop that I would not be able to make the monthly taxes on a row lot. I have since found that it if you price items accordingly to sell, and not for the most commonly listed amount, that it is quite doable to pay rent and then some running a shop. @Titania Xylia 's tool and price list gives a huge window into the economy. The data only represents what was voluntarily uploaded since I believe June 23rd. Of that, it shows since the time of this writing, "266 receipts added in last 24 hours. 30,864 receipts and 3,802,251 items sold!" Now that is a lot of items. Furthermore, you can see the average, min, and max pricing for each and every item receipt contributed. It is a HUGE asset to folks trying to figure out market pricing. You can easily copy paste the whole data set into excel and take a look further, if you like. Doing that, you can see there is something like 931,201,308
    354,911,070* gold that has moved hands collectively in the last 45-50 or so days since the tool started, and that is only including what there are submitted receipts for. Now the scale of this economy kind of boggled my brain, but again, I am new here, so maybe it was more robust in the past. Another wonderful tool that has come out for vendors is @OxNull 's OCR Vendor List nulltrading.com - this tool allows you to post a vendor's inventory, and then scans the inventory to make it all searchable. If you haven't, try it out. Not a lot of vendors using it yet, but all of the Crown vendors are on there, and the more players who start to list there, the more I think that seller competition will increase and buyers will get better prices all around. Just my two cents, but from my perspective, if you aren't selling, try moving locations, try lowering prices, try advertising on the forums or on discord. All of those things help, and running a shop can be both profitable and a lot of fun.

    *Edit: Looking over the data bit further, there are some pricing discrepancies in the average prices of several of the more common items being sold, and I suspect the first number I posted is likely in error. Summing just the sales total from all towns on the Top Towns list, however, the sum is still quite high, at over 350 million gold since the tool was started. Hopefully @Titania Xylia will put together a "Market Health" type page showing total number of gold moved per month, total number of vendors submitting receipts, and total number of unique customers purchasing items.
     
    Last edited: Aug 9, 2018
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  8. Vladamir Begemot

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    FYI on the ShroudoftheAvatar.net tool, you get your data by deleting your mail. It is saved in the data folder of Shroud, which you can easily find by typing /datafolder in your chat window. Deleted Mail is the subfolder you are looking for, or Discarded Mail, something like that.

    You can upload your receipts from last month too, it handles it well and only records your items once. Then you can look at them in a useful way, hopefully more options for that coming. Supposedly .csv export coming soon as well. JSON exports available now.

    Highly recommended. And no I'm not the top seller, I just hadn't deleted my mail since March, so had a huge pile to upload when the moment came. :)
     
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  9. Rowell

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    I have 3 vendors; 2 in Novia Market (deco on one, mid-level weapons and artifacts on the other) and 1 in Brittany Fields (mostly deco, low level gear and misc stuff).

    I'm seeing good sales at my deco merchant, slow sales at my weapons/artifacts merchant, and no sales in Brittany Fields.
    My thinking is that location and prices are the biggest factors in selling items. I try to keep my prices low/fair, and it seems to be working for me.
     
  10. Arkah EMPstrike

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    One big drawback is that many of the quantities posted for sale/buy far exceed what the average person aquires in an hour or 2, which the devs intend to fix with flexible orders in the future.

    The other biggest problem imo is Location. There is a market hub in game and very few people shop outside those areas, i personally just use vendors i know have what i need, because going town to town is pretty tedious and time comsuming

    The link vladamir provided above is a decent resource to see what some vendors have been selling, wuantity price and location, so naturally its a good way to advertise, tho you would have to purchase your own stock through an alt account to get it on the site if no traffic comes through
     
  11. Arkah EMPstrike

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    Also, it takes more than just alot of stocked vendors to make a successful market.

    Making it easy for the customer to reliably and consistantly find what they need is a very huge factor in success
     
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  12. Talimar

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    As a crafter, I also am rather picky in what I will purchase; and how I accrue the items. I absolutely loathe t2 ingots pre-made and various other basic materials are no longer on market. This makes creation of better gear slower. This means it takes longer to accrue enough materials to make too many things so that they are at least not mediocre once complete.

    Some of the key items people want however are still way overpriced. For purchasing/subsidizing some of the time spent farming for tin; Even the pricing of daggers would start off at 3-4k just for the bad ones currently.

    (I haven't spread my cash around as much as I usually do though; as there was a good supplier of 1k batches recently. They made quite a bit of money off of me this month.)
     
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  13. Anpu

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    I just know for myself, I spent several days scouting out vendors who sell stuff at very good prices. I checked the usual Market Towns, and some of the near by ones too. I now have a spreadsheet titled The Vendors Who Sell Stuff For Good Prices and I buy all my stuff from them.

    I do check other vendors from time to time, like I was just in Aerie, and happened upon a vendor I hadn’t seen before. I clicked on the vendor and immediately scrolled down to recipes. And just like all the other times I do check, I looked at the prices, and said LOL nope! And closed the window and left. Never to return. :)
     
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  14. Vladamir Begemot

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    One thing that I think would really help is using the town crier to ping vendors that have the item you are looking for. But the bandwidth to check all vendors at once is probably too much, might not be doable at all.
     
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  15. 2112Starman

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    Its actually a good thing believe it or not. Not for you and I selling things but for the economy. People are dumping massive volumes of gold into crafting during 2x crafting. I sell ornates so my sells suck but if I was farming and selling ore and wood, I would be making a fortune right now.

    Try finding some wood for sale right now. If you do, it has increased 2x in the past 2 months. This is because there are items made of wood in crafting that give a LOT of XP and people are chain crafting them. If you doubt it, I have 100 catapults sitting in my house right now as a trap for someone who walks in the door. Im also having a hard time now finding ore.
     
  16. Spoon

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    However the old suggestion (which you have in your list) in that one could add one sentance to each vendor which can be viewed at the town crier would be relatively easy to implement and would improve finding things by a huge amount.
    That way one could advertise the way it is supposed - at the town crier - then visitors can keep the lot list open and set the compass point to places one would like to visit.
    *sigh*
     
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  17. Gurdrith Agraos

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    As a new player I feel like everything is overpriced. Perhaps it's because I assume the vendors in the starting areas are specifically there to rip me off, or perhaps it's because I was making maybe 100 gold a day in profits after training and such. If we as new players had a better understanding of standard market pricing then I feel items would be moving a bit quicker in those regions.
     
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  18. Alioth

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    Same. Working hard to lower prices. I paid 10-15k per for bowyer recipes to get started making bows, cause I couldn’t find them cheaper anywhere. Do like @Jaesun is doing and make your sheet of goto vendors, and price check with the new pricing tool.
     
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  19. Vladamir Begemot

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    First, note that you can and should IMO get by on your starter gear for a long Tim, with the exception of your weapon.

    If you want to get gear, the public vendors often have it for a give away price because someone is dumping their mediocre crafting stuff. If you see a meteoric, bronze, carpacian etc piece for under a few thousand gold it's probably a good deal.

    Use ctrl to see if it is exceptional. If it is, it's worth 4x a normal piece as only one in four is exceptional.

    At S Mart if you see a non exceptional piece, it is priced at under the crafting cost. Exceptionals are over. We put more non exceptional pieces in new player areas.

    Then use ctrl to see how many masterworks and enchants the item has. It cost the crafter 1000 gold roughly for each of those. That includes the failures, so expect to pay a bit more for the ones with no failures.

    If you want to message me in game I can tell you how much it cost the crafter to make the item vs the opportunity cost of just selling the materials.
     
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  20. Arradin

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    ..I was going to write a long complicated post, but i´ll just say this: That is not how an economy work.

    Please realise that its SUMMER, and now when people are slowly starting to return to normal, game numbers picks up

    ( I Notice good sales )
     
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