On going and Interesting Coto market

Discussion in 'General Discussion' started by Brass Knuckles, Feb 19, 2019.

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  1. Brass Knuckles

    Brass Knuckles Avatar

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    ive found the current coto market interesting to watch. Currently it’s hard or nearly impossible to find a coto seller, additionally most the previous coto sellers are advertising almost a 10k per coto buy price. I remember when Chris said the target price for coto will end up at about 4K per I also remember them one time selling at 1k per coto. Obviously the addition to what you can do with cotos has drastically changed this market I’m glad to see a premium currency that has value, this has become a effective sink and has created real rarity and I’m sure portal is generating more and more sales from people buying cotos.

    I’d like to see other improved sinks for things like ancient essences, lich skulls, skeleton bones, and all the various junk drop we currently are getting. Imop supply and demand has been borked for this economy for way to long. Seeing how fast the coto market has changed has been impressive great work portal.
     
  2. infernal

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    they should make ancient essences what you use for major repair.
     
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  3. Vladamir Begemot

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    I wish you could scrap artifacts and have a chance to get their specific power, which could then be applied to gear.
     
  4. Brass Knuckles

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    Well you can use them to repair artifacts but it could make sense for regular “major” repairs. I was thinking when you can build totems to scale player made dungeons possibly essence could be one of the required ingredients also.
     
  5. Lazlo

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    I don't remember the specifics, but in a recent live stream they were saying something about a deco/dungeon recipe that will require 100 lich skulls. I was very happy to hear that! I almost vendored a bunch of mine.
     
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  6. Sorthious

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    The COTO market, especially at those prices, is probably going to be a temporary thing. I stopped buying them off other players all together. Once everyone has upgraded their lots to the size they want, gotten all the dungeon pieces they want,etc., you will have a large amount of COTO's selling at 10k(or higher), that noone will want, or be able, to afford. Apparently people want to take advantage of the current demand for COTO's to make huge amounts of IGG, but at a point that demand will drop off and some will get stuck with lots of COTO's. While they will make a great profit initially, that bubble will eventually burst and the price of COTO's will have to come down.
     
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  7. Weins201

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    you do know that they are going to give us 100 COTOS for every one we have so 10K a piece will never happen again. If it does the game has made massive improvements. You are lucky if Cotos are worth 2K after all this washes out.
     
  8. Sorthious

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    Did not know about the manipulation of Coto's. I don't mind people making a profit on their Coto's, but 10k per is excessive. If people are comfortable spending that much per Coto thats up to them. I was just citing the reason I stopped buying them. Unless the prices of things you buy with Coto's changes, multiplying our current Coto's only temporarily eases the per Coto cost. Once those Coto's are exhausted, the price of Coto's will go back up again; especially if some new item that requires Coto's is added; as happened with the Dungeon Packs and now the Housing Upgrades. People try to gouge players in anticipation of new items that are only obtainable with Coto's. Yes, they will make a killing, but at the same time, those who buy Coto's to get potions, and other trivial things, will stop buying them until the prices come down. That's my take on it at least.
     
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  9. Brass Knuckles

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    I’ll admit- with the dried up coto market I’ve spent about $80 on cotos recently. I’ve plenty of gold and would totally be willing to pay 12k per coto vrs dropping $$ on em.
     
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  10. oplek

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    I did spend 10k each to make up the difference of about 20 COTOs I needed to upgrade a deed... but I don't see myself "participating" after that. It'd have to be sheer desperation.

    Port likes to say that they allow premium currency trade... but I don't know if that's going to be relevant anymore than them saying "it's technically possible for COTOs to drop as loot"
     
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  11. CatweazleX

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    The amount of COTO people have stored _and_ the prices will multiplied by 100. Only the scale changes, not more.
    When a deed upgrade is now 20 COTO it will become 2000 COTO with R63. Also, when one has stored 20 COTO they will have 2000 COTO.

    If the player COTO selling price is currently 10k per COTO it should become 100 gold per COTO. But i guess they will uses this small number to inflate the COTO selling price.
    Better might by increasing the package/stack size from 10 to 1000 and 5 to 500 instead of changing the selling price.

    Port. has set the tax-coto to 6K gold, will become 60 gold starting with R63. (if they use the 1:100 scale)
    I guess cotos will never be available for less then 60 gold each. Many moons ago they where available for less then the tax-coto but paying taxes and repairing items was the only thing one where able to do with them back these days.

    COTOs where dropping all the time, they increase the drop rate by 100. That means that COTOs drops 100 times more often as in the past, but they are also 100 times less "worth". In average it should the same time to get 100 COTOs dropped starting with R63 as the time needed to get 1 COTO dropped in releases before.

    This is far to inflated. When a COTO is 2k in R63 it is equal to 200K per COTO in all releases before.
     
  12. Weins201

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    this is why COTOs should have NEVER been used for taxes. It destroys any concept of Player generated economy. but what do I know.

    Coto's have actually been a Joke since implementation, when they were presented they were "going to be very valuable, and a very controlled and monitored drop rate"
     
  13. Spungwa

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    The COTO market is player driven, only the in game drop rate isn't. So we set the value not port.

    Completely agree, more demand for stuff is what is needed to "fix" the economy. Too much stuff with next to zero player demand reduces the liquidity of player market, why we have vendor full of the same junk that has been on them for a year. Usually if there is demand then growth and inflation in the economy should have made those items under priced to players. But with no demand there only value to the player base is the gold the NPC will give for it, which will never grow.

    Said many times in past few months, need mechanics that consumes stuff for player benefit that is not selling it to an NPC for gold. Or can be selling to the NPC for gold but ONLY after significant player time investment to justify the gold faucet.


    Regards
    Spung
     
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  14. Anpu

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    I’ve only found 3 COTO’s since release. Not sure where they are hiding.... will be interesting if I actually find even just one with the new rate. Doubt it though, but we will see...
     
  15. Woodchuck

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    The base COTO price is set by Port via the in-game crown store prices. Anything over and above this base 'official' price is player driven. (aka. the Phil and Titania COTO price collusion)

    There's a confluence of reasons for the broken economy.

    Demand is different for different classes of items.

    Demand is always there, and always high for essential crafting commodities that are not sold by NPC merchants (like ores, wood, etc.). The prices for these are free to move according to the market and are at an all-time high (at least during my time here) due to inflation.

    IGG is devaluing. Yet incumbent players are not spending. Because they all became self-sufficient from the previous game era where IGG was expensive (1M IGG = $100+ USD). Hence why the market is now flooded with reagents at low low prices yet hardly anyone buying.

    My vendors are hardly seeing any sales even though I haven't changed the prices to match inflation. And the scant sales I'm seeing are all from new players. Players that didn't witness the devaluation.

    It's the vicious psychology of witnessing your money lose value and prices going up. People are less apt to spend. Why would anyone want to pay higher prices for stuff they used to pay much less for, and with money that is worth less and less?

    Not sure what can be done, economy might be beyond help at this point.
     
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  16. Jason_M

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    My experience is the opposite. It's true that people aren't buying, and as a result prices for everything is low (except for COTOs and the more specific recipes).

    Many manufactured products don't sell for much more than the price of their components.
     
  17. Spungwa

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    Not true, wood price was tanking, went below 20 gold per unit UNTIL brewing came along and casks need a lot of wood. So the price increased, it's all simple supply and demand. However there is not enough consumption of most items to make any demand, let alone enough to make it worth farming the things. Market becomes saturated quickly.

    Granite was only worth the price NPCs would pay for it before dungeon rooms.

    Tungsten (I think it is) was only worth NPC price until Constantine stats change.

    There are many other examples.

    NPC selling stuff just puts a ceiling on the price as there is an infinite supply at that price, but with no demand a ceiling does not matter, you will never get there. If this was a problem agriculture output would be price just below NPC price. It isn't because supply is much greater than player demand. So most just farm to sell to NPC.

    The problem is the floor prices (gold NPC will buy stuff for) is always more than a player wants to pay for most items because they have no reason to want to buy the stuff from you. All they can do with it is sell it to the NPC.


    Regards
    Spung
     
    Last edited: Feb 22, 2019
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