My Marketeering Blunder
By
AgentMountaineer,
Posted on: 2009-06-18 16:38 in The Market and Inventions
Looks like I should be buying them at 30 right now.... 
Be patient, there appears to be lots of supply now. The price will go back up,... at some time in the future. The kicker is when the recipe does go up every recipe priced under you will sell first. Unfortunately you did buy on the high side of the curve. Next time you decide to flip an expensive item I recommend you watch the item for at least a few weeks first to get an idea of the expected highs and lows.
Also in general do not buy on the weekend, demand and prices are higher with more people on. Sell when demand is high, do not buy when demand is high.
Issue 15 should be rolling out soon and more than likely everyone will get a freespec so be careful.
I was crafting Steadfast res/def and -kb IOs for cash, then the bronze rolls started happening. I had to pull about 20 of them out of the market and re-sell for half price.
The positive of this experience is at least I only bought 5 instead of 10, and one has already sold. So if I were to sell them for 50 Million, I'd only be eating about 12 Million plus fees which doesn't hurt me too badly. I'm thinking 50 would be an easier sell than the approx. 80 I was looking for. I'll see how things look tomorrow morning and make my decision then. I really don't like tying up my slots for more than a week at the most. That and weekends are a wonderful time to move the goods.
Generally, my schemes involve fast-moving inventory rather than slow-moving, which means less profit per sale but more of them to compensate. An interesting market study might be to see which strategy works better over the long term.
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Generally, my schemes involve fast-moving inventory rather than slow-moving, which means less profit per sale but more of them to compensate.
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I'm the same way. I prefer something where I can keep stock moving through. Then, if and when the niche dries up, I've already made back my initial investment, so I can just wait it out. The peaks and valleys just aren't as far apart. I was selling one type of IO for 15M, and probably selling one or two a day for a couple of weeks. I tried to keep three of them on the market at a time. Then the niche suddenly dried up and they started going for 5 or 6M apiece. I just left the three I had on the market up, and a week or so later they finally sold and I went back to business as usual.
Working 3 or four recipes that way, I pretty much always had *something* selling.
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So this past weekend I was looking around the various recipes trying to find a niche to hit up for a short stint and stumbled across Respec recipes selling in the range of 60-80 Mil. That's more than enough of a disparity to make me happy so I put in a bid for 5 recipes at 62 million a piece.
I've been following the price and it has tanked with only one of my recipes being sold. While the prices have come back up a little today, this has been the low point as of yesterday.
I haven't given up on them yet so put in your high bids for respecs, people! I'm still trying to get into the billionaire club and selling the other four will give me a nice boost!
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Over 100 respec recipes were dumped on the market within a single night!!!
(1) Someone was brilliant and was sitting on a bunch. Then dumped them when supply hovering around 15 and demand at 80 million.
-OR-
(2) Someone is purposefully saturated the market to keep respec recipes lower in price
Call me crazy, which some of you will, but I believe that Professional Farmers are behind the recipe price drop. Just the shear volume dumped and saturation of the market is amazing. I've played the market, earned my billions, broke the cap, bought every purple IO and more, have 1b bids on level 53 recipes . . . but never seen anything so crazy!
Or maybe i'm just bitter because I'm sitting on 35 respec recipes myself . . . guess maybe I should learn from this . . . wait until they are back to 80m bids and dump/sell at 1 influence to max return.
Seems like a good time to start buying up as many as possible for those with the inf on-hand.
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Seems like a good time to start buying up as many as possible for those with the inf on-hand.
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Yup, that is what I am going to do... buy and hold... the market will rebound and there is money to be made there.
to the OP, you can always buy up a few more at the lower price and dollar cost average your total down, I have done this in the past when just like a previous poster noted I got stuck with plenty of steadfast IO's when their market tanked
I need to find something else to work on now .. I'll just let those recipes .. sit for a while. I'm priced below 75 million, at least ;-)
My memory's not as sharp as it used to be.
Also, my memory's not as sharp as it used to be.
"The tip of a shoelace is called an aglet, its true purpose is sinister." The Question
Prices on these seem to be recovering already.
Some items are funny and shift wildly. I recently bought a bunch of LOTG's for 40-60 million and sold each and every one for minimum 100 million each redside. People do some stupid stuff when it comes to buy NAO! syndrome.
I just like being there to pick up the rather large pieces of the pie. 
The development team and this community deserved better than this from NC Soft. Best wishes on your search.
So this past weekend I was looking around the various recipes trying to find a niche to hit up for a short stint and stumbled across Respec recipes selling in the range of 60-80 Mil. That's more than enough of a disparity to make me happy so I put in a bid for 5 recipes at 62 million a piece.
I'm still trying to get into the billionaire club and selling the other four will give me a nice boost!
I've been following the price and it has tanked with only one of my recipes being sold. While the prices have come back up a little today, this has been the low point as of yesterday.
I haven't given up on them yet so put in your high bids for respecs, people!