How long is long enough?
By
AgentMountaineer,
Posted on: 2009-09-24 10:20 in The Market and Inventions
Well,given the 11M listing fee you paid, and the fact that it is a PvP IO
(arguably the least affected IO group from I-16), I'd leave it up indefinitely
myself.
Unless you need that transaction slot and whatever transactions you
place there will recover your 11M, it's a losing proposition otherwise.
As you yourself mentioned, peak prices were only 200M, so you definitely
overlisted it...
Even so, I suspect it will sell eventually.
Regards,
4
I've been rich, and I've been poor. Rich is definitely better.
Light is faster than sound - that's why some people look smart until they speak.
For every seller who leaves the market dirty stinkin' rich,
there's a buyer who leaves the market dirty stinkin' IOed. - Obitus.
always leave expensive stuff up unless you DESPERATELY need the slot.
Any big population spike can swamp supply on most stuff, and your currently ridiculous price may suddenly look reasonable.
assuming what you're selling is genuinely sought after and hard to come by, chances are someone, sometime will meet your asking price.
The Nethergoat Archive: all my memories, all my characters, all my thoughts on CoH...eventually.
My City Was Gone
Ditto. For a high end item like that, and assuming there are not a lot of others for sale... I'd just wait. If there are a significant number of others for sale, then I might pull and relist it, but only if i really needed the money from a quicker sale (or to free up slots).
I generally never list for the actual going or peak rate. A couple of things to always consider:
1. If there are virtually no others for sale, then you're much safer listing at the price you actually want to sell at.
2. If there are a lot of others for sale, then you want to list low enough that it will sell, but high enough that you won't be lowballed. This is admittedly trickier with a high-end item like you're selling. For normal (uncommon/rare) level 50 IOs I tend to calculate how much it cost me to create and determine my minimum sell point, and then make sure I'm listing at something that isn't a round number... so if I want to sell for over 2 million, I will list at 2.1 mill, or even 2,000,001. Just so people don't bid 2 mill exactly and grab it. If I'm content to sell at 2 mil then I'll actually list at maybe 1.9 mill or something. If the going price is about 5 mil, and there are quite a few for sale, I might list much lower... 3.6 mil, 3.1 mil. The odds are good that I'll sell in a day or two and probably for the going rate of 5 mil.
I've listed things too high on several occasions... often with semi-expensive rare IOs. At one point I listed a bunch of Aegis Resist IOs for something like 27 million a piece, when 29-30 mil was the high water price. I sold a few but I wound up with a lot that wouldn't sell, and the price fell to below 20 million. I think I was buying the recipes for less than 10 million, so listing them for so much was just me being greedy. I eventually had to pull them down and relist them at something more reasonable, like around 20 mil. I've done the same thing with LOTG Defense IOs, which sell for a lot but I've accidentally listed them close to the high water price, and there was always someone selling them or less than me.
But if I see that there's only 1-5 of something for sale, I'll list it at the best price I think I can get.
my lil RWZ Challenge vid
Quote:
Ditto again.|
Originally Posted by Organica
Ditto. For a high end item like that, and assuming there are not a lot of others for sale... I'd just wait. If there are a significant number of others for sale, then I might pull and relist it, but only if i really needed the money from a quicker sale (or to free up slots).
I generally never list for the actual going or peak rate. A couple of things to always consider: 1. If there are virtually no others for sale, then you're much safer listing at the price you actually want to sell at. 2. If there are a lot of others for sale, then you want to list low enough that it will sell, but high enough that you won't be lowballed. This is admittedly trickier with a high-end item like you're selling. For normal (uncommon/rare) level 50 IOs I tend to calculate how much it cost me to create and determine my minimum sell point, and then make sure I'm listing at something that isn't a round number... so if I want to sell for over 2 million, I will list at 2.1 mill, or even 2,000,001. Just so people don't bid 2 mill exactly and grab it. If I'm content to sell at 2 mil then I'll actually list at maybe 1.9 mill or something. If the going price is about 5 mil, and there are quite a few for sale, I might list much lower... 3.6 mil, 3.1 mil. The odds are good that I'll sell in a day or two and probably for the going rate of 5 mil. I've listed things too high on several occasions... often with semi-expensive rare IOs. At one point I listed a bunch of Aegis Resist IOs for something like 27 million a piece, when 29-30 mil was the high water price. I sold a few but I wound up with a lot that wouldn't sell, and the price fell to below 20 million. I think I was buying the recipes for less than 10 million, so listing them for so much was just me being greedy. I eventually had to pull them down and relist them at something more reasonable, like around 20 mil. I've done the same thing with LOTG Defense IOs, which sell for a lot but I've accidentally listed them close to the high water price, and there was always someone selling them or less than me. But if I see that there's only 1-5 of something for sale, I'll list it at the best price I think I can get. |
A lot of what determines the selling price are:
1) Number for sale - If this is high, sell at a discount of the going rate - often you'll get the going rate anyway except for the occasional creep-bid buyer. If this is low, sell close to the going rate or just below it. For exceptionally rare items, consider selling above going rate.
2) Number of bids - If this is high, sell closer to the going rate. If this is low, quote your sales prices somewhat below the going rate.
3) Turnover (frequency of sales of an item) - If this is high, sell closer to going rate. If this is low, you many want sell at a slight discount of the going rate to get the item out of the slot.
4) Margin (differential between buying price plus costs and the selling price) - If this is high, there could be future competition and/or market correction, so be prepared to sell at a discount of the going rate (sometimes I'll actually hold some as well as put up for sale some of the same items like these, waiting for the ones for sale to go and then see if competition or market correction narrows the margin before putting the remaining held items up for sale). If this is low, sell close to going rate.
5) Price volatility - If prices are volatile, i.e., there is a wide range between the lowest buy price and highest buy price (excluding outliers), then sell under the peak price, but above average/mean price. Volatility tends to go in daily and/or weekly cycles (as well as special events) and you'll want your selling price (and sales timing) to be in the crest of the cycle.
Obviously, none of these exist alone and all five (and likely other) factors apply, and sometimes are contradictory.
And I agree about pricing. Never use round numbers. If for example I want to get the going rate of 13m for an item but 12m will still give a decent margin, I will put it up for something like 12.350m. This avoids the 12.222's and 12.345 type bids. If there are a lot for sale (dozens or over 100), I may lower this to something like 11.88 to capture the sale and still clear 12m if hit with a lowball bid. I also never sell two of an item at the same exact price. Spreading selling prices, even within a narrow range, provides for some protection against flucuations in the market - I'd rather sell half a rack than none of it. So, in the example just given, if I were selling 10 of an item, I might put them up with selling prices ranging between 11.88m and 12.35m, avoiding round numbers and streaked numbers (i.e., 1111, or 1234).
After practicing with this for a long time, it tends to be almost instinctual what sales price will pick up the best bids and how quickly it will sell. I try not to overthink it.
Every once in a while ya screw up and eat a big chunk of inf. At least I do.
Hopefully you have enough other schemes going that one big ouch won't wipe you out.
Mini-guides: Force Field Defenders, Blasters, Market Self-Defense, Frankenslotting.
So you think you're a hero, huh.
@Boltcutter in game.
Quote:
Amen to that. I've had my own marketeering mishap or two, but thankfully I never put all my eggs in one basket. I always work in two or three areas at any given time, though lately I've found myself more interested in testing drop rates than playing with the market. I've just been crafting and selling whatever set IOs happen to come along and am still making a fair amount of influence. Ah the beauty of playing a tricked out toon with no immediate need for anything in particular. Any gems I happen to come across as drops I stash in my base and I still finding my wallet a little heavier.|
Originally Posted by Fulmens
Every once in a while ya screw up and eat a big chunk of inf. At least I do.
Hopefully you have enough other schemes going that one big ouch won't wipe you out. |
As to how long I leave things up...I don't move in the high end stuff and usually don't like to wait for more than a week for something to sell, but that's just me.
Quote:
I like to set the market on certain items and have had stuff up for months that eventually sells or I just bite the bullet, eat the listing fees and repost. Like others have said if you need the slot then you have to do what you have to do. If you dont just leave it up there. I know on one of my toons i have been looking at the same crafted IO in the very first slot going on about 3 months now. I look at it... and it looks right back at me.
|
Originally Posted by Fulmens
Every once in a while ya screw up and eat a big chunk of inf. At least I do.
Hopefully you have enough other schemes going that one big ouch won't wipe you out. |
Double Xp often causes market insanity. You might want to wait until the next double xp before giving up.
Camper: that's a damn good point. I think we're due for DXP in the near future (i remember a Comm Rep sayign something along the liens of a DXP weekened being shortly after i16), so we'll see what happens.
-STEELE =)
Allied to all sides so that no matter what, I'll come out on top!
Oh, and Crimson demands you play this arc-> Twisted Knives (MA Arc #397769)
Yes, another double XP weekend's coming up. They said after I16, and it would be an extra one due to stability problems on some servers the last double XP weekend. The actual date is yet to be announced.
So, okay, I tried to get into high-level crafting and profiteering, which so far has shown... mixed results.
I bought a certain PvP recipe for 100M. That was the going rate; i had watched the recipe for a week and that was roughly the middle point. I put in my bid and waited.
Finally bought, i crafted it and put it up for 225M. Peak prices were close to 200M so i figured someone would get greedy and pay a little extra.
That was a month ago. Now, after a steady decline, that same crafted enhancement nosedived and is now going for 17-30 mil (all last 5 sales, someone must have had a stack of them and sold them all at once), with plenty of unfilled bids and for-sales (about 7/9 last i checked).
SO! I ask ye marketers of the ebil this: Do I keep it up and hope further patience perseveres, should I take it down and relist to at least try and break even, or should I accept my losses and maybe see if the rest of the set is going for as cheap and slot it up myself?
-STEELE =)
Allied to all sides so that no matter what, I'll come out on top!
Oh, and Crimson demands you play this arc-> Twisted Knives (MA Arc #397769)