Understanding how the market works.

OK, I thought I understood how the market worked, but now I'm not so sure. I thought that the highest bid went to the lowest seller.

However having seen this exchange:

Quote:

Originally Posted by Panzerwaffen Earlier today I had dropped a Glad Strike recipe into a market slot, then dropped 3 different Adjusted Targeting recipes into the market also. I entered prices & hit Post for each of the 3 Adj. Targ recipes in order. The first two recipes sold correctly. The third appeared to sell correctly. All three recipes disappeared from the Stored tab and appeared to have moved to the Sold tab. The Glad Strike still showed on the Stored tab. When I clicked over to the Sold tab, I saw that the first two Adj. Targ recipes had sold along with the Glad Strike recipe. Needless to say, I was a bit annoyed at posting a recipe worth close to 500 mil for a selling price of 125K.

Quote:

Originally Posted by Roderick Ick. I assume it instantly sold? Did you at least get a reasonable amount for it, and not a lowball bid?

Quote:

Originally Posted by Panzerwaffen It wasn't exactly a total loss. It sold for 375 million, which was the lowest of the last 5 by far, but it could have been much worse. Still, it was a good 100 million less than what it should have went for.

I got a little confused. Surely, assuming no one else has listed this item that low, the highest bid would go to Panzerwaffen?

Could someone confirm I'm right, or correct me if I'm wrong please?

how did we know 375 million wasn't the highest bid at the time.

sounds like Panzer dodged a bullet either way.

What Rod meant was "Sometimes there are 300 bids for an item and NONE of them is a decent price." There are people that shotgun out dozens of low bids (Luck of the Gambler for 11 million, or whatever) in the hope that two things will happen:
1) The owner of the item lists really low, through misjudgement, mistyping, or [in this case] market bug.
AND 2) Nobody else has a decent bid sitting on the item.

There's a famous screenshot of the Luck of the Gambler 7.5% where the last five go something like this (I don't remembe the exact numbers):
40,000,000
35,000,000
40,000,000
11,111
32,000,000

That, there, was a lowball bid that paid off.

OK cool thanks, thats kinda what I figured, just wanted to check.

I dont have the patience for low balling things, if i'm going all the way to the market i'm coming home with when I went for :P

Same if im sellin, not leaving without the dosh....



Might cost me more in the long run but i'll just make more.

GIMMIENAO!