Why are things so overpriced?

William the Only

Ascalonian Squire

Join Date: Aug 2009

W/

Why are things in the Auction section so overpriced???

80k for a r9 insc. chaos axe???
30k for a str exalted aegis???

These are like 5x overpriced!
Do people actually expect people to bid on that garbage!?!?!

Konker2020

Konker2020

Krytan Explorer

Join Date: Jan 2009

Exiled Forcez [Ex]

30k for a gold strength ex aegis is actually pretty average, as for the chaos axe it isnt overpriced either its just the high end of the average pricing, why qq? Just dont buy it.

Kattar

Kattar

EXCESSIVE FLUTTERCUSSING

Join Date: Mar 2007

SMS (lolgw2placeholder)

Me/

Who says they're overpriced? Prices are player driven. If you don't want to buy them at that price, don't buy them.

Hang around a little longer and you'll see the price fluctuations with items. You'll learn the average price of things as well with enough looking.

majikmajikmajik

Wilds Pathfinder

Join Date: Aug 2007

SATown~Tx

Guild Hopper!

R/

Can YOU find a q9 max INSCRIBABLE Chaos Axe?
Acquisition

Obsidian Chest
Zaishen Chest

also the exalted aegis is probably the skin, not the green.
Acquisition

The Deep - Random drop
Deep Jade Chest
Kanaxai's Chest
Urgoz's Warren - Random drop
Stoneroot Chests
Urgoz's Chest

Not easy items or areas to farm/get so yeah those are decent prices.

subarucar

subarucar

Desert Nomad

Join Date: Jul 2006

New Zealand

None

Nobody is forcing you to bid on that item, I see many items I think are overpriced, I hit the back button and go into the next WTS thread/Auction.

majikmajikmajik

Wilds Pathfinder

Join Date: Aug 2007

SATown~Tx

Guild Hopper!

R/

not only all this, but everything has a price, and everything is worth something to someone. ive had a friend buy a cigarette for $0.50 knowing it should cost .25, but he REALLY wanted it so he paid more(I know that was a bad example, but an example it was!). its kinda like that in GW when you want something bad enough.

BadgerzFTW

Academy Page

Join Date: Mar 2008

QQ? Money is so easy to get in this game. It's funny that you think stuff is overpriced now when some runes were 80k+ and Greens were 100k a while ago.

HawkofStorms

HawkofStorms

Hall Hero

Join Date: Aug 2005

E/

Most things are overpriced. 90% of people trying to sell stuff in towns with all their "perfect" crap items never actually make a sale. Just because people are selling doesn't mean people are buying at those prices.

Truegen

Truegen

Frost Gate Guardian

Join Date: Sep 2007

Michigan

Clan Dethryche [dth]

Also take into consideration that 2 things are true about a seller:
  1. Sellers will automatically price something high because if they find the one person who REALLY wants it, they will buy it at that price without argument
  2. Sellers price high because they expect people to offer something much lower to begin the bargaining process. If the seller wants to realistically part with an item for 50k, they will probably price it somewhere between 50-60k

If you think a price is just too outrageous, the best display of your anger is to ignore the thread completely

Cloud_Deven

Cloud_Deven

Frost Gate Guardian

Join Date: Sep 2006

In A Theater Near You

Mistriven Guardians

N/Mo

If you look back to a year or two ago the prices for those same items were so much higher. IMO prices for most rare stuff is under priced by comparison.

Island Guardian

Island Guardian

Krytan Explorer

Join Date: Feb 2009

Kam AD1 farming ^^

Do it for [FAME]

W/E

Less of an availability of item X = more people want item X = Item X is more expensive

yCoRrUpT

Ascalonian Squire

Join Date: Jul 2009

Rt/N

no clue why items are so over priced i just buy like 3K worth of upgrades and a plain item and get the same item out of something thats 50K

The Air Revenger

Lion's Arch Merchant

Join Date: Feb 2008

Looking For TA Guild!

W/

not over priced, and even if it is no one is forcing you to buy it.

Need More Donuts

Banned

Join Date: Aug 2008

D/W

Supply and Demand it's as simple as that....
You better get used to it too because that is how the real world works...

Island Guardian

Island Guardian

Krytan Explorer

Join Date: Feb 2009

Kam AD1 farming ^^

Do it for [FAME]

W/E

Kanaxi=1000 arms= 45,000e isnt over priced

dilan155

dilan155

Desert Nomad

Join Date: May 2007

living room

N/

somethings are rare, they are worth more, makes sense. also those prices are expensive at all, and i mean at all. a lot of things in GW are very cheap too, any green, just as good as any other perfect weapons, are worth like 5k when the same item but not green is worth like 30-40k. belive it or not a lot of people have enough money to buy those things every so often. take a look at rare mini pets in high end, if you think 80k is high then your heart will stop at those prices. Everything has a price, and that price is however much the buyer is willing to pay for it and the seller sell it for.

Lux Aeterna

Jungle Guide

Join Date: Feb 2009

RAH

Close Enough [XVII]

W/A

Whenever you see an item for 80k, you should know that if you look around a bit you'll be able to find something just as good for 12k -- for example if you find a q11 chaos axe insc or oldschool with the inscription you want, it'll probably be 10k.

Either that, or wait till the price drops and people get pessemistic, then you can find one for like 5k.

q9 expensive skins = for rich people
q10-13 expensive skins = dirt cheap and just as good

WTB q9-10 heal BDS 70k OBO

AngelWJedi

AngelWJedi

Furnace Stoker

Join Date: Sep 2008

orlando,florida

Society of Souls [Argh]

Rt/E

Quote:
Originally Posted by Truegen View Post
Also take into consideration that 2 things are true about a seller:
  1. Sellers will automatically price something high because if they find the one person who REALLY wants it, they will buy it at that price without argument
  2. Sellers price high because they expect people to offer something much lower to begin the bargaining process. If the seller wants to realistically part with an item for 50k, they will probably price it somewhere between 50-60k

If you think a price is just too outrageous, the best display of your anger is to ignore the thread completely
or 3) the seller isnt sure of the price and puts down a random number. i do that sometimes.

notskorn

notskorn

Lion's Arch Merchant

Join Date: Oct 2006

Clan Roxor

W/E

80k for a scribable chaos axe is a pretty good deal.

Xsiriss

Xsiriss

Jungle Guide

Join Date: May 2008

Yeh things like inscribable chaos axes are hard to come by,the only one I've got was z-chest luck (q9 too ftw).Thing like that and say jitte's are expensive because you don't see inscribable ones often.

FengShuiDove

FengShuiDove

Forge Runner

Join Date: Sep 2007

Trinity of the Ascended [ToA]

A/

Quote:
Originally Posted by Z'HA'DUM View Post
i wike bunny wabbits
...kay.

OT: Rarity, mostly, drives the price to where it's generally acceptable to the target buyer playerbase. Precedent next (what the last 5,000 people paid for said item) and necessity (I really want this item and can't seem to find it anywhere else) are probably the following factors.

If you think it's overpriced, then for you, it is. That 80k would seem like nothing if you really wanted that item. Seriously. On the other hand, for you, 80k would seem ridiculous if you had no desire for it. If this is a question about making sufficient amounts of money, check out the farming sections of either this forum or PvX.

Bob Slydell

Forge Runner

Join Date: Jan 2007

Quote:
Originally Posted by yCoRrUpT View Post
no clue why items are so over priced i just buy like 3K worth of upgrades and a plain item and get the same item out of something thats 50K
The basic stuff and the elite stuff is all the same. But people pay extra to look good. (<< Avatar)

Back when I was new I thought it was stupid to purchase a 15k set, what a waste of money!

Here I am now with 4 prestige sets in my possession and looking to make another.

Voodoo Rage

Voodoo Rage

Desert Nomad

Join Date: Mar 2008

Sacramento, CA

Geezers

R/

I don't think those prices that THAT unreasonable. But, yes, there are a few "power sellers" who just spam ridiculously overpriced items hoping they get a seller who doesn't know anything.

Where's my buddy, Bubba X Snake? He likes to hang out in Rata Sum trying to sell things like a Q11 Elemental Sword for 12k. He sells them too (after like a week). Personally, my time is always precious, so if I want to get rid of something, it's priced to move fast. Period.

Igniito

Ascalonian Squire

Join Date: Aug 2009

W/Mo

Sorry to sort of... butt in here.

I just wondered, what does it mean when people say like "r9, q10, q9" etc when referring to weapons and shields etc? I'm pretty new and can't work out what it means

Voodoo Rage

Voodoo Rage

Desert Nomad

Join Date: Mar 2008

Sacramento, CA

Geezers

R/

Quote:
Originally Posted by Igniito View Post
Sorry to sort of... butt in here.

I just wondered, what does it mean when people say like "r9, q10, q9" etc when referring to weapons and shields etc? I'm pretty new and can't work out what it means
It says what attribute requirement needs to be met to get the maximum damage from the weapon. Usually for maximum strength weapons, R9 is normally the best and R13 is the worst (there are some R7 and R8's but they are very rare for max damage).

Just remember, as already pointed out, if you are already spec'd to 13 in, say swordmanship, your R13 sword is going to do the same damage as an R9 sword. So a lower requirement weapon is really either a prestige thing, using it on a lower level character, or using a build that doesn't spec that many points into that requirement (like a Tactics shield).

Kendil

Krytan Explorer

Join Date: Apr 2009

Sweden

Take it easy guys, the thread maker is apparantly so new to the game so he sees every max weapon as the best one, and then why buy one for 80k when you can buy another one (whith the same stats, but different skin) for 70k less?

The answer is: Buy the one you think is best, If you want a certain skin (like the look of the weapon) or just like to shine with an expensive weapon, then buy it for 80k. If you're only intrested in having a max weapon and want the spend your money on something else, then do so.

Yang Whirlwind

Yang Whirlwind

~ Retired ~

Join Date: Nov 2005

Copenhagen, Denmark (GMT +1)

E/

Quote:
Originally Posted by Igniito View Post
Sorry to sort of... butt in here.

I just wondered, what does it mean when people say like "r9, q10, q9" etc when referring to weapons and shields etc? I'm pretty new and can't work out what it means
Short for: Requirement. Q9, R9, Req9 means that the items requires you to have at least 9 in the linked attibute to wield it effectively.

As for OP's question:
GW mimics the fundamental principles of the marked economics. Prices are based exclusively on people's perception of stock and demand.
If an item is perceived to be rare or desirable it's price will go up, if an item is perceived to be common and undesirable, it's price will go down.

As in real life, it is more people's perception of the facts than the actual facts themselves that dictate people's actions and beliefs.

If you do not believe these items are worth their price, I assume you are uninterested in looks and image.
You can use this to your advantage by buying undesirable items, which (due to the above effect), can be bought for less than their actual value.