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Auction morons

Oleg

Oleg

Mutated
Joined
Aug 15, 2006
Posts
19,406
Location
Leeds, UK
Avatar Name
Oleg Oleg McMullery
Is it just me, or is it becoming increasingly difficult to sell anything on auction due to idiots constantly undercutting at as much as 5% below the weekly/daily?

I'm not talking about low-volume items here, I'm talking about oils, ores, L guns, L armour etc.
 
supply/demand...

fewer players = less demand. Less demand = lower prices.
 
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Rant Warning!

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It's the way of the world, a person isnt a moron because they dont do things the way you would like them to :)

When your buying im sure your more than happy someone undercuts others? i know i am.
 
Butch C said:
It's the way of the world, a person isnt a moron because they dont do things the way you would like them to :). When your buying im sure your more than happy someone undercuts others? i know i am.
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Well tbh with you you are right, however I don't mind paying markup for things I know are scarce/uncommon to find. Fair enough people should be rewarded for that, like a piece of armor, gun or item/tool etc.
 
Individual needs are different, and it varies with time....and it's playing out in an RCE...free/open market....
You can't call someone moron, if it doesn't fit your style....
 
look at it this way... since markup is low on stackables now, NOW IS THE TIME TO CRAFT. ;)

The economy goes in circles. When there's not enough supply, create it.
 
mastermesh said:
look at it this way... since markup is low on stackables now, NOW IS THE TIME TO CRAFT. ;)

The economy goes in circles. When there's not enough supply, create it.
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:laugh: ok good one, this one doesn't appear scripted as much ;).
 
Butch C said:
It's the way of the world, a person isnt a moron because they dont do things the way you would like them to :)

When your buying im sure your more than happy someone undercuts others? i know i am.
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I don't buy much from auction these days so I can't say it really affects me much from that side of the equation. But even so...

Infinity01 said:
Individual needs are different, and it varies with time....and it's playing out in an RCE...free/open market....
You can't call someone moron, if it doesn't fit your style....
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...it's not really to do with my style, I'm talking about resources and items that turn over several k PEDs every day on the auction, and normally have a relatively stable markup, but I keep seeing people dumping them at 3-5% below the current lowest offer, and not only in large stacks.

Similarly, Mark, I don't think you're really getting what I'm talking about. Items like Tbird (L) don't sell very much at all, the supply way outstrips the demand and has done for some time. I almost always TT those and I think most people do. I'm talking about regularly consumed resources and items, things like muscle oil, gazzurdite, Korss H400 (L), etc.
 
Yep, to many people who don't understand our economy... Parts MA fault...
 
Nothing is static in EU. Prices are always up and down and these days there is less expendable income all around. EU is definitely more competitve these days and that reflects not only in gameplay but in the market as well. I also think MA has burned out a lot of people who don't see EU as a good value and a place to continue injecting cash into the system. I know I fall into that group. My money is better spent elsewhere these days. It might eventually turn around but trends look to be declining.
 
golddude said:
Yep, to many people who don't understand our economy... Parts MA fault...
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I disagree, with the latter part.

If EU's economy fails like this, it's wholly Mindark's fault. Period.

They are the government of this world. They set the taxes (that they never tell you about). They are the monopoly when it comes to extracting fee's from anything and everything here. If they fail to create a sustainable economy, it's not the fault of random Joe. It's all, 100%, Mindark's fault.

Does their system hurt us? Most certainly. But as many apologetics have previously stated (views I can not agree with), it's "adapt or die". I'm with Oleg, though, how the hell are we supposed to adapt to something that either kills us faster, or simply make us kill ourselves?

I think what we all should keep our eyes on is rather - does Mindark even care?
 
And predictably this already turned into a whining thread.

Would anyone like to answer my question without bitching about how MA suck, EU is dying, etc etc?
 
Theren Strange said:
This.

The auction has gone to shit for about a week now. Like the balancing manager's attention is elsewhere.
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Why do you think its about balancing? It looks like user error to me, rather than any kind of over-supply. Do you have a specific example?
 
Oleg said:
Why do you think its about balancing? It looks like user error to me, rather than any kind of over-supply. Do you have a specific example?
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I don't think it's "user error"....some people just don't give a shit. ;)
Obviously people are filling low orders and selling under markup to get quick peds to hunt/mine/craft...and are not overly concerned about the effect on the economy.
You're making the mistake of thinking because you and others care, that everyone cares.

It's happened before. It will happen again. It will rebound at some point. You have to decide whether you want to sell at the current low prices or wait.

Not sure what else you want to hear?
 
Oleg said:
I want to hear people answer my question.
Click to expand...

Is it just me, or is it becoming increasingly difficult to sell anything on auction due to idiots constantly undercutting at as much as 5% below the weekly/daily?
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got to be careful with that... calling folks idiots that do things you don't like leads to flame wars, and support tickets. ;)

Remember,
You may not interfere in any way with the virtual economy of Entropia Universe and/or with other Participants’ ability to use or enjoy the auction system or any other trading system in Entropia Universe. The foregoing includes, without limitations, the prohibition of manipulation or cause to manipulate statistical data, directly or indirectly. This prohibitions includes, without limitation, prohibition of price manipulation and/or price fixing regarding virtual items on the auction system.
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I guess in theory you could use the above to say that those with low priced auctions are interfering with your ability to use or enjoy the system... but doubt it'd go anywhere since past support tickets about folks that do start bids at tt price or below tt price always got responses that the system is like that on purpose.
 
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The price of a lot of minerals etc has dropped. Nothing unusual, though, used to sell eye at 102% and thyroid to TT, nowadays get some mu for these
 
Most of the calypso mineral prices have taken a slide down at the moment, and its not because of a "few morons" in auction. Just a downward trend, and some prices are returning to their old positions (copper used to be 103% for example, remember?)
 
Some oversupply, some impatience, some lack of bankroll, some frustrated by others undercutting so put it too low to undercut (doesn't always work), some people sell at really low prices to resellers and they in turn sell under market to turn a quick profit (selling to resellers is just dumb)..
 
Oleg said:
And predictably this already turned into a whining thread.

Would anyone like to answer my question without bitching about how MA suck, EU is dying, etc etc?
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Hi Oleg,

I think a good example would be that infamous crafter with multiple ATH's in our soc. He tt's everything because he can't be arsed (now that is what I call a high roller) ... Take a step down from that level of playing and you get the guys that have an extremely high turnover but only a limited ped card. In order for them to continue doing their thing, they use the auction to exchange loot for ped (plus a little markup).

Listing a level 2 amp for 108% will sell 99,5% of the time (my experience). But it might take 5 or 6 days to do so (should there be many offers for lower)

Listing a level 2 amp for 107% will sell 100% of the time. But it might take a day or two
Listing a level 2 amp for 106% usually sells withing 24 hours
Listing a level 2 amp for 105% will sell in an hour or two.

So if in need of ped, they list at 105% or even at 104% in order to ensure a continues ped flow.

Also, there are quite a few ppl out there not giving a sh*t about the last couple of peds, they are just here to enjoy and their enjoyment is not squeezing everything out.

Those to me are the reasons why you will find auctions that are considerably lower vs. the rest. I am not sure why you complain though as you have 3x options

1.) buy the stuff and relist
2.) Ignore any offer that is so low that you know that it will sell in a few hours and list at a % you feel happy about
3.) Wait (I haven't sold any muscle lately due to the low markup). Granted, the third option requires a healthy ped card.

Angel
 
Possible answer to why so many more are willing to undercut is that the people who would normally just sell to tt are tired of losing ped so fast but not patient enough to not undercut. They still want their peds back fast but with constant poor loot they are doing an attempt at getting some peds back through auction.:yup:
 
Like R.l stock market :

Buy when its cheap , sell when mu is up again ,
If mu continues down , sell everything . ( in panic ) lol

Dont be worried , the dollar is soon to go down again so the depos will be even cheaper ,
but at the same time your withdrawals will be less worth .


Dont hate resellers , if they didnt play , who would buy all your stuff , they keep the mu up
Imagine a r.l without resellers , where would u get your supplys , from the nearest farmer ? or your brand new car ?
u would have to go to china to buy your stuff, seems pretty tedious to me

TAC
 
Oleg said:
I want to hear people answer my question.
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I think one thing that is happening to auction is that it is quite a bit more cyclical, with more things and with more markup sold in weekends. In my experience its not so much that stuff doesn't sell at reasonable markups (or markups would all be dropping fast), but that timing and sitting out lower bids is much more important.

In real world, this is called business confidence. In Entropia, it seems to be going down at the moment. So everybody wants to move their goods fast.
 
the ones i like most are those who fill my orders under 100% tt, you may not bellieve how often that happens
 
Well, think of the people who don;t have that much peds to go hunting/mining, like me for example

For about 2 weeks I don;t have the money to depo anymore, so I make mining runs of 200 peds at most

When I do hit s particular resources that have at least 40-50 TT value I prefer to seel it at the lowest MU or even at order MU because I don't have the money to go out mining again, and I don;t want to wait another day for 1-2-3 peds at most

on the other hand I am surprized at the Mu of the T10, it used to be 106% or something, then a month ago it jumped at 115%/120% now I have to take that out of my hunting gear

But seriously, people that cicle 200 peds at most on a run don't have the time to wait for auction, they sell the cheapest
 
I always put my stuff up at 98% and with a buyout slightly above auction price, going for 7 days. Same for unl stuff startbid tt-1 and buyout slightly above market value. I always sell everything I put up.
 
It is a problem.

And I can only evaluate from my position as a miner:

I mainly notice it when selling big stacks of ores / enmatters. There seem to be a continous downward trend in MU %. (ores that sold for 130% since 2006 - 2010, now sell for 108%).

Possible problems:

A > Players have a cashflow problem, in order to keep on playing they sell fast = at a lower rate. Peds are needed fast to keep on burning.

B > Some ores are suddenly flooding the market due to massive mob hunting correlated to missions (Iron.. gazz...) = lower MU, combine that with A and it gets even worse.

C > Lower MU on ores & enmatters (and other resources for that matter) = lower costs to craft = gives a crafter the possibility to sell cheaper... (lower MU on crafted gear)

D > ....

All these dots are connected and make a downward spiral. Sadly there is no simple solution. They only solution that comes to mind = a sudden massive influx of buyers (read new players) so the market saturation get's broken up.

Alternatively, MA could always ... play with the % to manipulate the economy.. but that is a dangerous game.
 
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