fishy CLD dealings on auction

[wizz]

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I just wonder how the hell it is possible to be overbid with an order on certain items at any given time of the day within 3 minutes. Wether is be 6 am, 13 pm, 22 pm or 1am. There are some shady things going on thats for sure

nah according to axemurderer your just paranoid

Btw none of those auction traders can be found in the player register.
So they dont want to be found.


lol @Haruto Rat, dont you get tired by constantly having to un-ignore me to read the posts?

[wizz]

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...

A few deals which are about to end drew my special attention.

1 guy bids 4000 on 2 deeds (from an avatar which could very well be an alt). The person in question raised that offer to 4001. Then 30 minutes later raises his own bid to 4040 (2020 per deed).
Another example is even more extreme.
1 Deed he offered 223 ped but 20 minutes later raises his own offer also to 2020.

Why would he do that?....?

this was a bit noobish of me.

This is of course very easy to explain.

As he had orders placed at +2020 it automatically bids up to +2020.

Right?

(I dont do orders a lot, so I'm not 100% sure)

[jetsina]

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this was a bit noobish of me.

This is of course very easy to explain.

As he had orders placed at +2020 it automatically bids up to +2020.

Right?

(I dont do orders a lot, so I'm not 100% sure)

Not in this case I think, as the bid/order times were out by quite a bit, but maybe he bid specially at +2020 before placing a new order a couple of hours later so that the order wouldn't get 'gunged up' with the individual bid and would stay open for the full number ordered.

[rtos00]

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I dont think he cares about the CLD price. He just makes his profit out the spreads.

And as long as there is a spread between offer / order he makes ped.
regardless of the CLD price.

I don't think there's anything wrong with him doing this. It's called 'arbitrage', and a great way to make guaranteed profit. If I had the PED bankroll, I would do the same thing. The market is a free market, so nobody is forced to sell or buy unless they want to.

[wizz]

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I don't think there's anything wrong with him doing this. It's called 'arbitrage', and a great way to make guaranteed profit. If I had the PED bankroll, I would do the same thing. The market is a free market, so nobody is forced to sell or buy unless they want to.

yes, you're absolutely right here.

but, I think it's fishy and I don't like it.

Isnt there something in the UELA about ruining others fun to play?

[DakinGaros]

This is more than the odd conspiracy theory, auction manipulation is against the rules, and if reported, will be investigated. Its not fair if someone has the time and resources to screw up the auction. This person will get caught out. Anyone rememeber Wirlo?

[Few Scars]

I would say it’s artificial price fixing. CLDs are hugely overvalued for what they offer. If you own a lot of them a crash in value would be a disaster. I still don’t understand why ComPet deeds still have value, they have no purpose?

[Spacetator]

beside bragging, can you be the hero, just playing a game hehe

[Darth Revan]

It sounds fishy to me as well, however one of those i can understand A reason for doing it:

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1 Deed he offered 223 ped but 20 minutes later raises his own offer also to 2020.
Why would he do that?

Knowing that deeds go for a lot higher than 223ped, you would know that eventually you would get outbid on it...usually it will happen in the last 10 minutes too (those damn snipers). So if you look at when the auction end time is and know that you will not be around...like 3am in the morning when you have work the next day...or you will be away from your house at work or on vacation, or stuck in traffic from picking kids up at school, etc, etc.
Knowing this, even if its days away, is enough reason to bid the highest amount you will pay for the deed.
That way, if you win you will be happy with what you paid for it, and if someone bids higher then that's tough luck and you wont get it.

Now i would be concerned if he raised it above what a deed should cost, say if he bid 2200 ped on a deed when the average rate is 2050 ped ....that would signal he is trying to inflate the value. However 2020 ped for one deed is cheaper than normal, so you would assume it will be outbid....if not he gets a good deal and its the rest of us who lost out for not bidding.

The other thing to remember is just because he has orders in place, doesn't mean people are dumping to him at those prices...usually all the orders i have seen are lower than what you would be able to get by putting on auction with a buyout at average mu. If people are dumping to him, well that is their own fault for wanting ped straight away instead of giving the auction a good chance.

If you don't like what he is doing, then either report him to MA and let them investigate, or put higher orders than he does which eventually will lead to you owning all the CLD's as if you keep increasing then eventually it will lead to buyout on all current auctions.....provided you have the funds.

Otherwise, all you are doing is complaining and that doesn't help anyone.

[wizz]

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It sounds fishy to me as well, however one of those i can understand A reason for doing it:



Knowing that deeds go for a lot higher than 223ped, you would know that eventually you would get outbid on it...usually it will happen in the last 10 minutes too (those damn snipers). So if you look at when the auction end time is and know that you will not be around...like 3am in the morning when you have work the next day...or you will be away from your house at work or on vacation, or stuck in traffic from picking kids up at school, etc, etc.
Knowing this, even if its days away, is enough reason to bid the highest amount you will pay for the deed.
That way, if you win you will be happy with what you paid for it, and if someone bids higher then that's tough luck and you wont get it.

He seems to be online 24/7 or close it.
For normal people this explanation would be valid, but not for this greatest trade person.
Also, as I wrote before, it's not like he really wants the items, because he's got 2 pages full of offers and thus selling it. If you REALLY want something, why have two pages of offers?

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The other thing to remember is just because he has orders in place, doesn't mean people are dumping to him at those prices...usually all the orders i have seen are lower than what you would be able to get by putting on auction with a buyout at average mu. If people are dumping to him, well that is their own fault for wanting ped straight away instead of giving the auction a good chance.

Now this is were you go wrong again.
I've been monitoring the CLD trade very closely and people do dump at him! All the low price on the auction graph are his order prices. And all high sells are nearly all from his offers.

And that's because people dont have much choice. Since the greatest trade person ALWAYS has the highest order as he instantly increases any other bid by 0,01 ped, making his order go on top....ALWAYS.
So every CLD sold to an order will be to him.

If you dont want to sell to an order and place an offer, he will automatically place an offer under yours, constantly undercutting your price. Making it nearly impossible to sell through offers.


Now I would call this harassment for sure. His only reason/motive is to make money. And that by pissing on other players, constantly.


It's bit like being harassed while hunting. When a guy constantly steals your mob, making it impossible for you to hunt. But he does that on the auction.

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If you don't like what he is doing, then either report him to MA and let them investigate,

I might even do that.

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or put higher orders than he does which eventually will lead to you owning all the CLD's as if you keep increasing then eventually it will lead to buyout on all current auctions.....provided you have the funds.

Sadly I dont have the bankroll to fight him on his own terms.

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Otherwise, all you are doing is complaining and that doesn't help anyone.

Well, I finally wanted to bring this into the open.
If you see it as complaining, just stop reading.