Oil Price Increases 10% Due to Reseller

[The Salamander]

This all very simple to understand, someone made an order for oil at 150% in auc. SO THE ONES THAT SPOTTED THAT ORDER JUST BOGHT ALL THE OIL THEY COULD GET THEIR HANDS ON FOR LESS THAN 150% AND RELISTED IT WITH A BO AT 150%.

THUS MAKING A FEW BUCKS WITHOUT ANY WORK

Looking at the ppl in the chat window, I'd guess u were in CND when u took the screenies (maybe wrong). If so, sometimes its much better to buy at that sort of price than to pay the extortionate transport cost of ores and ens from down below if yr crafting up top. People do pay over the odds in places like CND auctions but its their choice to craft there and at times they also get very good (low) prices from the miners by buying in the Control Room so I guess it evens its self out.

I see no problems with what these guys have done.

If I understand what you guys are saying, you're missing a couple things here. For the first statement there, if that was what was going on, I'd agree - lower for sale price + higher order price = easy profit. However, that's NOT what's going on. These people, as was previously stated in this thread, are buying at higher prices (good for those of us selling, granted), and selling back (or trying to, that is), in larger quantities, at WAY higher prices. Without naming names, you can very easily see the first two avatars originally mentioned in the thread having bought oil for 130%-150% and selling it in stacks of 10K-20K for 185%-195% starting price. That's about as blatant as you can get.

As for the second statement, the ores these people were bidding on were being offered planetside (I can say this for sure looking at a few auctions myself), so they definitely weren't paying out the nose for crafting up in space - plus, the above info clearly shows they're not doing this for their own crafting purposes.

I realize that there are some instances where buying at slightly higher prices can be justified. The plain and simple fact, though, is that those first two people are trying to take the price of oil and send it into the stratosphere. I wouldn't mind seeing them spend the equivalent of hundreds of dollars to rake in all this oil, only to have it completely backfire and lose tons of cash on this after they've sat on this poor attempt at extortion for several frustrating days - because that's exactly what this is - extortion.

I can only hope that the pilots and other people who consistently use oil are not being hurt by these nincompoops too much. I don't want to suddenly see tickets to CND or CP start hitting 40 PED a pop just because a couple chodes thought they'd try to make a cheap buck and pilots have to start charging more to compensate.

 

[Dunn]

I'm sure the ones doing this has built up a stock of oil that they will release into the market in a few days while the oil prices are high.

 

[The Elf]

so they sink 90% of thier ped into overpriced oil, then burn the other 10% on unanswered auction fees... leaves us with two less 'artists', right?? pilots need a vacation after the CND party anyhow

 

[theburg]

again, guys chill out

they r pilots... oil at that amount difference in ped is like 10-20 ped... they make that on 1 round trip to CND... the longer they r out of business because of not having oil the longer they will go w/o profit so they get desperate.... especially when ND is running large contests... the pilots could make alot of ped but when they dont have the oil they cant go thus the prices

check back in a week or 2 and i promise that prices will go down

 

[GolGotha]

Okay, let me address the hypotheses at hand. I had to fly back to school today so that's why I haven't posted yet.

As for the "they're pilots" argument:

Pilots have suppliers - mass suppliers. Suppliers that can supply them hundreds of thousands of oil at a MAX of 120%. I know I can get that amount for around 117% already refined. They bought out ALL oil auctions under a certain % and I don't think you guys are seeing what actually happened. It was not just on these two bids. It was on AT LEAST 10 bids. The whole first page of closest ending oil auctions was raised to 130-160%.


For the reseller comment I made:

I don't know if they're resellers honestly. I do know that they're trying to change the market for oil to gain an unfair advantage. It's called creating a monopoly, setting prices at a certain, very unfair price, and then letting others decide what to buy it for. Other people will sell it for that % because it will appear that buyers are buying at that %, when it was really only those who inflated the price originally. Either way, this is a ridiculous thing to do. Do I go and buy all the major cruise lines in the world and then jack up the rates by 15%? Does anybody, even if they have the money? No - because the governments of the world would not allow it.

I'm sorry, but those of you who are defending it are obviously not seeing what I'm stating. Once again, let me make cliff notes:

1) Two guys raised oil prices 10-30%
2) They did not raise it in ped increments, as fighting for the oil (as they would if they needed the oil in all likelihood, especially if they were buying it to craft or to use for piloting), but they raised to specific % ranges.
3) They did this on multiple bids, also buying out an unknown number of oil auctions.
4) This effects the price of oil because on pe-trade.net, peauction.com, and mytwopecs.com it will appear that the price of oil has increased.

Now let's continue this thread knowing these facts.

And let me quickly also add these statistics from peauction.com:

January 02nd 2007 03:30 AM 1000 20.00 PED 28.00 PED 5 140.00%
January 02nd 2007 02:34 AM 733 14.66 PED 22.00 PED 5 150.07%
January 02nd 2007 02:29 AM 1343 26.86 PED 40.00 PED 8 148.92%
January 02nd 2007 01:59 AM 1309 26.18 PED 38.00 PED 6 145.15%
January 01st 2007 10:08 PM 1000 20.00 PED 29.00 PED 5 145.00%
January 01st 2007 10:03 PM 465 9.30 PED 15.00 PED 1 161.29%
January 01st 2007 08:58 PM 5000 100.00 PED 144.00 PED 13 144.00%
January 01st 2007 08:48 PM 3500 70.00 PED 99.00 PED 12 141.43%
January 01st 2007 08:23 PM 2995 59.90 PED 85.00 PED 6 141.90%
January 01st 2007 06:22 PM 1002 20.04 PED 31.00 PED 6 154.69%
January 01st 2007 05:57 PM 2022 40.44 PED 56.00 PED 4 138.48%
January 01st 2007 05:42 PM 5000 100.00 PED 140.00 PED 5 140.00%
January 01st 2007 04:17 PM 5234 104.68 PED 131.00 PED 6 125.14%

That will show you how many things they bid on. No smart pilot would pay that price, because a pilot does things for regular profit. A pilot can get these amounts very easily at a much lower price.

+Gol

By the way, this person is still bidding up the oil. All the new latest auctions are increased also. Same person.

 

[whodi]

Too bad I cant see the name in screenie

I woulda +reped em....

Again...

If you dont like the price of something..... DO NOT BUY IT!

+rep to whoever the seller is!

 

[Rumsponge]

Crap! Gotta get my mining stuff out of storage.

I know quite a few places where I can pull up boat loads of oil. Just never do it because it's a pain and hunting's more fun.

Thanks for the heads up.

 

[Leviathan]

So Pilots buy oil way over the market so they do not need to worry where to spend all their peds? makes sense

Hahahaha good joke, some pilots are some of the worst buyers I know mate... and with their cartel, it is just a great biz for them... no complaints but dont say pilots are great buyers cos many of them are just lowballers...

And given that they buy cheap, I believe is not in their interest to inflate prices... I believe miners and resellers would be the most likely source of price fluctuation.

 

[Naverith]

Not a problem for me. As the "Pilots Assoc" have gathered togather to rip off the public for WAAAY over appropiate profit to fly with them, they deserve to have to pay stupid inflated prices for oil. If flight to CP and CND prices were lowered to ethical profit levels, I'd be happy to keep selling them oil at 110%. As long as us players are ripped off for 20 ped to fly to CP, I've got no problem with them being ripped off for over 150% for oil.

There have been many threads showing exact cost for flights to CP and CND, so there's no reason for pilots to keep up the pretense of their ripping us off.

 

[theburg]

well if its not a reseller or pilot and its a common mineral than its the biggest screw up in PE or maybe there is a conspiracy going on here
... maybe its the fact that theres alot of new attachment bps that r taking 50+ refined for 1 try, and the recent cnd events and its only temporary

 

[nvcK]

Another order went in about half an hour ago, getting anything below 150%. Yay for miners, nay for crafters...

 

[Az Bloodz]

Too bad I cant see the name in screenie

I woulda +reped em....

Again...

If you dont like the price of something..... DO NOT BUY IT!

+rep to whoever the seller is!

And what if you need it? There is no "just don't buy it"

 

[GolGotha]

And what if you need it? There is no "just don't buy it"

This is the position I'm in. I've been working on getting a different blueprint that doesn't use oil for about a week now, before this ever happened, but it I haven't been able to get one yet. This is really taking a bite out of my skilling time. I don't have the time to deal with this. I have a sort of schedule that I'm on and this ordeal throws it all away.

 

[Witte]

This is the position I'm in. I've been working on getting a different blueprint that doesn't use oil for about a week now, before this ever happened, but it I haven't been able to get one yet. This is really taking a bite out of my skilling time. I don't have the time to deal with this. I have a sort of schedule that I'm on and this ordeal throws it all away.

Uhm are we both talking about a video game most of us play for fun? Sounds like its your job . (heck maybe it is)

 

[TSCRYPTO]

It seems a number of folk have gone a bit potty. There are a number of people with bids on oil who also have oil listed for sale at extravegantly high opening bids.

(6K oil at 185% - WTF?)

The good news is some shopkeepers are still willing to supply cratfters oil at 117%.

Shop around - this stupidity will correct itself in due course

(Crafters who are on Leeloo's FL can try her for oil at 117% )

 

[GolGotha]

Uhm are we both talking about a video game most of us play for fun? Sounds like its your job . (heck maybe it is)

It's an investment.

 

[Leeloo M]

This is just crazy. PLS dont pay that much.



The miners I work with are still selling on normal oil prices so........ crafters on my FL can get the oil for the normal 117%.

This will only be available by me personal if you pm me or when I'm in shop.

So resellers...... no need to rob my shop anymore but if you really need to, pls dont stop buying in my shop, the socminers love it because they get a % of the sales from shop )))))

LM

 

[Polynices]

This may be a classic pump and dump.

But what if the guy is acting on inside information that vehicles are on the way?

It's also possible that he is just very intuitive.

 

[Kombinator]

Read Marco's announcement today...may be the guy is quite astute or indeed insider info...

 

[Westy]

I got a plentiful lastnight and had some other oil. I put one lot on 130 and another at 128% as I thought the whole price thing had subsided. Then while still drilling they both sold buyout and I hear order went in for 150%. It was gone by the time i got to auction again. I put the next two batches in at just under 150%. They have been sitting there for 16 hours and I thought ok its all over. I'm at work so I logged to EU site to check inventory and they are now gone. So another order of 150% or more went in. I think the same guy is relisting the oil. If this continues tonite its time to get a 104 amp and hit the oil field i'd suggest.

 

[Tangine]

And what if you need it? There is no "just don't buy it"

This is an online game. You don't NEED anything. Now, tell me you need some food in your fridge or else you die, then i hear you. But this is virtual stuff. it's entertainment. How much you're ready to pay for that fun you want, that's what it's all about. I hate resellers, but damn, we are helping them doing their job everytime we buy something with price higher than it was a month ago... I've done it before, i knw i'l do it again. All we can hope is the auction tax makes their job harder, but until we stop buying, they'll be there. Do I need my uber armor ? No. Do I want it so i can hunt uber mobs for fun ? Yeah. Am I gonna buy it ? depends...
same goes for oil

 

[dolera]

I predict that MA will drop a few nice hofs on oil anytime soon.

edit: this would definitely strengthen the thesis that MA does active balancing

 

[Count0]

check this link:
https://www.planetcalypsoforum.com/forums/showthread.php?p=581774#post581774
and also the links inside this thread... I find strange that same ppl are geting involved in same kinda actions over and over again...
think for yourself... the ones that really want to know what`s happening..

 

[GolGotha]

This is an online game. You don't NEED anything. Now, tell me you need some food in your fridge or else you die, then i hear you. But this is virtual stuff. it's entertainment. How much you're ready to pay for that fun you want, that's what it's all about. I hate resellers, but damn, we are helping them doing their job everytime we buy something with price higher than it was a month ago... I've done it before, i knw i'l do it again. All we can hope is the auction tax makes their job harder, but until we stop buying, they'll be there. Do I need my uber armor ? No. Do I want it so i can hunt uber mobs for fun ? Yeah. Am I gonna buy it ? depends...
same goes for oil

I would actually say you are wrong. When you have put a certain amount of ped in and you are on your way to a goal, PE has a game / investment duality. It's not the game that makes you want to buy things at a low prices, it's the investment. You don't just stop an investment dead in its tracks, you nurture it to growth. You don't need it like you need life, but you need to make it grow so it doesn't stagnate. If you do that, you might lose a lot more than you ever wanted to.

 

[Count0]

after some digging I kinda have a feeling this is a test.. like some others... or maybe a bit more?...
who`s tested? maybe MA.. maybe the comunity...
who`s the tester?...

 

[GolGotha]

after some digging I kinda have a feeling this is a test.. like some others... or maybe a bit more?...
who`s tested? maybe MA.. maybe the comunity...
who`s the tester?...

I doubt someone would invest thousands of dollars into this game as a test. There is some speculation going on somewhere. Poly's argument seems to be the most valid and logical. Anybody have other ideas?

 

[Az Bloodz]

This is an online game. You don't NEED anything. Now, tell me you need some food in your fridge or else you die, then i hear you. But this is virtual stuff. it's entertainment. How much you're ready to pay for that fun you want, that's what it's all about. I hate resellers, but damn, we are helping them doing their job everytime we buy something with price higher than it was a month ago... I've done it before, i knw i'l do it again. All we can hope is the auction tax makes their job harder, but until we stop buying, they'll be there. Do I need my uber armor ? No. Do I want it so i can hunt uber mobs for fun ? Yeah. Am I gonna buy it ? depends...
same goes for oil

Oh ok so the asteroid, the LAs and the malls are just part of a game and no investment I see I see...well do you know many people who get money from a bank to buy a game or invest that money for fun?

 

[ajm1974]

Our friendly oil buyer just stuck 1 Million barrels of oil onto the auction at 165%. They're gone now. Read into that what you will.

 

[Westy]

I didn't get a chance to check it. But heard in soc last nite that melchi is rising too.

You couldn't discount the prospect a cashed up competitor putting some cash in EU and trying to disrupt it. Then competitor releases to the public his game and promises steady crafting. . ahh just a stupid thought.

 

[aridash]

Our friendly oil buyer just stuck 1 Million barrels of oil onto the auction at 165%. They're gone now. Read into that what you will.

without evidence, id say that is scare mongering. there's plenty of oil on the auction for buyout anywhere from 120% to 160%. why buy a load at 165?

(I also have no idea who the "friendly oil buyer" is. This new no names rule makes coherent and sensible discussion difficult, replacing it with innuendo and misdirection.)