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bromber

Prices for bulk buying

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Since my return back to EL I have noticed that prices have some how been turned upside down.

 

1. If you buy some thing in a min amount you get it at noraml price, IE: lets say for example Energy Ess these noramly go for around 8 gcs each.

 

2. You buy in bulk suddenly the prices are 10gcs each because your buying in bulk. (This has nothing to do with a tade I did recently as I have noticed this well b4 + I payed because i needed )

 

What I would like to know is why are players selling bulk for more.. in the Real world you would pay less for bulk. If i went to a werehouse I would expect to pay less for the item as you noramly buy it in bluk.

 

so my questions are.

 

1. Was I dearming that there was a time in EL that we payed less for more.

 

2. If number 1 is no then why has it changed? Plz any mixers could you put some light on to this.

 

I do understand that the price i payed was maybe over the top as I said I was in need so payed but still even if its just an extra 1gcs more for buying in bulk this seems to be the wrong way round.

 

This is not a rant just a question as to why prices has gone this way. As im just curoius as to the reasons behind this.

 

Flame away I have broad shoulders :)

Edited by bromber

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Time preference. I just pay more to have 100k silver @3 now in my sto, than buying in 10k batches @2.5, since the resource is scarce and I need a lot.

 

And it differs from real life, because everyone can harvest silver at the same rate, we don't have specialized harvesters with noticeable faster harvest time. That's what a warehouse does, cutting the cost of production.

 

 

^^

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And it differs from real life, because everyone can harvest silver at the same rate, we don't have specialized harvesters with noticeable faster harvest time. That's what a warehouse does, cutting the cost of production.

 

Yr correct I did not take this in to account

 

I guess that more the need the more prices will raise this also is Rl. may be since a lot of mixers have left the game it will take a long time for prices to settle down again.

 

Time preference. I just pay more to have 100k silver @3 now in my sto, than buying in 10k batches @2.5, since the resource is scarce and I need a lot.

 

yes can understand, since i came back i have noticed that buying resorces is harder to get

 

Thanks for the reply a great help :)

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Time preference. I just pay more to have 100k silver @3 now in my sto, than buying in 10k batches @2.5, since the resource is scarce and I need a lot.

 

And it differs from real life, because everyone can harvest silver at the same rate, we don't have specialized harvesters with noticeable faster harvest time. That's what a warehouse does, cutting the cost of production.

 

 

^^

 

Why don't you buy in 10k batches from the same person then? you'd get the same amount for less gcs ^^

 

But seriously, when someone told me that you pay more for bulk I thought they were stupid. IMO if you want to get more than normal price for your hoards of silver, then auction it.

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Why don't you buy in 10k batches from the same person then? you'd get the same amount for less gcs ^^

 

Because the same person knows (or feels) about time preferences. And making 10 different trades at 10 different points in time is more costly, due to the overhead of paying more attention to the game, moving to the meeting point etc...Buying 10 times from the market is even worse, because you have to compete with the other buyers and to be efficient you need to pay attention to @@3. Try to sell 10k @2 and see how many PMs you get, usually you have no more than 2 seconds before your PM is too late.

 

This obviously does not exclude that the same thing can happen for the seller. You can find offers of 50k or even 100k silver @2.5, because they need money faster (their time preference) or because they are too lazy to post an auction.

 

But seriously, when someone told me that you pay more for bulk I thought they were stupid. IMO if you want to get more than normal price for your hoards of silver, then auction it.

 

Yes, that's a good way (if your time preference for gc vs silver is not high) because what you do with an auction is avoiding the "attention cost" of the buyers and allowing them to compete more fiercely for their time preferences.

 

Another interesting strategy that avoids attention costs and allows for similar time preferences to meet, is the contract. I pay you 2.5 for x amount of silver harvested over t hours. If t and x suit both you and me, we have a contract which effectively satisfy my and your time preference without paying the overheads. I don't pay the 0.5 and don't look at @@3, whereas you don't have to post auctions and can be sure that after t hours you get your 2.5x money.

 

As a side note is interesting to see that, whatever you put it and whatever whiners have to whine, a trade is always satisfactory for both parties at the very moment of trading (ex ante), so they both gain. You can only whine after (ex post).

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That's something you get with rare resources in real markets too.

 

buying larger quantities can be more expensive because the seller might have to put more effort into gathering the resource or has to buy parts of the order from other suppliers for a higher price.

 

On the other hand 10k vs 100k has nothing to do with bulk buying. If you'd compare 10 silver vs 10k silver then you should notice quite a difference in price if the players would actually sell and deliver such small numbers.

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Time preference is one of the possible causes... but i can see other economical phenom.

 

I bring up the concept of keeping the value of the currency during an inflationary context.

In most modern economies we can separate 2 kind of goods: monetary assets and nonmonetary assets. The first group is like money and similiar (deposits in banks), the second group is harder to turn into money (gcs).

For adquire a nonmonetary good a person have to give an amount of monetary goods, that generate a relationship between their values.

In an inflationary context you need to give more monetary goods to get the same nonmoneraty one; or with the same amount of monetary goods you will get less nonmonetary goods than before.

 

This causes that people with nonmonetary assets in their storages (mixers and harvesters) preffer to keep their products (in bulk quantities) in a nonmonetary form, because if they wait some days, maybe they will get more gcs in exchange.

 

 

Well, it is just another point of view. I tried to show that the cause is a "bulk" of factors and reactions, and shouldn't be explained by only one of them.

 

Dipi.

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Another reason :

Let's say :

I need 10k coal, turn #6 on.

Some newbie ask for pc on coal, want to sell 500/2gc ea.

(took a long time to harvest with low emu)

Now:

IF I should leave what I'm doing and buy 20x500 coal would it take me 40x tele ess/rings and a lot of time, so I dont buy, but wait untill someone sell 10k, even if the price maybe is higher.

And the newbie who need the gc, lower the price as he don't see why people don't buy.

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Another reason :

Let's say :

I need 10k coal, turn #6 on.

Some newbie ask for pc on coal, want to sell 500/2gc ea.

(took a long time to harvest with low emu)

Now:

IF I should leave what I'm doing and buy 20x500 coal would it take me 40x tele ess/rings and a lot of time, so I dont buy, but wait untill someone sell 10k, even if the price maybe is higher.

And the newbie who need the gc, lower the price as he don't see why people don't buy.

 

I can see this being more of a factor then Time preferences

 

Reason for this is if yr harvest lv r of a high lv and a high emu then it surely would b easer for you to get the bulk amounts (im useing harvesting as an example as this is where it is more prominent). So yr time is no more a preferance as you will gather more quickly then if you was a noob with low harvest and low emu who would take longer to gather the items.

 

I could be wrong and not seeing the whole picture.

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what i see is it is what players will pay.

 

for example

 

If i had 200 coal i would probaly sell to a bot fo lower price but if i had 10k of coal

i would sell at the price i think i can get for it .

 

Its up to you wether you pay for the luxary of not having to travel to 20 difrent players selling small amounts

 

not that im selling coal at the moment

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In my experiance, it is the buyers that have been helping drive up the prices for bulk more then the sellers. I've been auctioning my Silver Ore off in 100k lumps and buyers regularly drive the price from 2gc up to 3gc each BIN price. I at least use an auction to give the players a chance to get it lower.

 

If players would start demanding a discount for bulk instead of paying more, then they should be able to get it, but as long as the buyers continue paying more for the conveniance of bulk, this will continue.

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Hooked on phonics is a great help with those spelling errors.

 

The whole market is wack. Until people stop buying enough gold to pay whatever price they want for something then it will continue.

Edited by Kidberg

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In my experiance, it is the buyers that have been helping drive up the prices for bulk more then the sellers. I've been auctioning my Silver Ore off in 100k lumps and buyers regularly drive the price from 2gc up to 3gc each BIN price. I at least use an auction to give the players a chance to get it lower.

 

If players would start demanding a discount for bulk instead of paying more, then they should be able to get it, but as long as the buyers continue paying more for the conveniance of bulk, this will continue.

 

 

Hooked on phonics is a great help with those spelling errors.

 

The whole market is wack. Until people stop buying enough gold to pay whatever price they want for something then it will continue.

 

Yes I agree with you both, Im am also guilty of bulk buying and paying the BIN price. This is mainly becuse I was not sure when the next lot of bluk come along I would beable to bid for it.

 

As for demanding a discount this is imho what is needed but weather the ppl with lots of gcs will do this is another matter

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