RuneScape Economy Issue

Davo · **Posted:** March 11th, 2008, 11:11 pm

Noticed that ever since th GE was released prices of items that used to be worth a fair amount of cash are now virtually worthless? Alot of people (including me) were quick to blame the GE for this action. I've been thinking a bit tho, and its not necessarily the GE. It's the players really.

The key factor in the "Fall of the RS Economy" is LAZINESS/IMPATIENCE!

I'll explain:

Q - How does a market price for an item decrease?

A - If an item is bought for the low end amount for a frequent number of transactions.

This can easily be prevented tho actually. One of the main causes of the market price of an item to drop is due to pure laziness. Players would rather sell items at the lowest amount per, have the cash instantly, and hurt the rs economy rather than leave it sit in the GE for a few hours or so at market price or even a bit above, get more cash and promote the rs economy.

The mindset that everyone has is: "Oh, I better sell this and get my cash fast before noone else wants to buy it. Any amount is a good deal."

Truth is that sooner or later if you have an item posted at or above market price, all the items (of which are the same that you are selling) that are posted below market price will all sell. Most likely someone out of the hundreds of thousands of players are going to need the item that you are selling, and once the ones posted at prices below yours run out they will have no other choice but to offer higher if they really need it. If more people thought like this the economy would actually not be too bad.

Lately, I've been posting items such as laws, and mage logs in the GE overnight for more than market value. (giving them plenty of time to sit there and be bought) When i come home from school and login, they have most always sold for the amount i set if not more. And what has happened to the market price of these items? They have risen. Not drastically, but enough to keep people making money and to keep the economy flowing.

An item gaining a market value of 1 gp is better than it losing a market value of 1 gp right?

Anyway, tell me what you think about this. It's open for discussion. It's quite possible my theory could be wrong, but i thought I'd throw it out there.

Adbot · **Posted:** March 11th, 2008, 11:11 pm

Pfkninenines · Global Moderator 12/4/08

I'd fully agree that the players are using the Grand Exchange's system of cost-balancing to a somewhat lazy factor. People definitely love to get their money ASAP (myself included) so we're likely inclined to sell something for a lower value than the current market value. This would play into Jagex's formula for calculating the value of an item, eventually lowering the price.

Unfortunately, getting enough players to help stabilize the economy by refusing to sell immediately will be a hard task. At this rate, I wouldn't be overly surprised to see decreases in prices until some unknown quest will dictate that some item will be in high demand.

Southrend · **Posted:** March 12th, 2008, 2:35 am

The update the grand exchange needs is to see for an certain item the last 10-25 (or even more) transactions. That way you can see if you should really sell it low or sell it for a normal price.

So if I want to sell something I would look at the transaction history and see for example that people are actually buying it for normale price.

Jamie · **Posted:** March 12th, 2008, 5:53 am

This is actually a very good point that I never thought of. I think most people who use the GE sell things at the normal if not a higher price, but I constantly see people still trade-selling, and those are the people who are lowering the prices. The trade limit, while letting only a small margin of market price difference, is still enough to affect the economy because of those who abuse it.

tdog master · **Posted:** March 12th, 2008, 10:17 am

i totally agree out of laziness and wanting the items quicjkly i sell @ lowest price and buy @ highest all the time obviously affecting the market price

Big Karliny · **Posted:** March 12th, 2008, 1:22 pm

i must admit i am part of this down yet its imposible to sell items on highest prices (some tho) so i sell on lovet just to get rid of that items fast yeh i am lazzy but also same whit buying u try to buy at lovest to save cash so more of the time u forget about economy and get real nobody is going to pay 400 gp for big bones :roll:

edit: a bits of htinking i came to that form now on ill sell stuff on highest prices and try to buy at leats at mid price :wink:

Adbot · **Posted:** March 12th, 2008, 1:22 pm

ryan1 · **Posted:** March 12th, 2008, 8:20 pm

I agree. I noticed this the very first week it came out. Though I still disagree with a controlled economy, there are things the players themselves can do to control it a bit.
Although, I wouldn't call it laziness. I would call it 10-year-old impatience. And with the number of impatient younger players (perhaps older ones too, maybe I'm being too harsh on the young ones), I unfortunately foresee no change in the current situation.

jake the cat · **Posted:** March 13th, 2008, 2:34 am

Two things.

Well, maybe three.

1) you are right. Price drop is due, in part, to behavior of impatient players. But once prices drop to the point where a player can sell immediately at the average rate (rather than clicking the -5% rate), they will stabelize.

2) It is also due to huge, pent up inventories. Stacks of things (like pots) that people had in their bank, but didn't want to take the time to sell the old way (i.e., hollering in a bank). But once these inventories are worked through, prices should recover some.

3) For every lamenting seller of stuff, there is a happy buyer. Poorer, or newer players who couldn't afford things in the past have access to them now. Zero sum game. That doesn't make GE price drops bad for everyone. Just bad for some.

matthewda93 · **Posted:** March 13th, 2008, 4:15 pm

Didn't Jagex also set some price limits on the GE too?

Davo · **Posted:** March 13th, 2008, 5:51 pm

matthewda93 wrote:

Didn't Jagex also set some price limits on the GE too?

Yeah, Im pretty sure an item cant fall below its high alch or general store value. Im pretty sure its general store value tho.