Seriously. There is a 700 bid up at 7k per. We all know that no one thought , hmmm, 7k crowns per 100 ce? Thats the highest its been in over 5 months, now is certainly the time to buy up 70k ce at this amazing rate!!!
No. This is someone who has 100k+ CE and millions of crowns. They post up a giant 700 wtb lot, trying to force the CE market up (as was done at 6800, 6900 and 6950). They are trying to push the price as high as possible, so they can sell off 100k+ ce at 7500-8k crowns. Then they will remove their bid, wait for a CE package inevitably to bring rates back down, and rebuy all their CE at 6k per.
OOO claims that the CE market is player driven, but that's a fallacy. The price of 100-1k ce is price inelastic. If a player has a piece of gear they want to upgrade then they can't wait a week for that 700 bid to clear, so they are put in 1-2 bids above it, multiply this by 100s of players needing small amounts of CE quickly, and this is why giant WTB blocks can force up the market.
If there was a listing fee for posting WTB blocks. Or if they were completely uncancellable, then "rich" players could not manipulate the market like this to take advantage. No one would post up a giant 700-900 WTB block if it took 10% of their crown's if they canceled it, or if it was locked there until it sold.
Its pretty obvious, everyone knows it, and to just say "no no no, its a player driven market" is to overlook the obvious. YEs, the market is driven by players, but this can be done in unscrupulous ways since the system is designed in such a way to be easily manipulated.
On a macro-scale, these price fixes can only work on a limited basis. But in an inflating economy, rich jerk's can jack around the system.
OOO need only make there a listing fee (if returnable for nothing if you actually buy the bid you placed), a cancelation fee, or lock in bids for a set amount of time (a bid cannot be removed, but automatically returns to your funds after 30 days).
Or, the more simple and most obvious idea, if its player driven just make CE a purchasable, sellable commodity in 100 lots on the AH.
tl;dr
not a thread complaining about the high cost of CE at all. Just a thread addressing the obvious and easy fixes needed to stop price fixing in CE market.
I fully support this thread.
Asukalan approved.