Spiral Knights - Auction House Recipe Insanity

Auction House Recipe Insanity

27 replies [Last post]

Mon, 05/23/2011 - 18:19

Stray_Cat

Legacy Username

I don't know what the hell is up with the recipe Buy it Now prices at the action house....

Its 25,000 crowns for a new 5* recipe from Basil. why are people charging 60k for some recipes? I thought that (prior to the auction House) paying more than a 2-3k mark up was a rip off. but this... This is just insane.

The worst part is that people actually bought some things I was bidding on at the Buy It Now price... in one case, a 30k mark up, 55k for a Grey Owlite Shield Recipe. I saw one today with a Buy It Now price of.... 75k. a 50k!!! mark up.

Does anyone have any insight? I know the price will be whatever the market can bear.... but who are these people that dont give a damn about paying over twice the amount as actually finding the product? Im seriously contemplating buying any 4* and 5* recipe I come across, because whoever these sellers are... they are making bank, and the buyers don't seem to mind.

Mon, 05/23/2011 - 18:25

aeolianmode

Legacy Username

Yeah I had a friend who sold

Yeah I had a friend who sold a 5* recipe (don't remember which) for 60k on the AH. The only explanation I can think of is that people are really lazy and don't want to scour basil's to find their 5* recipes.. I know from experience that sometimes it can take many days before you find the one you need, and when you get that oh-I'm-almost-there-I-gotta-have-it feeling that comes with 5*, people can be reckless..?

That's all I got for you.

Mon, 05/23/2011 - 18:29

Arterra

no basil teleporting anymore

Mon, 05/23/2011 - 18:32

Stray_Cat

Legacy Username

well....

People who were selling ports to Basil were making 2-5k a port... now, (presumably) those same people are making 20k - 30k per recipe? I don't know.

Mon, 05/23/2011 - 18:34

LCBelgarath

Legacy Username

That,

and people can't buy premades so there is more demand for popular recipes.

Mon, 05/23/2011 - 18:38

aeolianmode

Legacy Username

@ Stray cat Yeah, 2-5k a

@ Stray cat
Yeah, 2-5k a port but depending on the basil roll it is typical to get on average 25-30 sales, if one is persistent. I have personally witnessed someone with an excellent roll selling an excess of 11 hours. Logged off, about 11 hours later logged on and he was still going at it...

Mon, 05/23/2011 - 18:38

Madadder

its ludicrous imo but whats

its ludicrous imo but whats more is that people actually buy them at those prices

Mon, 05/23/2011 - 18:51

Stray_Cat

Legacy Username

Hmm...

@Aeolianmode touche, very valid.

@monkeyman135 Yeah, thats pretty much my point.... Whether or not the seller picks the ridiculous price... buyers are still picking it up at that absolutely absurd price.

Im seriously just gonna start buying and selling 4* and 5* recipes.... i see nothing else making as much money; the mat market was wiped out as soon as everyone realized how many mats there actually were just lying around doing nothing in people's inventories...

New binding rules have wiped out the premade market. (except for 3* and less, of course)

So... Recipes. Yeah.....

Mon, 05/23/2011 - 18:55

Eeks

There are a lot of factors at

There are a lot of factors at play here. Since the patch there has been

Increased Demand - If someone wants a grey owlite shield they now have to learn the recipe. This means there is more demand for recipes than before.
Decreased Supply - Removal of Basil ports, no more jumping into runs after 21. Everyone is at the mercy of the final boss, Basil, now.
Increased Overhead - Not only is there an investment of 25k that needs to be made, but the auction house charges 10% which means that the base minimum break even price for recipes is a little under 28k which means that to make a profit there needs to be higher than 3k markup.
Increased Risk - There is no guarantee that you will sell a recipe. This means either taking a loss on the recipe or losing your listing fee. On top of that you're banking on the fact that the energy exchange rate remains stable for the time that the auction is listed because investing 25k is the same as sitting on 25k in crowns instead of converting it to energy. Also the max duration of recipes is 2 days. If someone undercuts your price, it pretty much means you are out whatever listing fee you paid.

If you don't want to pay over 28k for 5* recipes go Basil diving for yourself.

Mon, 05/23/2011 - 19:34

gell

Legacy Username

who indeed

While you complain, I will make lots of profit. If you're happy with complaining, that's fine. I'm fine with profit.

Mon, 05/23/2011 - 19:40

#10

Droganis

Legacy Username

I'm not surprised

With the new binding rules, I figured recipes would go for double the value, at least the popular ones. Everyone has to get their own, Basil is a close-fisted bugger, and constantly running the first half of a stratum is annoying/boring, so people shell out money. Also, think of it as similar to the money crafters were making selling 5* gear. Margins there could easily be double cost, depending on the item. Plus the bits Eek5 already said that I didn't.

Mon, 05/23/2011 - 19:46

#11

Splinter

Usually I put mine up for 3

Usually I put mine up for 3 or 5k about buy price as an auction and make buyout about double, if someone is impatient enough to buy it out, then so be it, I'll take the 20 to 25k bonus, but if someone waits they can typically get em for 3k or so above Basil, without searching. I think thats more than fair. If the demands there, you should blame the people buying for these outrageous prices.

Mon, 05/23/2011 - 20:13

#12

ComplexMuffi

Legacy Username

@aeolianmode

taht friend was me :) and it was a royal jelly shield taht sold for a nice 60000 :)

Mon, 05/23/2011 - 20:21

#13

Dogrock

I've put stuff up for the

I've put stuff up for the same price you can buy it from Basil with no "buy it now" price. All my sales are what people "tell" me they want to pay. If someone want's to pay 40K plus for a 5-star recipe I just happened upon I'm not complaining.

Mon, 05/23/2011 - 20:30

#14

Stray_Cat

Legacy Username

I understand sellers

I understand sellers profiting, and TRYING to profit. Im not complaining about that at all, if I were, it would be hypocritical of me to contemplate such a path for msyelf, which I currently am. Thats what sellers do. I just want to know what kind of person (moron?) is buying stuff for that high. I dont understand it. yes, the first half of a given stratum is boring... but Id rather do that on free Mist, make money while doing it, AND eventually find what im looking for, instead of blowing all my cash on something that worth half or less of what im paying.

Mon, 05/23/2011 - 21:01

#15

gell

Legacy Username

Probably lack of patience,

Probably lack of patience, but back when I was looking for certain 3* recipes, I could go 20 runs in T2 without Basil throwing me a bone. I never paid more than 3k over Basil's price for the recipe (this was pre-AH), but you can see how someone might go nuts after 20 basil runs without seeing the recipe he wants. First I was patient. Then I was annoyed. Fortunately I found a seller in trade chat who was luckier than I, and paid him for his recipe.

I've also sold 2* recipes for 4k on the AH. Best I ever got in trade chat was 3k I think.

Mon, 05/23/2011 - 22:53

#16

Luden

Legacy Username

yea tell me about it, i made

yea tell me about it, i made 400k in one day buying recipe off trade chat and dumping them into AH.

Tue, 05/24/2011 - 01:58

#17

Kaybol

Legacy Username

lack of patience

gell: Probably lack of patience, ...

I'd go with this too. Some people may have tried a bunch of times to get the recipe from Basil. Now the AH is here. They might not have the time to wait until the remaining time is Medium to Short. They might not want to try and get it for a decent price and try for another recipe if they get outbid. So they get the one that has the lowest Buy Now price. And that happens to be 60k. Oh $%&^ it. :)

I for myself decided it was more fun going on an extra JK run and spend the 8k from there as an AH fee, than get killed in T3 just to have Basil tell me, "no 5* recipes right now, come back later." So basically I'm willing to spend 33k on a recipe that costs 25k at Basil. That's 5k profit for the seller that I'll happily give them, it only costs me a day of progress but I possibly gain many days due to Basil's randomness.

Tue, 05/24/2011 - 02:24

#18

Pawn

@ stray-cat

I generally won't pay more than 30-35k for a recipe. A big problem is that it is actually possible for basil to NEVER have your recipe. Thus, 60k can look legitimate. Think about someone who has done 30 t3 runs looking for Divine Avenger, Gran Faust, Vogs, etc. 60k is a steal when it's the only copy of the recipe you've seen and you have a ton of crowns/CE (because you have nothing to spend it on because basil never has your recipe).

P.S. I agree it's ridiculous, but more so it's ridiculous the chance there is for basil to not have your recipe for a VERY long time. Lucky for me, my brother and i can work in conjunction. It's understood if basil has his recipes he needs, i buy them and always sell them at cost. He had done 10+ t3 runs and zero luck. He couldn't find his recipes in town. In 2 days i bought them all for a total of 82 k for 3 5* recipes. He was getting so frustrated. A day later, he picks up the acheron for me. We both saved a ton of money.

Tue, 05/24/2011 - 02:34

#19

kbe2k11

Legacy Username

Yea I thought AH was going to

Yea I thought AH was going to make it EASIER to get the stuff I need, sure the availability is there but the prices are just insane, two reasons I wanted the AH one was to sell extra equips I've crafted (can't do that now) and two get recipes I needed (if I want to pay twice+ as much sure) and Basil is extremely annoying and never has the recipes either so I can see why people would just shell out the money, hey if you can't beat em join em I'm defiantly buying up any recipe I can turn a profit on regardless if I need it or not.

Tue, 05/24/2011 - 02:55

#20

Kaybol

Legacy Username

I'm defiantly buying up any

I'm defiantly buying up any recipe I can turn a profit on regardless if I need it or not.

That's the way to go. You can spend your profits on buying the recipes you need. :)

Tue, 05/24/2011 - 03:15

#21

Raspberry

The real auction house insanity

Is getting bombarded at the Auction House by the influx of new players who truly believe that this game is F2P as advertised.

Is there a function to disable automatic opening of trade window? It's hard to keep up with bids which are ending soon or adding items to auction when beggars are stalking the Auction House for free gear, crowns and CE. It seems like there is rampant begging in all instances of Haven Auction House. No instance of Haven is beggar free.

Tue, 05/24/2011 - 03:41

#22

Kaybol

Legacy Username

beggars gonna beg

Is there a function to disable automatic opening of trade window?

When someone sends you a trade, it doesn't open a trade window. It pops up a dialog which you can Hide. Choose Hide and you won't get bothered when the same person sends you another trade request. :)

Tue, 05/24/2011 - 06:32

#23

Bigindian

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Auction House Recipe Insanity