Are there any plans to make EXEX more realistic in the subject of supply and demand?
Example- BlaZe ingots are 50 gp per ingot; pretty decent. I buy 1,500 ingots. The price per ingot is now 900 gp per ingot.
Metaphor- I stop and fill my gas tank up in my car before work twice in one week for the price of $3.46 a gallon. By Thursday, the price of fuel is $965.78 per gallon.
Whats the logic behind this?
The EXEX Pricing Formula
The EXEX Pricing Formula
...Dimiir Borgu
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ticketguru
- Grandmaster Scribe
- Posts: 99
- Joined: Fri Jun 12, 2009 11:25 pm
Re: The EXEX Pricing Formula
In the system that exex is, there is no way to control what the offer prices are. Someone was trying to sell you their ingots for 900gp and no one else was offering any for any less. In this particular case, it was probably an error on input; someone wanted to sell 900 ingot for 50gp but entered 50 ingots for 900gp as an example.
It might be possible to put a warning on data entry when the transaction seems off for the item type. But that would require +C to know what the correct selling price ranges are for every item, which doesn't seem right for admins to do.
It might be possible to put a warning on data entry when the transaction seems off for the item type. But that would require +C to know what the correct selling price ranges are for every item, which doesn't seem right for admins to do.
Re: The EXEX Pricing Formula
Oh right on then. Was just wondering how that worked 
Thx
Thx...Dimiir Borgu
Re: The EXEX Pricing Formula
In which country do you reside Agony?
Re: The EXEX Pricing Formula
Well, Exex can sell you only what other players have put up for sale.
It's a lot like, you asking in public chat if anyone has blaze ingots for sale, and you would get messages from three people, one that's selling them for 50gp, one for 60 one for 900. Of course you would first go meet the player who has them priced at 50gp, but he would only have 500 and you need let's say 2k ingots. So you naturally contact the other player who had them for 60, and buy another 500 for them, since that's all they have. So, now the only place you can get blaze ingots is from the one that sells them for 900 per. Up to you if you want to buy them though.
This happens with most "stocks" that have low liquidity. Both on Exex, and on real stock exchanges. For example, if you had 10 million dollars and you would try to buy stocks of some big company, let's say Microsoft, the price would probably not change at all (or would not even be visible within all the constant small price changes). But if you take those 10 million dollars and try to "market buy" some weird small company, you may as well pump up the price, not by just a few percent, but by a factor (was worth 1 cent per share, then can be worth 10 cents per share, or even a dollar... if there's nobody else that wants to sell it to you for less).
And similar is the problem with exex - certain things listed there have extremely low liquidity. But for the common items such as let's say: tokens, ed, elven notes, ointments, organics, iron ingots... that's not the case. A good indicator of "price health" is the spread. It should be within a few percent, 3-5%, maybe up to 10% or 20%. If you see something that has a 100% spread or 1600% spread, then it's not really a "stock" but it's just a few people that try to sell or buy it, but at extremely different prices.
The more important issue i think is that you can put up an order at just 1gp under the current price, stealing the trades from someone else (at just 1gp difference). But that's a completely different story
It's a lot like, you asking in public chat if anyone has blaze ingots for sale, and you would get messages from three people, one that's selling them for 50gp, one for 60 one for 900. Of course you would first go meet the player who has them priced at 50gp, but he would only have 500 and you need let's say 2k ingots. So you naturally contact the other player who had them for 60, and buy another 500 for them, since that's all they have. So, now the only place you can get blaze ingots is from the one that sells them for 900 per. Up to you if you want to buy them though.
This happens with most "stocks" that have low liquidity. Both on Exex, and on real stock exchanges. For example, if you had 10 million dollars and you would try to buy stocks of some big company, let's say Microsoft, the price would probably not change at all (or would not even be visible within all the constant small price changes). But if you take those 10 million dollars and try to "market buy" some weird small company, you may as well pump up the price, not by just a few percent, but by a factor (was worth 1 cent per share, then can be worth 10 cents per share, or even a dollar... if there's nobody else that wants to sell it to you for less).
And similar is the problem with exex - certain things listed there have extremely low liquidity. But for the common items such as let's say: tokens, ed, elven notes, ointments, organics, iron ingots... that's not the case. A good indicator of "price health" is the spread. It should be within a few percent, 3-5%, maybe up to 10% or 20%. If you see something that has a 100% spread or 1600% spread, then it's not really a "stock" but it's just a few people that try to sell or buy it, but at extremely different prices.
The more important issue i think is that you can put up an order at just 1gp under the current price, stealing the trades from someone else (at just 1gp difference). But that's a completely different story
+Colibri, Administrator of UO Excelsior Shard
Don't know what the purpose of your life is? Well then make something up!
(Old Colibrian proverb)
Don't know what the purpose of your life is? Well then make something up!
(Old Colibrian proverb)
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ticketguru
- Grandmaster Scribe
- Posts: 99
- Joined: Fri Jun 12, 2009 11:25 pm
Re: The EXEX Pricing Formula
This is very true +Colibri, but I think there is an issue of ppl mixing up quantity and price values when entering contacts. I think the easiest change you can make would be wording. Change the "AMOUNT" label to a "QUANTITY" label at all four places on the gump. That wording would be less ambiguous.
Re: The EXEX Pricing Formula
Ahhh. So basically when I hit the 900 gp ingots.. I actually did buy them out, and hit the ones some people were trying to sell at 900 (or possibly got the price and amount confused). Exex is right on the money then (cheap pun attempt) Thx!
Thx! ...Dimiir Borgu
Re: The EXEX Pricing Formula
The crazy prices seem to be the result of current Sgail questline, which gives players the opportunity to spend a few k colored ingots (boards and leather too, I think). This creates a huge demand where there was none before (coloured ingots sold rarely, since they were used only in BODs and even then in small quantities (up to 500 maybe)). Right now half of the ingots are bought out, leaving only the 'error' (or super greedy) offers on the table. And the situation will remain as long as the quests are active - mining 5k of a given coloured metal takes me a day (bout 8hrs or so) of work. And I doubt many ppl have the patience to do it a few days in a row. So supply will stay low.