Quote:
Originally Posted by Izmael
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There's no such thing as overpriced. There are asked prices, offered prices, and market history (when ask and offer meet).
If I auction a Fungi for 1 million pp in EC tomorrow, it will not make that item overpriced, it will just not net me any buyers.
The right price is when offer meets demand, and that means that this is the right price for that particular item, at that particular time (bonus points if you just said "catch 22").
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In a more sophisticated market this is correct, however in the p99 market you can take an item like a pre-nerf CoS and do what Boutik does. He is buying them and marking them up. Since there no reasonable replacement item (you couldn't do this with most haste items because of cheap alternatives like SCHW) he can do this continuously and people will continue to pay up for them because that is just the way the market appears to be moving. Again, its a useful item with no similar replacement, and high end players need it.
On top of that, other legitimate sellers are going to see the items changing hands at a higher value than they thought they could sell one. What do you think they're going to do? Sell it cheaper because like vigilante economic justice warriors? Nope - they're gonna get that pp because the market actually is there to buy at those levels.
At some point they will definitely top out. That might be now (25-30k) or it could keep going a little. Nobody is going to pay 100k for a pre-nerf CoS, but make no mistake, if re-sellers didn't do this to the CoS it would still be 1/3 of the price. These are guys who are capitalizing on ppl not wanting to sit in the tunnel. They have tons of time and know what they are doing. The rest of the market will just tag along.
Personally I think its equal parts brilliant and pathetic.