Diablo® III

Diablo 3 economic awareness

Posts: 167
There is a GIGANTIC disconnect in the current diablo 3 "Economy".
Im sure some of you know what im talking about but just to enlighten others, id like to start off by saying dont purchase gold until the rest of the market catches up with what im about to say. An 1H item like:

1k DPS
1.6 atk/sec
800 life on hit

Currently going for like 12 mill or so. This is probably close to what this item is actually worth in terms of "value". However the very large disconnect comes in when people are trying to sell gold for 18-20$/mill. They are in for a rude awakening when they realize that albeit a great item, it is not worth nor will it ever be worth ~220$. You would be VERY hard pressed to find someone to pay this amount for this item. So Yes to current market value of the item but no on the current value of gold. I expect gold to be trading at around 5$/mill VERY quickly and this items Real money value to be about 65$ or less. And of course decreasing as gold and these items become more accessible.
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Posts: 167
bump for knowledge :)
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Posts: 133
I think every person with a brain already figured this out. The fools have long started to part ways with their money so they can't be saved.

The best example is just keeping track of the trends in the going rate of gold.

It used to be $50/mil couple days when the game went live. Then it went to $27/mil. Couple days ago I saw $18/mil. Eventually when RMAH goes live there is going to be a huge influx of people selling gold and therefore crashing the market price. Without shadey dealers working together to create price fixing and constraining supply, I actually wouldn't be surprised if it ended up to be $1 per million or $1 per 10 million.
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Posts: 5,615
12M thats cheap i see weapon im interrested in between 25M and 100M
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Posts: 167
I think every person with a brain already figured this out. The fools have long started to part ways with their money so they can't be saved.

The best example is just keeping track of the trends in the going rate of gold.

It used to be $50/mil couple days when the game went live. Then it went to $27/mil. Couple days ago I saw $18/mil. Eventually when RMAH goes live there is going to be a huge influx of people selling gold and therefore crashing the market price. Without shadey dealers working together to create price fixing and constraining supply, I actually wouldn't be surprised if it ended up to be $1 per million or $1 per 10 million.


Im not saying where it would end up. Im saying where its going to start when the RMAH comes in.
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Posts: 167
Screw the ungldly ammount of money people want for stuff. Ive known the diablo economy for ages on d2. And i was always appalled at how shocking greedy people are. So now i just play to share items with friends or people i meet online that share my same vision. I would rather give you an item and make your day than be greedy and demand you give me a bajillion golds or some equal dope item for it.. MAybe im alone on this one, but if i dont need something. Im not going out of my way to make a huge profit on it..

My mission is a give n get back one. I give you dope items. You give me dope items you dont need but maybe i do.


Unfortunately the real world and the RMAH will not ever see it this way. You are far more philanthropic than most and hopefully you are rewarded for this in your life. However, if there is ever to be an economy on this game that can withstand even a few months gold can not be the basis of that economy. As the rate of inflation is going to be appalling. Unless blizz comes up with some real ways to reset this gold. IE dying loses gold. Or having regular resets (ie ladder/new ladder) but this might really deter people from spending money at the ends of seasons. (And also REALLY devalue items once the new season starts) but who knows.
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Screw the ungldly ammount of money people want for stuff. Ive known the diablo economy for ages on d2. And i was always appalled at how shocking greedy people are. So now i just play to share items with friends or people i meet online that share my same vision. I would rather give you an item and make your day than be greedy and demand you give me a bajillion golds or some equal dope item for it.. MAybe im alone on this one, but if i dont need something. Im not going out of my way to make a huge profit on it..

My mission is a give n get back one. I give you dope items. You give me dope items you dont need but maybe i do.


This is exactly what I do...
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The first RealID friend request / gold spammer that I got was advertising at $9 per 100k.

That was at a time when flawless square rubies were going for nearly that much, instantly, on the AH.
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Black markets are more expensive due to the risk. That's why gold is selling for that much.
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85 Night Elf Hunter
6665
Posts: 517
Screw the ungldly ammount of money people want for stuff. Ive known the diablo economy for ages on d2. And i was always appalled at how shocking greedy people are. So now i just play to share items with friends or people i meet online that share my same vision. I would rather give you an item and make your day than be greedy and demand you give me a bajillion golds or some equal dope item for it.. MAybe im alone on this one, but if i dont need something. Im not going out of my way to make a huge profit on it..

My mission is a give n get back one. I give you dope items. You give me dope items you dont need but maybe i do.

I'm very much like this also, but alas the majority are not.
Edited by Crackaphat#1715 on 6/3/2012 10:27 PM PDT
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the AH serves to control the Gold Supply.

When Gold supply is too high, Blizzard can sell items at discount thus absorbing all the gold, with bonus effect of more farming which floods the market with even more items.

When Gold supply is too low, Blizzard can buy items, thus injecting more gold back into the market.

The AH is designed with inefficiencies in mind, with 6 possible addons for every item, only 3 are searchable.

With inefficiencies comes dead weight loss. This is known as gold sink. Let's say your item is worth 5000G, but if it doesn't even get listed due to inferior stats, you have no option to bo sell to vendor at 168G. This is a good gold sink.

I can go on, but yeah Blizzard's got this department down.
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Posts: 5,615
the AH serves to control the Gold Supply.

When Gold supply is too high, Blizzard can sell items at discount thus absorbing all the gold, with bonus effect of more farming which floods the market with even more items.

When Gold supply is too low, Blizzard can buy items, thus injecting more gold back into the market.

The AH is designed with inefficiencies in mind, with 6 possible addons for every item, only 3 are searchable.

With inefficiencies comes dead weight loss. This is known as gold sink. Let's say your item is worth 5000G, but if it doesn't even get listed due to inferior stats, you have no option to bo sell to vendor at 168G. This is a good gold sink.

I can go on, but yeah Blizzard's got this department down.

except blizzard will do none of the above; they will not regulate or do anything on the RAH except getting their fee from sell.
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Posts: 167
06/03/2012 10:28 PMPosted by IDGAF
i hope the market crashes, i want these high prices COME CRASHING DOWN, i just HOPE in hell the gold farmers are going to crush the competition and force every scrub out there to sell for dirt cheap prices.


I dont think anyone that has an ounce of competition in them is asking for that. Leveling the playing field will happen on its own. I just wanted to make a post for gamers who might be frustrated about pricing. Its going to fix itself. Its just going to take a little time. First step is normalizing gold price.
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the AH serves to control the Gold Supply.

When Gold supply is too high, Blizzard can sell items at discount thus absorbing all the gold, with bonus effect of more farming which floods the market with even more items.

When Gold supply is too low, Blizzard can buy items, thus injecting more gold back into the market.

The AH is completely player driven, Blizz have stated they wont be selling items on the AH.

There will never be a low supply of gold, because it's being constantly generated by playing the game and there are only so many gold sinks.
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Posts: 139
isnt there a saying along the lines of a " a fool and his money will soon be parted " ???
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8 Troll Warrior
0
Posts: 2,117
If it sells it sells. If it doesn't it doesn't. Noone knows the "True Value™" of anything because funny enough nothing in this game has a "True Value™"
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