Commodities Coming Soon to RMAH (Update 7/12)

General Discussion
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lower minimum price, can't sell any
how does the selling of commodities work, is it the lowest price gets bought out first? first come first serve basis?
I think it's fine that gold can be purchased at the RMAH. I think some of those blasting this move are the gold farmers. Too bad. You didn't think Blizzard would let you guys have all the fun, did you?

I detest Gold Farmers because they're causing inflation to skyrocket, preventing honest gamers from enjoying the game at higher difficult levels because they're prevented from trading for gear at reasonable prices.

If you're one of those guys who work at an office, you know what I mean. How can you compete properly at the Inferno level when bums who have nothing better to do farm gold all day, flooding the market with gold and making acquiring the right gear nearly impossible?

I, for one, don't want to buy gold from these guys because I can never be sure that they're truly legitimate and there's always a chance Blizzard will ban my account. Regardless of whether I think Blizzard is greedy or whatever, I still feel more comfortable dealing with them, as opposed to any of these gold sites, whose provenance and security cannot be ascertained.

I think Real-money Gold purchases does a few things:

1. It will (hopefully) reduce the number of people/shysters who sell gold. The reason is that if you can sell gold for x at the RMAH, why bother to sell it at a x-1 elsewhere? You're only hurting yourself and creating arbitrage opportunities for others to exploit;

2. It will effectively put a dollar value on the goods in the GAH. That will allow fast-moving traders to exploit arbitrage opportunities as well (i.e. buy undervalued goods at either house, sell for more at either house and convert the proceeds to Gold or Real Money as desired).

Arbitrageurs aren't bad per se: they serve a useful function in that they alert the market to price imbalances, thereby resulting in the faster leveling of prices.

Of course, for this to work, THERE WILL HAVE TO BE A CAP ON PRICES AT THE GAH. I expect it to happen. Otherwise, it would turn the RMAH into a simple Money Changer and defeat the purpose of having a parallel AH in the first place. Blizzard would not create a situation where others profit too much and it does not.

Want an example? Let's say that, once it becomes available at the RMAH, 1 million gold is equivalent to $1.00 at the RMAH where the cap on a single item is $250.

If I can sell a full set of 4 items for 2 billion (meaning 500 million Gold per piece), I can then turn around and sell the gold proceeds for $2,000 (i.e. 2 billion/1 million x $1.00) at the RMAH.

In contrast, I can sell those set pieces for a maximum of $250 each at the RMAH, for real proceeds of just $1,000. In such a situation, you'd definitely sell at the GAH because you're talking about doubling your profits by adding a few short clicks to your work, maybe adding a few hours if trades need to be validated.

With no cap on GAH prices, this would evolve into a permanent arbitrage situation because the rules are different in the markets. For the market to become efficient, the same rules (including limits) would have to apply to both AHs. Abitrage would still be possible but, as in the real world, only the fastest traders (or bots; they use bots on Wall St. too, by the way) would profit from it.

In such a climate, the only reason Gold Sellers would still operate independently would be because they can convince buyers that the transaction cost of dealing through their system, rather Blizzard's, is more cost-effective. If that were to happen, however, Blizzard could simply start banning the accounts of known Gold hoarders. The house always wins because they make the rules and have the muscle to enforce them.
When/if Gold ever becomes available as purchasable in the RMAH it will destroy sales of any other items in the RMAH. Gold farmers win casuals trying to recoup game costs will loose.
07/03/2012 09:08 AMPosted by Kaivax
The ability to trade gold as a commodity is not yet available, but we hope to enable it in the near future.


This needs to happen tomorrow. 7-11-12 tomorrow, not Soon™ tomorrow.
25c for any of the commodities is just plain silly. who is going to spend that kind of money on something they can get in the RMAH faaaar cheaper by value.
Allow only gold to be sold on RMAH please.
i just put up an auction for 243 exquisite essences at the minimum meaning the total for the order would be over $60 USD. I expect zero chance that this actually sells. Please drop the minimum to 5 cents for commodities.
I actually sold some flawless square gems but the auction is under review probably because the transaction time is 31 Dec 1969 04:00 PM PST for some crazy reason.
sad the only thing that should be on the RMAH (gold) is still not available
1000 exquisite essences on the RMAH: $250.00
1000 exquisite essences on the GAH: 1,600,000 gold. (about a dollar.)

THAT IS ONE HECK OF A MARGIN ERROR.

There is no way in hell that the multi millions of commodities will ever sell within the allotted time span of the auction.

There is no way in hell anyone with half a brain would ever buy any commodities on the RMAH.

As soon as gold is purchasable on the RMAH, there will be trillions of gold for sale, which will keep gold low somewhere around 1$ per mil...

How is the market supposed to stabilize with that sort of play?


pretty much this.

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