User:Tennessee Ernie Ford/Market watch
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Market watch[edit]
Market tools in GW2[edit]
- The Black Lion Trading Company is an amazing tool for buying/selling goods (although not so much for services). Obviously, you can see currently offered/requested prices, but it provides other data as well:
- Supply & Demand: you can see how many items of a certain type are being sold at a given price and how many are requested at other prices.
- Catered pricing: Unlike vendor pricing, players only have to pay as much as they are willing to spend (and never sell below their minimum acceptable price). This is more like how airlines sell tickets (every customer might have paid a different price) than commodities (everyone pays the same price for an apple at the supermarket).
- Commodity pricing: NPCs sell & purchase items at a fixed price (so far, it doesn't seem that this is influenced by personality or other variables).
- The vendor price is the NPC's WTS and the item value is the NPC's WTB. An important tool for determining what the market might bear (buy or sell) is the value ratio, the NPC's WTS (price) divided by their WTB (value).
- This varies considerably: from at least as high as 150:1 (Spool of Gossamer Thread) to ~5:1 (low-end armor).
- A reasonable definition of a fair price is the average of the WTB/WTS available without using the marketplace, which varies from as high as 75 times the value (thread) to as low a multiple as 2.5 (low-end armor). This a useful concept because you can always see an item's value (via its icon) before you put it up for sale or offer to buy it.
- Not every item can be purchased from vendors for coin (and some cannot be purchased at all).
