[Azure]

wow i love that video you linked was very helpful

[ZiggyD]

So second day in. I decided to go into explaining a bit more about why people are buying things for so much.

RMAH Market analysis

RMAH Market analysis

Anyone else have any ideas?

Quick Comments

nirvAnA:

Another excellent video. Very well explained!

[Cyanide]

Originally Posted by ZiggyD

So second day in. I decided to go into explaining a bit more about why people are buying things for so much.

RMAH Market analysis

Anyone else have any ideas?

I think you're not giving people enough credit, they are more savvy consumers than you'd think.
You did not account for the comparison of stats and "perfect rolls" on items.

Your blender analogy, while some what accurate, works because most people like you and I would not normally take the time to research what blender features matter. Or maybe it's the brand, or some extra feature that pops out at you.

Such pricing tactics will work only from time to time and if a person with a lack of knowledge in the game happens to be, *gasps*, incredibly stupid.

I feel that the bigger reason why people are buying items at seemingly overly high prices is because of the NOW and LATER factor.

Take Gold for example. First few weeks, it was about $35/million. Now, it's about $10/million. People still bought gold early on because they want it NOW, even with the knowledge that prices will drop LATER.

[ZiggyD]

Originally Posted by Cyanide

I think you're not giving people enough credit, they are more savvy consumers than you'd think.
You did not account for the comparison of stats and "perfect rolls" on items.

Your blender analogy, while some what accurate, works because most people like you and I would not normally take the time to research what blender features matter. Or maybe it's the brand, or some extra feature that pops out at you.

Such pricing tactics will work only from time to time and if a person with a lack of knowledge in the game happens to be, *gasps*, incredibly stupid.

I feel that the bigger reason why people are buying items at seemingly overly high prices is because of the NOW and LATER factor.

Take Gold for example. First few weeks, it was about $35/million. Now, it's about $10/million. People still bought gold early on because they want it NOW, even with the knowledge that prices will drop LATER.

All great points. I think there are definitely people who aren't researching very much, however, I think most of the large sum buyers are researching and being influenced by pricing. As I said this isn't to say that people are being tricked or that they are dumb, it's all about perception of value.

Great point about the NOW effect. Would have been a great one to throw in because it is having a HUGE effect. The first day craziness is essentially a mix of that NOW feeling with the relative value perceptions created by over-inflated prices.

Hoever you explain it - it's a good time to be a seller! haha.