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Establishing a Fair PriceFollow

#1 Oct 18 2010 at 5:29 PM Rating: Decent
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I have only played one MMO prior to FF14, and that was PSObb - even with that considered, I never played enough of that to really get the feel for MMO's in general.

I'm a lvl 9 Black/Goldsmith with lvl 9 in Armorer, soon I will be able to craft reasonably "sellable" items to bump my GIL. Initially I was going to set price based on what an NPC would buy the item for, seemed like a good guideline; however I keep seeing talk about "bubbles in the market", "soon x will loose value as y and z become more common".

Now whilst I understand the basics of real world economics, and get the whole "cost of materials + labour + demand(profit margin implied here)" idea, is there any simple method you guys (and girls) take to calculating the value of your warez, because surely all these players can't be sat down with notepads and shirt collars undone going over the books and sweating over market values and the world economic theatre!

Any examples, or rules of thumb would be appreciated before RAGE with my lvl 12 GLD and get my *** handed to be by a sneezing antelope!
#2 Oct 18 2010 at 5:33 PM Rating: Good
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Goto Market Ward, look around for the same items. Then set your price in accordance to it.

Not much more to go on :)

http://www.ffxivpro.com/

As a price watch system, but since there is no AH it is self-reported. You can look at the Want list and see if the price people are willing to pay is worth your time. If so, thats your price :)
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#3 Oct 18 2010 at 5:53 PM Rating: Excellent
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KismetNyx wrote:
is there any simple method you guys (and girls) take to calculating the value of your warez, because surely all these players can't be sat down with notepads and shirt collars undone going over the books and sweating over market values and the world economic theatre!


Actually, I keep a spreadsheet open on my laptop next to my gaming computer and note down the price and quantity of items I see when browsing through the wards. There's no selling history, even on your own bazaar, so if you don't jot down what you're selling and for how much you'll never know what goods are moving. It helps when comparing recipes to raw goods in estimating what an item's value might be.

Keeping in mind the NPC sell value also helps determine if the item is even worth listing and taking up 10% of your available selling spots. Vendor prices and supply are also a variable I keep track of, as these establish a ceiling price on goods with a 20-40% variance depending upon city availability.

Then I throw all that away, place my retainer in the very first Ward regardless of what I'm selling and mark up my prices by 50% to 200%, depending upon my mood.

Edited, Oct 18th 2010 7:58pm by Whales
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