Central Bank bidding and market price. (in General)
January 30 2006 5:43 AM EST
As said in some other posts, Central Bank bids up to market value, or said to be bidding 70% of NW for high NW rare items.
So if Central Bank bids up to market value, and then gets outbid, after a few items of that type, Central Bank will have a new market value or not?
So wouldn't Central Bank then bid higher than before or would it still have the older, now little below market value, bid on it?
any thoughts? :)
January 30 2006 5:52 AM EST
Central Bank is not the only player on the market...
I don't think the 70% figure makes any sense, see Stats->Items->Overview instead.
Bart, if Central bank never has it's last minute bids beaten, the market price never goes down and can only increase.
January 30 2006 6:07 AM EST
CB doesn't bid on store auctions and black market auctions, does he?
January 30 2006 6:17 AM EST
hmmm, you're right... lol missed that point.
Oh.... More power to the BM auction then. :)
Central Bank bidding too high on something, organise people to vote for it, then not bid (or get someone to bid a dollar - with a proper sale arranged through FS/WTB forum) to force prices lower...
January 30 2006 8:24 AM EST
"As said in some other posts, Central Bank bids up to market value"
:) Ah ha!
If the bid is below market value, C Bank will place the next bid in line. And will only bid once.
Therfore, C Bankcould bid a really low bid (if few people bid) and then could lower the market value!
January 30 2006 8:42 AM EST
If it really is a problem for you people then just suggest that it be removed. Your solution shouldn't be the manipulation of the market value. It would only lead to larger problems.
Besides, as Jon clearly says, the bot doesn't go to the market value. Only an idiot would make up such a bot that bids up to "market value". (Jon is not an idiot last I checked.) Something like 70% makes sense since it still allows you to buy the item at 73.5% of the market value. (Or at 70% if you beat the bot to the punch.) Thus, the market value can steadily drop just in case it isn't worth what it use to be. (nurfs, other item buffs)
:P Replace 'Market Value' in my post above to 'Jon's arcane formula for deciding whether Central Bank bids on an item or not'. ;)
January 30 2006 10:38 AM EST
My opinion is not to auto bid anything.
Because if an item is not want , then it's market value is not worth it.So why should it be changed ??
Market Value is what represents the value of ppl who buy it,
so if there is some autobid then there is no Market Value but, at least
January 30 2006 12:03 PM EST
Tyra: what other ideas do you have to motivate sellers to use auctions instead of FS/WTB?
inform folks that rare items are worth having again?
(I know I've said this before, but I sincerly believe a large portion
of the population here remember having a huge pile of PR added
on the last time they tried out a rented rare item, which should no
longer be the case.)
January 30 2006 12:33 PM EST
the market is efficient on its own. Intervention or price supports damage the efficiencies. Call it what you want...It is still just manipulation!
Just a side note: I see one Blackmarket auction won by Central Bank, and least one other with a last second bid that was beaten. So yes, even though only clan members and supporters can bid on those items, Central Bank and its auto-bidding bot also can bid on them. Bug? Or just an oversight? I don't know, but it doesn't feel right.
Here is the MCM blackmarket auction that Central Bank took:
January 30 2006 4:24 PM EST
Mithril Chain Mail 158 $692,622 $582,118
That is the stat line on the MCM as per item overview.
So central bank paid a bit MORE than the average price minus NW.
$729,304 bid by Jonathan (Central Bank) on January 11 2006 9:31 PM EST
I am shocked that a bid of the average price minus NW was not good enough for central bank.
Sounds like someone is trying to drive up prices.
January 30 2006 5:18 PM EST
And not to mention that Central Bank didn't vote for that item in the Black Market!
January 30 2006 5:52 PM EST
Down with Central Bank !!! It's not real, just an illusion...
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