What is the max we can tempt Central Bank to bid for? (in General)
Putting an item in the AH at a rediculous price won't get Central Bank bidding, and giving you loads of cash.
But how does Central Bank decide what to bid on?
Is it something to do with Average Price minus NW from the items/overview page?
For example, I have a level 220K JF with a NW of aorund 4 million. It's Ave minus NW would be about 3.5 Mil.
I doubt anyone would purchase this small tattoo for that much, but if put into the AH for 3.5 Mil, would Central Bank bid on it?
Or 3 Mil? 2?
How can we maximise cash returns for Central Bank bids on items that are either not wanted, or usually to large for re sale?
October 3 2006 9:49 AM EDT
I believe it bids at the average price in the past auctions. You can always try it out ;p
October 3 2006 9:51 AM EDT
it does it on current market value if I'm not mistaken, if it is lower than what it really should be sold for, central bank will bid on it. I'm not sure how much lower the bid has to be under market value to get a central bank bid on it.
CB(hehe, it works!) would bid on it, probably depending on the Min set, obviously.
All past auctions for that item?
So if you have a 70 Mil AXBow, but every other AXBow auction that went before sold for 100K on average, CB would only bid up to 100K for it?
Flamey, how do you work out current value? Is it the Average price minus networth fromt he items page?
October 3 2006 10:02 AM EDT
ok, now this is really taking a stab at the dark, but current market value would be average price of past auctions, but that is determined by the NW as well. i would just say its past auctions, but your example makes sense.
but it cannot be that either, GL. Take a look at VB, its av. price - NW is about -$500k, but CB will still bid on it.
i'm going to have a look at previous auctions to find out what it is, tattoo's might have a different story altogether, because you see 30 mil tattoo's selling for less than 5 mil and CB hasn't bid on them either.
October 3 2006 10:04 AM EDT
Tattoos between about 400k level and 900k level in auctions generally go for about 2-3 million regardless of size.
Tattoos are a different market though, as most people seem to insta them when they get to a certain size rather than sell outright.
October 3 2006 10:06 AM EDT
current value is the value listed on the items overview pages.
it's the value above NW that you need to check, if this is say 1 million and the NW is 500k then the value is 500k for the game.
October 3 2006 10:13 AM EDT
sorry, shade, for being thick but.. what is 1 million? and was the value the NW or 1 million - NW?
"Take a look at VB, its av. price - NW is about -$500k, but CB will still bid on it."
If the current price is the Average Price minus NW, then a 2Mil NW VB would be currently worth 2 Mil - 500K or 1.5 Mil.
At least I think so.
Then, what is the maximum value CB will bid on for this current priced VB?
October 3 2006 10:30 AM EDT
CB uses the same "market value" calculation used for charging fees on item transfers. It's primarily a linear interpolation of the closest past auction values. One implication is that CB is "aware" that huge NW items usually go for less than NW + average premium.
It seems to me it is influenced by recent prices more than anything else.
October 3 2006 10:34 AM EDT
its average price - NW, you did NW - average price i think.
if it was NW - av. price, okay, but that doesn't make sense, and average price is the recent auctions average? I'm really confused tonight :\
October 3 2006 10:36 AM EDT
sorry i was just slow in typing that and didn't see Jon's post. basically CB will bid recent auction prices if the bid isn't there to keep value the same and not cause it to fall or drop.
So if I buy a Heaume from GL for $5 million and then turn around and sell it back to him for $5 million, then there are two recent auctions for $5 mil bumping up the price Central Bank will pay?
October 5 2006 2:36 AM EDT
That's good idea, Panda. I think I will volunteer to start the experiment with GL hehe, if he has the cash, let's start with base daggers hehe :P
Once I've paid off my loan I'll have some cash! :P Why don't you guys start without me! ;)
But it's a nice idea. Not daggers/whips though, you'd need an item that would be large enough to be auctioned.
Buy a few of them, auction one between yourselfs for a large amount (that you both share the cost of), CB will gain from the auction hosting prices, then auction the stock you have and let CB buy them. ;)
October 5 2006 6:14 AM EDT
well, I think Jon will reset us for this LOL
October 5 2006 6:17 AM EDT
Isn't this the sort of thing that gets people jail sentences IRL?
October 5 2006 7:19 AM EDT
Yes, I believe it is referred to as "price fixing" :)
Jon gets his cut from the auction hosting costs! ;)
(BTW I fully don't endorse this! :P If it's viable in the current system, I'm sure Jon will shut it down. ;) )
October 5 2006 11:04 AM EDT
I'm remembering draws here...
October 5 2006 11:08 AM EDT
perhaps if you test it with not so high amounts of money, and don't keep the money then it could be a point of interest for Jonathan to fix :)
October 5 2006 11:55 AM EDT
$15,000,000 bid by Central Bank (Mr. Chairman) on May 10 2006 11:41 PM EDT
Is the highest I can remember seeing personally, on a set of 19M NW DB's.
October 5 2006 4:36 PM EDT
You say "It's primarily a linear interpolation of the closest past auction values", now is that  the most recent auctions for that item or  the only including the least statistically-deviant sales (not including anomalous sales; i.e. closest to the line of best fit).
Another question; if the first one is true, which I believe it to be; do you use time to determine 'closeness' or say the last 'n' sales?
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