Explanation: Warframe.market

[EverdarkRaven]

Can we go back to a basic economic class for a minute?

Warframe trading is a free market. Pop Quiz: How are prices determined a free market? A: A balance of supply and demand. This is why some items that are worthless, (Taxon's rifle's riven mod) costs so much money. There is little supply and the demand warrants a higher price. The price that an item is "worth" in a free market is called an equilibrium. 

Prices are not determined by a buyer or a seller. Warframe.market, as much as you might dislike it, helps us determine equilibrium prices. When more of an item is put on the site, the prices tend to go down. If you look at a lot of rare mods they hover around 3-6 platinum. If someone tried to put a rare mod up at 10p when there are a lot of others at 3-4 it simply will be a lot harder to sell because it is above the equilibrium. Item's like Legendary Fusion Core's however, are harder to determine because there is a limited supply. The range is from 300p to 600p. The "equilibrium" one would suspect to be around 400p looking at warframe.market. 

If you want to sell at your own prices, that is fine. It is a free market, you do you. But you should at least look at warframe.market to try to find where the equilibrium is. That way if you want to sell something quickly you know where to put it, and if you want to actually get the plat you think it's worth you know to expect a harder time. 

Edit: Another way you can think of it, is that warframe.market and in-game trading are direct competitors. If there are two identical hot dog stands across the street from each other, one selling their hot dog at $4 and the other selling theirs at $2 who do you think is going to have the longer line?

Edited June 8, 2017 by Skyeborne

[TaricTheAncient]

15 minutes ago, Skyeborne said:

Can we go back to a basic economic class for a minute?

Warframe trading is a free market. Pop Quiz: How are prices determined a free market? A: A balance of supply and demand. This is why some items that are worthless, (Taxon's rifle's riven mod) costs so much money. There is little supply and the demand warrants a higher price. The price that an item is "worth" in a free market is called an equilibrium. 

Prices are not determined by a buyer or a seller. Warframe.market, as much as you might dislike it, helps us determine equilibrium prices. When more of an item is put on the site, the prices tend to go down. If you look at a lot of rare mods they hover around 3-6 platinum. If someone tried to put a rare mod up at 10p when there are a lot of others at 3-4 it simply will be a lot harder to sell because it is above the equilibrium. Item's like Legendary Fusion Core's however, are harder to determine because there is a limited supply. The range is from 300p to 600p. The "equilibrium" one would suspect to be around 400p looking at warframe.market. 

If you want to sell at your own prices, that is fine. It is a free market, you do you. But you should at least look at warframe.market to try to find where the equilibrium is. That way if you want to sell something quickly you know where to put it, and if you want to actually get the plat you think it's worth you know to expect a harder time. 

Edit: Another way you can think of it, is that warframe.market and in-game trading are direct competitors. If there are two identical hot dog stands across the street from each other, one selling their hot dog at $4 and the other selling theirs at $2 who do you think is going to have the longer line?

Dis guy knows wats wat. I sell tons of things on warframemarket and i always undercut cheapest by 2p.

[ComCray]

22 hours ago, Doubleplus said:

Basically it all boils down to this: Warframe.market is for people wanting to unload stuff quickly and easily, and who dont mind taking a bit less plat if it means undercutting the competition, which is all in all good for buyers. Basically think of one big garage sale where people are just trying to get rid of their junk to clear up space and make a bit of money. 

Sorry but that is nonsense, bordering on insulting. Maybe it works that way for you but my guess is that many of the WM users just don't want to waste hours in TC, hoping to make a few extra bucks. People who want to actually play the game rather then stare at a horrible chat interface for hours on end. 

I generally got about 24 (unique) items on sale on WM, some with more then one item in stock. I dare not to think about the hours I should waste in TC to sell even half of that.

As to the prices, Vulkar Wraith does ~150p in the chat (according to Nexus) but ~175-180 on the market. So I'm not so sure the "undercutting the competition" argument actually works IRL.

 

Look, apparently getting the best price is part of the game for you. And that is totally cool. But you must understand this doesn't apply to all Tenno. Generalized statements like yours are generally wrong.

[OperatorTabris]

Some people just take the first website they find and assume everything on their must be true so why not go by that? Which is a trap a lot of new players and even some old players might fall into.

[Kusungphak]

Well its a negotiation. Like any other forming of buying transaction happens if both parties agree. No excuse for any party to act hostile. I would just ignore if the buyer or seller starts to get angry for my offer. 

[PsionicSt0rm]

Honestly, this seems to be the same thing that happens on games that feature a similar trading system like path of exile. People would have a bunch of money to buy up cheap stock and then sell at an under cut value, only to buy that item they set for even cheaper. Kinda like price fixing. It's honestly interesting that it made it on to here.

[Mak_Gohae]

everyone is just trying to make a buck, just keep on grinding. You will eventually find some one that will pay.

[SharkPot]

Well wfmarket is for people who don't have any knowledge about trading. And wfmarket isn't updated dynamically every day according to trade chat aka outdated. And at the end of the day trade is b/w 2 players where the price is decided by the players doing it. If you insist on bringing an outdated third party that normally sets value around an outdated base average, sorry but I don't indulge on that. There maybe times when wfmarket may say something is 20 plat for some prime item, but people out there will buy it at lot more than that price like the vaulted items some might sell arcanes 500 a piece some one else sells it at 300 a piece.

TL;DR: If you're gonna use a third party site for trading good for them, but don't bother people who don't care about outdated sites.

[Ghogiel]

46 minutes ago, SharkPot said:

Well wfmarket is for people who don't have any knowledge about trading. And wfmarket isn't updated dynamically every day according to trade chat aka outdated. And at the end of the day trade is b/w 2 players where the price is decided by the players doing it. If you insist on bringing an outdated third party that normally sets value around an outdated base average, sorry but I don't indulge on that. There maybe times when wfmarket may say something is 20 plat for some prime item, but people out there will buy it at lot more than that price like the vaulted items some might sell arcanes 500 a piece some one else sells it at 300 a piece.

TL;DR: If you're gonna use a third party site for trading good for them, but don't bother people who don't care about outdated sites.

Seems you don't know what WFmarket is and are confusing it with other sites like wftrading.

WFmarket are price listings of actual items being sold from actual named players who are online in the game ready to trade in real time. It's not pointless manipulatable averages gleaned from spurious player submitted data. Basically WFtrading is complete and utter garbage and has always been so. WFmarket has allowed me to sell dozens of things I would otherwise never bothered to sell in trade chat. Made many 1000s just putting up a listing and forgetting about it until someone pms me.

All I do is show myself online and when buyers search for an item, they can see my price and then pm me in game if they want it. I have dozens of listing,  prime mods, sets, vaulted stuff, arcane helms, literally anything, you cannot in anyway replicate the amount off stuff I list on WFmarket with trade chat. With trade chat I only sell a hot items like a new mod or prime set or rivens, or stuff I know will look appealing and get bites very quickly. The occasional whaling. All normal trading I do through WFtrading. Similarly if I am buying something I'll just look on WFmarket and pm the lowest priced seller and get it there because spamming trade chat with a low price is more effort imo.

Edited June 10, 2017 by Ghogiel