actually the price of a hr has deflated signifigantly (not inflated). The decreased value of hrs (because they're all dupes) make items seem more expensive - but they still trade in pretty much the same relation with each other. Not sure if this is what you meant.
On our trading forum we have several long time members with standing offers to by pgems at 1 hr per 50 pgems. You can still find a better deal on open b.net some times, but you run into problems trying to trade with unknown people and any quantities of over 40 items. If I can buy 40 pgems with an Um, I'm pretty happy. People still make the "40pgems 4 pul" games, but you'll see those games fill up with 8 people faster than a "itelebaal" game.
I agee with some of the previous comments that we should keep this points based (based on pgems). Hr's are dropping in value to fast to be constant. (didn't blizz just stop all the gmerc duping too!?) I don't think there's much of a problem with the relative values in the guide. But yeah 1 hr doesn't equal 200 points anymore. Let me know if/how I can help.
So it's an overall dropping of value of a HR, and not an increase in the value of pgems? I don't know if this would be a factor, but a few months ago I started to play again (just before I signed up on the forums, actually). I was running into A LOT of people that had just started playing again as well. I literally ran into someone on b.net at least once a day that would say the same thing as me, “I don’t know why, but just kind of decided to start playing again”. Likely due to the fact it was summer, now that I think about it.
Now I seem to be seeing fewer and fewer people that "just started playing again"--again, probably because schools have started up again. I don't know what else would have brought the trend on, but during that time period my main way of getting items was through pgems because I had no other means of generating currency. Now, a few months later I have 2 chars that I mf with and another for ubers. I use my pgems myself for crafting and rolling instead of trading for HRs or items. If the same holds true for all of those other people I ran into, and there is no longer a steady stream of people starting to play, there will be a smaller supply of pgems.
Which leads me back to my question. Is it that there are too many HRs going around now, that other items are going up in value, or just a lowering of the overall supply of pgems?
There are too many HR's going around. I can "create" 10 pgems a day by cubing all the gems I find, not even including doing forges. If you have the patience to hunt out gem shrines you can get even more than that. However, mine will never see the economy because I craft and roll with all of them. I think their value stays low because they are so easy to come by, and the variations you see now are because the market is flooded with uniques and duped runes.
That's entirely the point I'm trying to make though. D2 is just like any modernized economy. It operates on supply and demand. Right now there's a huge supply of HRs. My personal guess would be that the people duping them went crazy over the summer, because the demand for HRs increased greatly due to increased play, and they didn't have the foresight to realize that the demand would go down. This pretty much lead to the current economy, which is even more saturated with HRs in comparison to players.
Now, pgems on the other hand flooded the economy when summer started, because a lot of people were starting to play again. The number of HRs and pgems were both increasing, but the number of people needing them was consistent, so the price was consistent. However, now people either no longer are trading pgems because they use them for their own purposes (like me), or they simply stopped playing/cut down their hours due to school.
This wouldn't reduce the overall demand for pgems, because the majority of people in need of the pgems would be the people that had been playing prior to summer hitting, and they'd need them year-round because they play year-round. In turn, we have an economy saturated with HRs and starting to lack in pgems, which leads to a shift in the ratio of Pgems to HR. Again, just throwing this out there with nothing really to back it up, but it makes sense to me.
I tend to agree with Smitty. I can't say I've looked at the dii economy for any length of time to see if this is a seasonal change (i.e. summer vs. school) or if this is more long term though.
Some of this could honestly be my perception as well. I started back up again in April (moved, got a new job, etc). For the first few months I was happy cubing every flawed gem I found, hoping to get 3-4 pgems together and buy something decent. I eventually moved past that and started selling my mediocre items for pgems, then getting groups of 40 pgems and selling them for puls. For the first few months of playing it seemed like making any decent runewords would be impossible. Recently I bid 13 hrs for a single item (yea, nothing godly I know) and it was no big thing. I suppose viewing the economy from a above average wealth standpoint gives you a different view. I suppose you also have a different viewpoint if you are a buyer or seller.
I believe that for the most part our economy has stayed somewhat stable for most items except HRs. There was a period right after the latest round of banning (when everyone thought a ladder reset was coming soon) where ladder only runewords became insanely expensive. But even that has mostly cooled.
I think 50 pts for a HR is a bit low of a valuation, even with so many floating around. There are some people on Ladder East I've seen buying 100 pt items for a HR, but I don't think it's the norm. As a fairly new player, I think I've been averaging maybe 100-150 pt values for HRs, buying and selling over the last few weeks.
It's pretty weird right now. Plenty of people on our forum have standing offers to buy pgems at 50 per hr. But on b.net you'll still see the occasional 40 pgems for pul games. But like I said these generally sell out in the first 5 seconds. If you make an "Um for 40 pgems" game on open bnet you'll generally get plenty of takers. It always been a little weird here. I used to sell my pgems in here at 80:1 ratios. I'd go out and sell my Hr for 2x Um and sell those for 4x Pul, then buy 160 more pgems and repeat. I figured I came out 120 pgems ahead each time I did this. Recently this has become impossible though. I can sell my pgems at a much better rate (50:1). But you can't sell a HR for 2x Um anymore. You can still get 3x Puls for a HR, but even that takes a long time. Even if you do get 3x Pul's you can't sell those for 40 pgems each any more. I can occasionally get a Um + Pul for my Hr, then I can sell the Um for 40 pgems. By then I generally have 10 more pgems from somwhere else and I can try to repeat the whole thing again (coming out a pul ahead each time).
If I had to place a point value on HRs, I'd say close to 100 when they are used as currency for buying items. Um is about 65 points. Pul is 35 Points.