RMAH gold price discussion

[viledevil]

Hola - so i've been thinking a lot about the coming exchange rate (excluding the blackmarket) lately and i've come to think that perhaps the exchange rate is much higher than people expect. right now the 2 markets are untied and we're left to guestimate the price of gold (is it 4$ like the spam bots say, or 6$, or ?) without knowing the true exchange rate the valuation of items on either ah is tricky business so i for one am super eager to get a real price.

so:

many of the items i am tracking are falling into lockstep between the rmah/gah at (excluding any math for fees) 1m gold = 10$.

go and have a look at items on both ahs and see if you also notice that 500k = 5$ or 5m = 50$, approx.

anyways, i thought perhaps we should have a chat about it so lets hear your thoughts!

[KTang]

Well I think that when commodities finally do open up the exchange rate will definitely go down. Spambots will give you that price but then you have to taken into consideration the vast millions and billions people have got saved up hoping to make some cash from the RMAH. I think the market will be flooded with gold and we'll definitely see a fall in the price of gold in terms of $ or £ or whatever.

I definitely think the EU market is quite different from the US market however, people in the EU seem to be quite reluctant to buy. Atleast in the UK that is.

KT

[SWalker]

Minimum seems to be set to 0.25€ / 100k in EU which isn't all that great considering you can get a bit more (via less straightforward means obviously). I really doubt it will ever go above the minimum price unless the new patch swallows a ton of gold for repairs. We'll see I guess.

[viledevil]

ya opinion on what it SHOULD be is different than item a trades for the ratio x:y.

i'm offering my observation, not opinion...

[Such Violent Storms]

When you buy a commodity like gems with gold, the RMAH will refund you a small amount if it sees a lower price value right before it makes the transaction. Does this occur when buying gold with real money?

I think the market for gold will be chaotic for a little while before it all evens out, like baking brownies with a few lumps in it.

[z00t]

Do you guys think that the gold price of 'good' but not 'godlike' items will drop next patch?

I'm looking at some Barb armour right now with Strength, Vitality, and Resist All....but that's it. No Goldfind, no Sockets. Those are already worth a few million, even if they aren't the best possible thing.

Do you think the price of such items will drop next patch when farming them will presumably be easier?

Sorry I know its not quite related but it didnt seem worth creating a new thread or :P.

[Ayewyn]

I am wondering what the demand will be. Most of my friend are poor when it comes to gold. I know there is a very large pool of gold ready to be dumped on the market, but that's weeks of backlog. If demand is high enough, it will eat through the surplus everyone has and then we will be down to demand vs rate of production, as opposed to demand vs stockpile like we will have at first. It comes down to how much the casual player wants to buy gold, and with repair costs going up, gold might be an issue for a lot of players.

[viledevil]

z00t - the point of the thread is that when a gold:$ ratio is real (ie. it trades and we know the range it trades in) value is meaningful; without knowing that price we cant properly value things across currencies as they dont trade in a legitimate market. with regards to specific values its even more complex until we know the exchange rate!

ayewyn - demand will be huge, as will supply. our individual needs/assets are pretty much meaningless when looking at the actual supply/demand of gold.

svs - the system is the same in all markets i presume. no reason it would differ.

[PearlOrion]

Hola - so i've been thinking a lot about the coming exchange rate (excluding the blackmarket) lately and i've come to think that perhaps the exchange rate is much higher than people expect. right now the 2 markets are untied and we're left to guestimate the price of gold (is it 4$ like the spam bots say, or 6$, or ?) without knowing the true exchange rate the valuation of items on either ah is tricky business so i for one am super eager to get a real price.

so:

many of the items i am tracking are falling into lockstep between the rmah/gah at (excluding any math for fees) 1m gold = 10$.

go and have a look at items on both ahs and see if you also notice that 500k = 5$ or 5m = 50$, approx.

anyways, i thought perhaps we should have a chat about it so lets hear your thoughts!

10m = $1 or 1m = $0.10
All good items are already moved to the RMAH.

Unless Blizzard
- Disables Item RMAH
- Increases the repair costs by 10x or 100x times
- Make crafted items > dropped items
- Reduce crafting costs further

Gold is useless.

[stillman]

Some of those are in the works. Blizzard said they want gold to stay valuable, and we all know how they squirm to avoid embarrassment.

The worthless crafting problem is just another blunder like making legendaries crappy. I'm betting they will fix things to keep gold alive. Otherwise, they will have a huge embarrassment on their hands. Plus, there are millions of noobs who don't care about the "good items".