Akukami's Crash Course in Item Evaluation

[Akukami]

Hi, Everyone, and thanks for stopping by.

You can all thank acwclassic for this thread. If not for him, I wouldn't be writing this.

Over the course of about four months, several people have PMed me about the system I use to price items. To those inquistive souls, here is quick answer.

Evaluation Tool: Supply and Demand

The system I use is simple: supply and demand. However, the application of this is quite complicated and takes some practice to really understand.

Being a businessperson, I have pretty good sense of what people want, what is actually out there in the market, and how much people are willing to pay for certain items. But it doesn't end just here.

Psychological Evaluation

There's also a psychological aspect involved. Obviously, people have different opinions on what certain items should be priced at, and understanding why this happens involves several things:

1. Actual Value - This is based on how useful the the item is. Using your Armor example, a 24 FHR 25 CR/FR Mage Plate is more valueable than a 24 FHR 25 CR/FR No Life Mage Plate. Why? Obviously because of the Life; it is VERY useful on just about any item you can put it on.

2. Perceived Value - Taking your Armor example once more, a 24 FHR 25 CR/FR 40 Life Mage Plate can be more valuable than a 24 FHR 25 CR/FR 40 Life Light Plate. Why? Because the Defense on the Mage Plate is obviously higher. HOWEVER! If you're building a Pure Vita Blizzer, then the Light Plate becomes more valuable. Why? The Strength Requirement on the Light Plate is lesser than the Mage Plate. In essence, it really depends on how badly the other person needs the item, and because of this, more value is given towards certain items than others.

3. Trend Value - This is based on how certain items look on characters. I'm pretty sure that you've noticed a LOT of people like the Bone/Grim Helm look and are willing to overpay for one over a Full Helm with the same exact mods. The same is true for Bone Shields, Studded Leather Armors, and any other popular item you can think of.

What it All Means

If you combine psychological factors with the current supply and demand, you get a market. But honestly, what is a market? In basic terms, it is simply the differences in opinions between traders. Without it, a market wouldn't exist.

In short, that point of agreement translates into the prices I hand out for the items people put here. I place myself in each trader's shoes, think about how each would price the item, then figure out a price range that both can agree on. If you can grasp the concepts I've listed, you can place a price on any item and be more successful at trading.

There is obviously more than to Item Evaluation than I've listed, but some of those things are ones that no one can really explain without practice. So, using the famous slogan of Nike, "Just do it."

- Akukami