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Why do people outbid with large numbers

outbid gold trade post tp

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#1 Vayum

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Posted 18 December 2012 - 08:01 PM

for example an exotic's highest buyer price is 13,15,10, instead of adding 1 bronze you see someone going for 14,0,0
that sometimes ruin my investments, and it annoys me alot, do you ever do that? if yes, why??

#2 JONO51

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Posted 18 December 2012 - 09:51 PM

To get the item faster. Why should others care about your profit margin?

#3 rotsono

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Posted 18 December 2012 - 09:52 PM

Cuz ppl want fast money someone sell for 14s next one for 13s 99c etc. when you go from 14s to 10s not much ppl go 9s 99c when they see the 14s or they think thats cheap i must buy it fast.

#4 Milennin

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Posted 18 December 2012 - 10:27 PM

Because some people might want a certain item but get tired of getting overcut by 1c every single second. So by offering a price a fair bit higher than the standard, the chance they get overcut lessens because flippers will prefer to wait for the ridiculous offer to disappear.

#5 Gilles VI

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Posted 18 December 2012 - 10:32 PM

I do it to drive up the price of some items I wanna sell :D

For example mithril ore, I bought ~10k ores at 25c each.
Price goes up to 40c/each, then I place orders for 45c/each for 2k ores.
from now it's speculation.
People will not want to wait for mine to go away, so they outbid me.
I can then cancel that order and sell my ores for a much higher price. :)

#6 Beta Sprite

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Posted 18 December 2012 - 10:33 PM

They do it because they can afford to and don't want to deal with any market fluctuation shenanigans.

Probably.

#7 Gilles VI

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Posted 18 December 2012 - 10:33 PM

Same thing also applies to Sell Offers btw. :)

#8 Bloodtau

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Posted 18 December 2012 - 10:34 PM

View PostGilles VI, on 18 December 2012 - 10:32 PM, said:

I do it to drive up the price of some items I wanna sell :D

For example mithril ore, I bought ~10k ores at 25c each.
Price goes up to 40c/each, then I place orders for 45c/each for 2k ores.
from now it's speculation.
People will not want to wait for mine to go away, so they outbid me.
I can then cancel that order and sell my ores for a much higher price. :)

Or people sell to you for that price and you lose money and get increased stock.

#9 Gilles VI

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Posted 18 December 2012 - 10:48 PM

View PostBloodtau, on 18 December 2012 - 10:34 PM, said:

Or people sell to you for that price and you lose money and get increased stock.

Euhm ofcourse people will sell to you for that price.. That's the point, you artificially create a new trading price, doesn't matter if you get some new (and more expensive cost-wise) goods in the process.
You artificially increased the trading price at which you can sell all your other goods.

That's also where calculating your stock price/risk price/possible profit comes in handy..
Ofcourse you don't need to do stuff like that blind, I have big spreadsheet documents for my most used goods to calculate how big my possible extra profit is and because I keep track of all my statistics since I began with trading a good, I can predict quite correct what the chances are of succeeding/how long it'll take/...
.
GW2Spidy only shows very small details about goods, if you want to make money you need to do some work yourself.

Edited by Gilles VI, 18 December 2012 - 10:49 PM.


#10 Sans

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Posted 18 December 2012 - 11:07 PM

So we dont have to deal with people like you.
Hate 1copper outbids.

#11 xtbx

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Posted 19 December 2012 - 02:43 PM

I don't get it either cuz this

View PostMilennin, on 18 December 2012 - 10:27 PM, said:

Because some people might want a certain item but get tired of getting overcut by 1c every single second. So by offering a price a fair bit higher than the standard, the chance they get overcut lessens because flippers will prefer to wait for the ridiculous offer to disappear.
doesn't work
if the item is profitable even after the large increase those ppl get 1c outbited again ... therefore gaining nothing except increasing the price

I get what Gilles IV is doing but that works only when doing busines with large amounts goods ... and still there are ppl who outbit buy orders of exotics by 10s or even more ...

#12 Coldman

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Posted 19 December 2012 - 03:28 PM

View Postxtbx, on 19 December 2012 - 02:43 PM, said:

I don't get it either cuz this

doesn't work
if the item is profitable even after the large increase those ppl get 1c outbited again ... therefore gaining nothing except increasing the price

Nope, cause if its significantly lower people will usually buy it and relist to make a small profit. Or people wait for it to get sold first, and then list theirs by undercutting with 1c. Or people just think it's cheap because the next listing as a big gap, so they buy it quickly before someone else grabs this 'bargain'.

In any case, the item gets sold much quicker, so less chance of being undercut. I do it too, because I hate being undercut and having to relist. Might as well list it for a bit lower and save myself the relisting fee. Also it usually gets sold instantly, regardless of what item I put up, as long as it's remarkably cheaper than the previous listed item.

Edited by Coldman, 19 December 2012 - 03:29 PM.


#13 Gilles VI

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Posted 19 December 2012 - 03:34 PM

View Postxtbx, on 19 December 2012 - 02:43 PM, said:

I get what Gilles IV is doing but that works only when doing busines with large amounts goods ... and still there are ppl who outbit buy orders of exotics by 10s or even more ...

I was talking about large sums of goods :)
Mostly 200g minimum.

#14 Eon Lilu

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Posted 19 December 2012 - 03:48 PM

What alot of market traders do is this.

Item lowest sell order is 15 silver. So they put one item up for 14 silver......now when the next whoever goes to sell the item in a good sized quantity, it will auto price them at 14 silver to sell now...

The market trader effectively lowered the cost of that item.

Now he will drop another few at 13 silver....and keep doing this until someone drops loads on there at 13 silver.

Then 12....11....10.

Now he buys up tons of that item at the lower price he forced and created. Then he wait for it to go back up, which it will because he was the one who artifically forced the price down, it was nothing to do with supply and demand.

Then he sells the whole lot at the higher price. Easy profit.

You will see alot of players forcing down prices on items and using this to make money or make an item cheaper so they can get what they need.

The reason this works is because 90% of players are lazy when selling there items, they don't check sell orders or buy orders, they just right click and sell at the lowest sell order whatever that is even if its only a few units at that price and the true price is actually much higher.

They just fell for market manipulation without even knowing about it. :P Ka Ching $$$

Used to do this with a much more complicated market system in Eve Online and made billions doing it.

It works with any type of market database even in real life and the reason why it works? 90% of people are too lazy to figure it out or do anything to avoid it or there completely ignorant to it and don't even know about it. Makes alot of rich folk richer, the stupidity of other people. :P

I don't do this myself in GW2 but I know others that do and you can see it effects the market alot.

Edited by Eon Lilu, 19 December 2012 - 03:53 PM.


#15 Humungous

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Posted 19 December 2012 - 10:28 PM

You can makes heaps of $$ without market manipulation, too. I'm up to at least 40g/hour without any manipulation whatsoever. There is always $$ to be made on others' lack of willingness to look at the market closely.

As my pile of cash increases, I may try speculating for amusement's sake. But for now, I like being a legit operation :)




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