STOP undercutting.

Seriously. There's just not that many buyers. Stop undercutting the latest low seller, the price of gp has gone from $3.3/m to $2.8m/ in 2 days as the summer holiday period has started. This is the reverse of how it's meant to go, more kids are meant to buy gold. It's really annoying how I am now losing over $20 profit a day because someone else is so impatient they can't even wait for someone to add them, and then they don't even get added because there's just not that many buyers.



Don't keep lowering your prices because..

 

Tbh why should someone care if your loosing 20 bucks?

they have the right to sell the gold at w/e price they want.

if you cant keep up with the competition then quit selling gold

 

i'm not the only one, i'm voicing the collective opinions of basically every reputable seller on the market, i'm not just being a little bitch.

 

well, if they cant lower the prices then they wont get sales

simple.

 

"Basically every reputable seller on the market" should speak up, then, if they want to whine and make themselves look bad.

Independent, freelance sellers of goods and services, tangible or intangible, have to lower their prices to attract business that would otherwise go to larger, more established firms. That's how small business works - you don't attract customers by charging the same as somewhere big that they already know they can trust.

I sell LoL boosting 25%-50% cheaper than those who have websites and hundreds of vouches. I'm just as legit, so why do I do it? For the exact reason above ^

 

^ this guy put it perfectly

 

Grow or die.

 

Wait what? The price of GP was $3.3/m 2 days ago? I was selling for alot cheaper than that.....must have missed the memo.

 

That's how the market works. An item is only worth what someone is willing to pay for it. You can't expect you and every other seller to make a monoply so prices stick.

 

It's called supply and demand... Prices don't just do that because someone is undercutting. If the demand was there for everyone to sell at 3.3, then people wouldn't sell at 2.8

 

Whilst I agree with your point it is the large gold firms who are lowering the prices incessantly & for no good reason other than greed, not enterprise. They simply want to ship their stock before their account gets banned and that is a fact.

EDIT: Those who call this smart economics? You're wrong. "Smart Economics" Would be buying a small amount of gold and selling it for a higher price and getting a better profit per unit. Not buy bulk & risk big for worse long term gains. Stay smart people. Don't buy what you know you won't be able to sell and don't have eyes bigger than your belly ^_^.

Rs07 gold is not a good that's price deteriorates or improves in Individual demand due to falling or increasing PPU (which is what individual demand would normally constitute), because people buy it when they NEED it, for the average price that is on the market. This has been seen as due to the imminent release of RuneScape 3, old school players have been turning their attention towards the EoC gold market and stocking up for a week or two of playing that instead, therefore eliminating their need for 07 gold, hence what I was saying in the OP. There is not enough demand, but this is not a reason to lower prices until you reach rock bottom. I hope you can see what i'm saying and not use "basic economic" terminology with me, I do know what you're talking about, but it does not apply in this instance.

 

Agree, Agree, Agree, Agree. ^

 

I thought large gold sellers don't even hold onto the GP anymore? Instead they act as a intermediary between a buyer and a seller. If that's the case there isn't a mad rush to sell inventory that doesn't exist.

Also I really don't think this thread is going to accomplish anything. It's impossible to convince all the gold sellers to fix their prices. Someone will always undercut other sellers to quickly sell their gold.

 

I'm a small margin high volume seller and I make a decent amount. Sometimes keeping a small stock makes it so that you won't be able to take advantage of the opportunities that arise everyday.

Also - I'd be willing to sell 100M 07 at .1-.2/m profit if I had a deal lined up....why not make guaranteed profit?

 

Provide better service or sell at a lower price.

Also, price fixing won't work in a market like this.

 

I wouldnt suggest attempting to fix prices, I just wish everyone wasn't so selfish but then again we are all in the same boat, to make money.

and @lalapo, the risk of chargebacks for selling a large amount and people would come to expect lower prices if you sold for that, thus lowering the overall value?

 

You're trying to screw consumers by fixing prices with the competition.

You're not entitled to free money from people. You have to do something that earns it.

 

hence why i'm in the process of building a from scratch coded html website with opencart and integrated payment processing?

I never said anything about price fixing, that was assumed.

 

You're complaining that your competition is selling too cheaply and trying to get people to hold prices higher. That's basically the definition of price fixing.

 

no, the definition of price fixing is every firm in an industry conforming to sell their items are a high, fixed rate, essentially creating a monopoly.

This is nothing like that, I just know that it is in all gold sellers best interest to not undercut eachother.