07 Gold - $9-$11 on PA?

[symphony888]

Very weird. I've been browsing through PlayerAuctions and also some threads on Sythe.

Most of the Chinese sellers are selling their 07 Gold at a VERY low price like $10.00/M or even $16.00/2M

I'm getting disturbed by this and I'm thinking of bad situations that might happen. Is it stolen gold that they are selling? Or just luck that they could buy off someone at a VERY low price.

Lets do some calculation. Usual price people sell at is around $8-$10.
We take $10.00 as an example.

PlayerAuctions Fees: 9.99% + $0.99
PayPal Fees: 2%

9.99% / 100 x $10 = $0.999 + $0.99 = $1.989
$10.00 - $1.989 = $8.011
2% / 100 x $8.011 = $0.16022
$8.011 - $0.16022 = $7.85

They will get $7.85 as their amount back after someone purchase it off PlayerAuctions. This is in regards if they buy at $10.00 per mil.

Opinions?

 

[Trillions]

Very weird. I've been browsing through PlayerAuctions and also some threads on Sythe.

Most of the Chinese sellers are selling their 07 Gold at a VERY low price like $10.00/M or even $16.00/2M

I'm getting disturbed by this and I'm thinking of bad situations that might happen. Is it stolen gold that they are selling? Or just luck that they could buy off someone at a VERY low price.

Lets do some calculation. Usual price people sell at is around $8-$10.
We take $10.00 as an example.

PlayerAuctions Fees: 9.99% + $0.99
PayPal Fees: 2%

9.99% / 100 x $10 = $0.999 + $0.99 = $1.989
$10.00 - $1.989 = $8.011
2% / 100 x $8.011 = $0.16022
$8.011 - $0.16022 = $7.85

They will get $7.85 as their amount back after someone purchase it off PlayerAuctions. This is in regards if they buy at $10.00 per mil.

Opinions?

Chinese gold farmers would get people to work at green dragons at a rate of 250K per hour. Consider that this is equivalent to 5K old school gold per hour.

They are selling for a low price because they can earn so much compared to the old methods. Picking flax can generate 50K per hour.

/caseclosed

 

[Elena]

My guess is gold farmers but I could be wrong.

 

[Feelgewd]

I agree with him. People get .50$ profit. I've spoken with somebody about this. I don't know why they'r doing this. But seriously what's kind of profit. In my opinion, somethings going wrong here. Some say because it's to hard to sell so they just dump the prices on PA, that makes no sence at all. Yesterday it was 9$ buy price to. Today people are selling at 8-11$ while they buy at 7.50$.

 

[NikeShoes]

07 gp is extremely overpriced for how easy it is to get. It's not unreasonable that they're selling bulk for "cheap." I'm sure people sell to them in bulk for less than they're currently selling for. Or they're just botting everything and making profit.

EDIT: Also, people trading their eoc banks for 07 and then selling 07 for irl as well.

 

[symphony888]

Chinese gold farmers would get people to work at green dragons at a rate of 250K per hour. Consider that this is equivalent to 5K old school gold per hour.

They are selling for a low price because they can earn so much compared to the old methods. Picking flax can generate 50K per hour.

/caseclosed

07 gp is extremely overpriced for how easy it is to get. It's not unreasonable that they're selling bulk for "cheap." I'm sure people sell to them in bulk for less than they're currently selling for. Or they're just botting everything and making profit.

EDIT: Also, people trading their eoc banks for 07 and then selling 07 for irl as well.

Seems legit enough. But I'm interested to see more views on this issue though.

 

07 Gold is a terribly poor investment. Everyone knows it's going to get down to EOC prices even the Chinese. Plus Jagex is definitely cracking down hard. They're probably trying to clear stock on the hour and don't care about price because it's 10x their usual profit margins.

 

[Pimp]

Fagexs is super banning every bottwr .. I got 2 of my bots banned this week.. Time to train fishing again

 

[lomboro]

I'm guessing they generate a lot of gold with private bots and they have some competition on PA so the price is going down obv.

 

[S]

Alching literally flooded the market with gold. There are no gold sinks atm, and more and more gold is entering the market, and barely any leaving. That's why rares and or some sort of money sink (Jagex gambling NPC) is needed.