In the real-money auction house, the minimum you can list an item for is $1.25 USD (or equivalent local currency). The minimum listing price for commodities is $0.25 (or equivalent local currency). The maximum you can set is $250 USD.
This would imply that 1000 gold will have a minimum worth of €/£ 0.25
How did you come to this conclusion? Isn't it just that any amount of gold can't be sold for less than €/£ 0.25?
Let's say you wanna buy a million gold, which isn't that much. If 0.25 = 1000, you would have to multiply 0.25 by 1000 and then you get 250 €/£. I can not see how 1 000 000 gold would cost 250 €/£...
RMA prices will always be reflected by the current $:G ratio, that being said, as it has just launched and the majority of people dont even know what the current rate is, there are going to be ALOT of over priced items. This causes the better items to not be put up (due to the $250 cap) because those of lesser quality are already being sold at the $ cap so people will continue to sell those better items on the gold AH instead. That being said, there are always stupid ppl and this causes arbitrage opportunities for those of us lucky enough to find them.
The prices will fluctuate like crazy so my advice is to not even try to buy unless your knowledge of the market is very good, over time the prices will eventually settle and you should see better items getting put up on the RMA. Interesting to note the ratio change over the past 24 hours, yesterday when i check around the $/G ratio was $8-13:1mill, and now today its $2.5-7:1mill (the higher end prices being those websites that act as middleman for security and the lower being the more risky/bulk buying).
I think blizzard went overboard with their transaction fees, 15% + 1$ per item and 15% + 15% again for commodities is very high when middleman websites are charging 5-10% or fixed rates, and then those people who cant use their home currency on the RMA get screwed again through paypals exchange rates. I think they could make alot more money if they are able to draw away those who use 3rd party websites but to do this they really need the transaction fees to be 10% max.
In the real-money auction house, the minimum you can list an item for is $1.25 USD (or equivalent local currency). The minimum listing price for commodities is $0.25 (or equivalent local currency). The maximum you can set is $250 USD.
This would imply that 1000 gold will have a minimum worth of €/£ 0.25
How did you come to this conclusion? Isn't it just that any amount of gold can't be sold for less than €/£ 0.25?
Let's say you wanna buy a million gold, which isn't that much. If 0.25 = 1000, you would have to multiply 0.25 by 1000 and then you get 250 €/£. I can not see how 1 000 000 gold would cost 250 €/£...
I have no idea where you guys are getting your math from.
First off, you can only buy and sell gold on the RMAH in stacks of 100k, so 100k should be the unit you are using for measurement.
Also the fee for commodities is $0.25 but the minimum is $1.25, meaning the minimum return is $1.00. Thus the cheapest we will see for gold will be $1.25/100k. or 82k/$1.
Watching the spam channel (general chat) for just a couple mins I'm seeing around $10.00-$12.00 per 1million gold (or 90k/$1.00). I don't expect that when the gold for the RMAH comes up that we will see much difference in that price. Then again I didn't expect to see magical items up for $250.00
I have no idea where you guys are getting your math from.
First off, you can only buy and sell gold on the RMAH in stacks of 100k, so 100k should be the unit you are using for measurement.
Also the fee for commodities is $0.25 but the minimum is $1.25, meaning the minimum return is $1.00. Thus the cheapest we will see for gold will be $1.25/100k. or 82k/$1.
Watching the spam channel (general chat) for just a couple mins I'm seeing around $10.00-$12.00 per 1million gold (or 90k/$1.00). I don't expect that when the gold for the RMAH comes up that we will see much difference in that price. Then again I didn't expect to see magical items up for $250.00
Actually, I think the bare minimum is $0.25/100k. If there's a forced "minimum price must be $1.00" as you suggest above, that would mean that you couldn't sell 100k at $0.25 -- you'd have to sell 400k at $1.00 instead. So the cheapest price would be 400k/$1, or $2.50 per million.
Couldn't you potentially sell a 10 million chunk for $5 (or .50/mil) or doesn't it work that way? That way you only pay the commodity fee once and potentially you would sell 1 million portions to 10 people? I just can't see that being the base... ($2.50/mil that is)
I've seen gold down to $5.50/mil on the forums already.
If you've used the auction house to sell gems I guess its something like that. Say you put up 500k for 2 dollars per 100k but someone else puts up 200k for 1.50$ it will show the last 10 sales and then the current lowest on the page so his will sell before yours. That's how I imagine it at least.
I don't think it will sell in one large chunk, it's not gonna be listed that way I wouldn't think. It will sell in chunks of 100k
That's what I figured - so really, gold can still fall pretty low if sold in bigger chunks. It will be interesting to see what the value starts at. I think there will be a lot of undercutting.
I can understand people who pay $250 for something in game, hell even more than that amount.
BUT DIABLO 3? I mean come on, who is retarded enough to pay anything over $10 for an item in such a shitty game with no future.
I can understand people who pay $250 for something in game, hell even more than that amount.
BUT DIABLO 3? I mean come on, who is retarded enough to pay anything over $10 for an item in such a shitty game with no future.
Ha I am an avid Diablo 3 hater pretty much, but damn you are one angry person. I at least don't shit on the players who enjoy the game, I just shit on the shitty devs who made the game.
My plan is don't bother playing till PvP gets released, maybe even sell my character before then for cash. Once PvP gets released the RMAH will be calmer and more intelligently priced. Find out whats what in PvP and buy from there. Odds are I won't use RMAH though because odds are prices will be higher because of the fees. So black market I go!
Well, I was bored and put up a 700dps 1h that I couldn't sell for 200k on the RMAH and it sold for $3.50. I'm not sure if it is just the novelty or what, but I couldn't imagine someone paying for such a common item.
I'm astounded how many people are shocked that items are selling for up to $250 a pop on the RMAH.
Real money is just another form of currency that measures the amount of enjoyment brought about by either a good or a service. Alternatively, it is used as an investment tool to make potentially more money.
The RMAH is no different. People who purchase items on there clearly either is happy enough to pay the asking price in exchange for the joy of receiving a good item (whether this is because they are financially well-off, or just loves Diablo is irrelevant). Another possibility is that they purchase an item for real money to give them an edge in making more money by farming more efficient.
Time spent on the game is an opportunity cost, that on average comes at around $30-$50 an hour (yes, you are sacrificing real money by simply spending time on this game as you could be working overtime or doing a second job to make real money). So essentially spending some money to save the time on 'farming' is not abnormal at all. Of course, if you are at a stage where you are no longer enjoying the game then it is irrational to be spending any money on this game.
How did you come to this conclusion? Isn't it just that any amount of gold can't be sold for less than €/£ 0.25?
Let's say you wanna buy a million gold, which isn't that much. If 0.25 = 1000, you would have to multiply 0.25 by 1000 and then you get 250 €/£. I can not see how 1 000 000 gold would cost 250 €/£...
The prices will fluctuate like crazy so my advice is to not even try to buy unless your knowledge of the market is very good, over time the prices will eventually settle and you should see better items getting put up on the RMA. Interesting to note the ratio change over the past 24 hours, yesterday when i check around the $/G ratio was $8-13:1mill, and now today its $2.5-7:1mill (the higher end prices being those websites that act as middleman for security and the lower being the more risky/bulk buying).
I think blizzard went overboard with their transaction fees, 15% + 1$ per item and 15% + 15% again for commodities is very high when middleman websites are charging 5-10% or fixed rates, and then those people who cant use their home currency on the RMA get screwed again through paypals exchange rates. I think they could make alot more money if they are able to draw away those who use 3rd party websites but to do this they really need the transaction fees to be 10% max.
I have no idea where you guys are getting your math from.
First off, you can only buy and sell gold on the RMAH in stacks of 100k, so 100k should be the unit you are using for measurement.
Also the fee for commodities is $0.25 but the minimum is $1.25, meaning the minimum return is $1.00. Thus the cheapest we will see for gold will be $1.25/100k. or 82k/$1.
Watching the spam channel (general chat) for just a couple mins I'm seeing around $10.00-$12.00 per 1million gold (or 90k/$1.00). I don't expect that when the gold for the RMAH comes up that we will see much difference in that price. Then again I didn't expect to see magical items up for $250.00
Actually, I think the bare minimum is $0.25/100k. If there's a forced "minimum price must be $1.00" as you suggest above, that would mean that you couldn't sell 100k at $0.25 -- you'd have to sell 400k at $1.00 instead. So the cheapest price would be 400k/$1, or $2.50 per million.
I've seen gold down to $5.50/mil on the forums already.
I don't think it will sell in one large chunk, it's not gonna be listed that way I wouldn't think. It will sell in chunks of 100k
BUT DIABLO 3? I mean come on, who is retarded enough to pay anything over $10 for an item in such a shitty game with no future.
My plan is don't bother playing till PvP gets released, maybe even sell my character before then for cash. Once PvP gets released the RMAH will be calmer and more intelligently priced. Find out whats what in PvP and buy from there. Odds are I won't use RMAH though because odds are prices will be higher because of the fees. So black market I go!
Real money is just another form of currency that measures the amount of enjoyment brought about by either a good or a service. Alternatively, it is used as an investment tool to make potentially more money.
The RMAH is no different. People who purchase items on there clearly either is happy enough to pay the asking price in exchange for the joy of receiving a good item (whether this is because they are financially well-off, or just loves Diablo is irrelevant). Another possibility is that they purchase an item for real money to give them an edge in making more money by farming more efficient.
Time spent on the game is an opportunity cost, that on average comes at around $30-$50 an hour (yes, you are sacrificing real money by simply spending time on this game as you could be working overtime or doing a second job to make real money). So essentially spending some money to save the time on 'farming' is not abnormal at all. Of course, if you are at a stage where you are no longer enjoying the game then it is irrational to be spending any money on this game.