Well I have, like everyone else an idea on how to curb inflation. This is my first post here. I'll be posting on the official forums too but posts there tend to be buried immediately by QQ threads and I'm hoping to get some actual conversation going.
I'm sure I'm not the only one to have had this idea, but I haven't seen it specifically stated and I'll be itemizing rational.
So inflation. It's a problem right? I have a suspect that there's a majority of people that spend close to 80% of their time in the Auction House, sniping that sweet deal to flip for cash or gold. There's also a tremendous amount of AH botting that takes place. I think this is worse than people botting for gold or paragon levels ingame because the only reason to make gold is to buy upgrades. Due to the people flipping and inflating prices on the Auction House, the value of gold is sky high. Not the monetary value, that's dropping. But what can be bought with the gold is decreasing every day, and this is due to the AH flipping.
Case in point: I went to search for some Vile Wards with %Life, Vitality and > 200 dex today. Of the 14, only 3 allowed bids (min bid and buyout were not the same). Two of those three had minimum bids of 100m. The buy only sets ranged from 110m to 1.5b, with the set at 110m having only 4hrs left. In other words, they weren't going to sell. The only viable pair to actually bid on had a 19m bid with 7hrs left.
Now, I'm pretty sure that the pair with bids at 19m would end up selling for 50-80m range. I'd like to assume that's going to be by someone who will use them, but the sad reality is that they will probably go right back up on the AH for 150m from whoever bought them (I have another idea which would disallow someone from reselling something on the AH for (24-48hrs), but it's not the point I'm trying to make here). My point is that the market is only willing to pay 50-80m for them, and the majority of items with these stats will just sit in the hands of AH tycoons who are trying to get way more than fair market value out of them .
TL;DR (read only below)
The solution is simple. Do not allow "buy only" auctions. Do this by setting a cap on minimum bid. Make minimum bid cap of 10x or even 100x of vendor value. Here's the bullets.
- It enables fair market value of items being sold.
- A floor of 40-400k would allow anyone to bid, and greatly prevent flipping items on the auction house.
- You can set buy out to whatever you want. That way you can still get "quick cash" if you needed it.
- No cap on minimum bid means Auction House is the game, not slaying demons. How can one compete with someone who spends all their time putting in game items out of reach for all but the super rich? Or worse, a bot that does it.
- Gold botting is devauled, gold itself is devauled. What good is having billions of gold if great items are within reach?
- Godly items are unaffected. This is super important. An end game item will still be noticed and sell for the value the market sets for it. This is included in the definition of fair.
- Some suggest that nobody will sell on the AH anymore then. The majority of people will still sell on AH because fair market value is fair. You can still sell your godly items via trade forums to avoid fees, but the liquidity of the AH will never be beat by trade forums.
- In typing this post I realized I haven't considered the impact or how to address commodity which do not allow of any bids at all. I fear they could become the new thing to flip, although the fact they fall regularly and can have no real sink might mitigate potential explosion of value from market makers.
- I'm looking for good additional points, or perhaps counter points to add. I will update post as suggested.
In closing. AH flipping impacts the game far more than gold botting. Gold botting only affects the game because it enables AH flipping. We need to devalue gold.
The AH is NOT an auction house! It's a market with not enough open interest or liquidity to sustain itself. I'll post this on the official forums but I fear I've typed all this up only for it to get buried. I know everyone has ideas, but I'm really interested in discussing this with people who care about the game.
THanks for reading.