Was just wondering if anyone as actually thought of a formula for pricing items in the RMAH to be profitable but at the same time fair? So if it takes me 100 hours to find and/or craft an item I would have to figure out a way to convert that 100 hours into something of an hourly wage and not only that the fees that are applied to it. I don't want to spend a ton of time to farming and item and just throw it up there and essentially get ripped off. Just wanted to know if anyone though of anything.
I don't see how you need a formula for this. If you absolutely get no enjoyment out of the game and treat farming as a job, just use common sense: after Blizzard's cut you want to make, in ~40 hours of farming, what you could be making in a ~40 hour work week. If you're an absolutely unskilled, minimum wage earner, use that number. If you're totally capable of a $15 an hour job, use that.
This does not require any sort of advanced formula, and is based entirely on how you value your own time. Most people are going to see any money they make off the RMAH as a bonus, as they made it while playing a game that they were probably going to be playing anyway. But even if you intend on trying to make a living off of this, it's totally subjective as to what you consider getting "ripped off"...and it doesn't take anything more than 4th grade math to figure this out.
Was just wondering if anyone as actually thought of a formula for pricing items in the RMAH to be profitable but at the same time fair? So if it takes me 100 hours to find and/or craft an item I would have to figure out a way to convert that 100 hours into something of an hourly wage and not only that the fees that are applied to it. I don't want to spend a ton of time to farming and item and just throw it up there and essentially get ripped off. Just wanted to know if anyone though of anything.
The chances you find something that isn't already up is probably quite small given the absolutely enormous size of the Diablo Auction House. There isn't going to be a formula for pricing, you can only sell it for what the playerbase will buy it for. Which again, given the size of the auction house and the # of similar items up for sale will be slightly lower than the previous guy.
Rollback Post to RevisionRollBack
"Is God willing to prevent evil, but not able? Then he is not omnipotent. Is he able, but not willing? Then he is malevolent. Is he both able and willing? Then whence cometh evil? Is he neither able nor willing? Then why call him God?"
There is no "Formula". It only depends on demand and supply. If the item you got is on average sold at 5$ you can sell it maybe 6$ at most and going down if there is a heavy concurence on the item.
If you get a rare ultra mega rare, maybe 50$-100$.
It's all luck, supply, demand and statistics. There is no way you can get a formula f("Number of hours") to get the price. If anything you can compare the amount of hours * 15$ to the price of the item and conclude there is no way you can make a living out of it.
I don't see how you need a formula for this. If you absolutely get no enjoyment out of the game and treat farming as a job, just use common sense: after Blizzard's cut you want to make, in ~40 hours of farming, what you could be making in a ~40 hour work week. If you're an absolutely unskilled, minimum wage earner, use that number. If you're totally capable of a $15 an hour job, use that.
This does not require any sort of advanced formula, and is based entirely on how you value your own time. Most people are going to see any money they make off the RMAH as a bonus, as they made it while playing a game that they were probably going to be playing anyway. But even if you intend on trying to make a living off of this, it's totally subjective as to what you consider getting "ripped off"...and it doesn't take anything more than 4th grade math to figure this out.
lol...I'm not talking about "making a living" but if I'm going to sell the item I at least want my moneys worth. Lets take your logic behind it into consideration. If I spend 100 hours farming a legendary item do you think it would be fair to sell it for $5.00? or maybe selling it for $600? Both of these number seem very unreasonable because either I'm not gonna get my moneys worth for the time I have invested or no one will buy it. If I'm going to be putting items up on the RMAH I want it to sell and I want to sell it for a fair price. Even if I'm going to play the game and enjoy it regardless. That is no reason for me to not take some sort of consideration into a price. If you want to make nickels and dime off of the items you put up that's your prerogative. Just keep this quote in mind.
I don't see how you need a formula for this. If you absolutely get no enjoyment out of the game and treat farming as a job, just use common sense: after Blizzard's cut you want to make, in ~40 hours of farming, what you could be making in a ~40 hour work week. If you're an absolutely unskilled, minimum wage earner, use that number. If you're totally capable of a $15 an hour job, use that.
This does not require any sort of advanced formula, and is based entirely on how you value your own time. Most people are going to see any money they make off the RMAH as a bonus, as they made it while playing a game that they were probably going to be playing anyway. But even if you intend on trying to make a living off of this, it's totally subjective as to what you consider getting "ripped off"...and it doesn't take anything more than 4th grade math to figure this out.
LOL min wage for an adult in Aus is >$15 per hour,
Australia's minimum wage is $15.51 per hour or $589.30 per week
I don't see how you need a formula for this. If you absolutely get no enjoyment out of the game and treat farming as a job, just use common sense: after Blizzard's cut you want to make, in ~40 hours of farming, what you could be making in a ~40 hour work week. If you're an absolutely unskilled, minimum wage earner, use that number. If you're totally capable of a $15 an hour job, use that.
This does not require any sort of advanced formula, and is based entirely on how you value your own time. Most people are going to see any money they make off the RMAH as a bonus, as they made it while playing a game that they were probably going to be playing anyway. But even if you intend on trying to make a living off of this, it's totally subjective as to what you consider getting "ripped off"...and it doesn't take anything more than 4th grade math to figure this out.
LOL min wage for an adult in Aus is >$15 per hour,
Australia's minimum wage is $15.51 per hour or $589.30 per week
Yah the US blows...we have a strict, F U policy to anyone who is poor.
Rollback Post to RevisionRollBack
"Is God willing to prevent evil, but not able? Then he is not omnipotent. Is he able, but not willing? Then he is malevolent. Is he both able and willing? Then whence cometh evil? Is he neither able nor willing? Then why call him God?"
I don't see how you need a formula for this. If you absolutely get no enjoyment out of the game and treat farming as a job, just use common sense: after Blizzard's cut you want to make, in ~40 hours of farming, what you could be making in a ~40 hour work week. If you're an absolutely unskilled, minimum wage earner, use that number. If you're totally capable of a $15 an hour job, use that.
This does not require any sort of advanced formula, and is based entirely on how you value your own time. Most people are going to see any money they make off the RMAH as a bonus, as they made it while playing a game that they were probably going to be playing anyway. But even if you intend on trying to make a living off of this, it's totally subjective as to what you consider getting "ripped off"...and it doesn't take anything more than 4th grade math to figure this out.
LOL min wage for an adult in Aus is >$15 per hour,
Australia's minimum wage is $15.51 per hour or $589.30 per week
Yah the US blows...we have a strict, F U policy to anyone who is poor.
thats really sad for the battlers, I made sure to tip those guys well when I went to the US
Here in Britain we have guys who go around the countryside with metal detectors. Most of the time they find nothing, or maybe an old kettle from the 40s that got buried during the Blitz. Once in a while they find a horde of Roman coins.
So in one week he could find a rusty old kettle. Worth £200 do you think? No one would pay that, it's junk.
Next week he finds a horde of antique Roman gold coins. He sells them for £200 thinking that reasonable for a week's work. Someone would just buy the bargain and sell it to the museums for millions.
Your Diablo 3 strategy is really the same kind of thing. When you find a legendary it could be junk it could be the best item the world has ever seen. You won't get $50 every time. No one buying it would even know how long it took to farm.
I don't see how you need a formula for this. If you absolutely get no enjoyment out of the game and treat farming as a job, just use common sense: after Blizzard's cut you want to make, in ~40 hours of farming, what you could be making in a ~40 hour work week. If you're an absolutely unskilled, minimum wage earner, use that number. If you're totally capable of a $15 an hour job, use that.
This does not require any sort of advanced formula, and is based entirely on how you value your own time. Most people are going to see any money they make off the RMAH as a bonus, as they made it while playing a game that they were probably going to be playing anyway. But even if you intend on trying to make a living off of this, it's totally subjective as to what you consider getting "ripped off"...and it doesn't take anything more than 4th grade math to figure this out.
lol...I'm not talking about "making a living" but if I'm going to sell the item I at least want my moneys worth. Lets take your logic behind it into consideration. If I spend 100 hours farming a legendary item do you think it would be fair to sell it for $5.00? or maybe selling it for $600? Both of these number seem very unreasonable because either I'm not gonna get my moneys worth for the time I have invested or no one will buy it. If I'm going to be putting items up on the RMAH I want it to sell and I want to sell it for a fair price. Even if I'm going to play the game and enjoy it regardless. That is no reason for me to not take some sort of consideration into a price. If you want to make nickels and dime off of the items you put up that's your prerogative. Just keep this quote in mind.
***Time is money***
But you're asking for some formula for this, and there is no possible way in hell to come up with one. Time is money, yes, but value is in the eyes of the beholder. One "formula" will not apply to everyone, and there is no way to come up with any sort of rational formula for this anyway.
The market will determine the price. You will have to take every single item on a case by case basis as to whether you think it's worth investing the time for that given price. Plus, with how item drops work in D3, it's not likely that you'll be able to specifically farm for "Barbarian Ultra Rare ABC". Instead, you'll be going through Inferno, killing things that have a decent chance of dropping Rares, period. Eventually, you might find "Wizard Ultra Rare XYZ". And that might have a very different RMAH value from the Barbarian Rare.
I suppose a formula, eventually, could be come up with to determine the probability of "X" rares dropping over 100 hours of farming, the average sell cost of all the potential rares that could drop (with appropriate weighting given to those that are more likely to drop, of course), and then that value divided by 100 for a "value per hour" of farming. But none of this can be known until we actually see what the market price for these items is, and until we get an idea about the specific drop chances of all of these items as well. None of this is known yet, and honestly, it would be fairly foolish to even try and speculate as of yet.
Also, slightly off topic, but damn you Australia. I wish our minimum wage in the US was closer to that!
Rollback Post to RevisionRollBack
To post a comment, please login or register a new account.
Was just wondering if anyone as actually thought of a formula for pricing items in the RMAH to be profitable but at the same time fair? So if it takes me 100 hours to find and/or craft an item I would have to figure out a way to convert that 100 hours into something of an hourly wage and not only that the fees that are applied to it. I don't want to spend a ton of time to farming and item and just throw it up there and essentially get ripped off. Just wanted to know if anyone though of anything.
This does not require any sort of advanced formula, and is based entirely on how you value your own time. Most people are going to see any money they make off the RMAH as a bonus, as they made it while playing a game that they were probably going to be playing anyway. But even if you intend on trying to make a living off of this, it's totally subjective as to what you consider getting "ripped off"...and it doesn't take anything more than 4th grade math to figure this out.
The chances you find something that isn't already up is probably quite small given the absolutely enormous size of the Diablo Auction House. There isn't going to be a formula for pricing, you can only sell it for what the playerbase will buy it for. Which again, given the size of the auction house and the # of similar items up for sale will be slightly lower than the previous guy.
Epicurus
There is no "Formula". It only depends on demand and supply. If the item you got is on average sold at 5$ you can sell it maybe 6$ at most and going down if there is a heavy concurence on the item.
If you get a rare ultra mega rare, maybe 50$-100$.
It's all luck, supply, demand and statistics. There is no way you can get a formula f("Number of hours") to get the price. If anything you can compare the amount of hours * 15$ to the price of the item and conclude there is no way you can make a living out of it.
lol...I'm not talking about "making a living" but if I'm going to sell the item I at least want my moneys worth. Lets take your logic behind it into consideration. If I spend 100 hours farming a legendary item do you think it would be fair to sell it for $5.00? or maybe selling it for $600? Both of these number seem very unreasonable because either I'm not gonna get my moneys worth for the time I have invested or no one will buy it. If I'm going to be putting items up on the RMAH I want it to sell and I want to sell it for a fair price. Even if I'm going to play the game and enjoy it regardless. That is no reason for me to not take some sort of consideration into a price. If you want to make nickels and dime off of the items you put up that's your prerogative. Just keep this quote in mind.
***Time is money***
LOL min wage for an adult in Aus is >$15 per hour,
Australia's minimum wage is $15.51 per hour or $589.30 per week
Epicurus
thats really sad for the battlers, I made sure to tip those guys well when I went to the US
your logic makes sense.
But you're asking for some formula for this, and there is no possible way in hell to come up with one. Time is money, yes, but value is in the eyes of the beholder. One "formula" will not apply to everyone, and there is no way to come up with any sort of rational formula for this anyway.
The market will determine the price. You will have to take every single item on a case by case basis as to whether you think it's worth investing the time for that given price. Plus, with how item drops work in D3, it's not likely that you'll be able to specifically farm for "Barbarian Ultra Rare ABC". Instead, you'll be going through Inferno, killing things that have a decent chance of dropping Rares, period. Eventually, you might find "Wizard Ultra Rare XYZ". And that might have a very different RMAH value from the Barbarian Rare.
I suppose a formula, eventually, could be come up with to determine the probability of "X" rares dropping over 100 hours of farming, the average sell cost of all the potential rares that could drop (with appropriate weighting given to those that are more likely to drop, of course), and then that value divided by 100 for a "value per hour" of farming. But none of this can be known until we actually see what the market price for these items is, and until we get an idea about the specific drop chances of all of these items as well. None of this is known yet, and honestly, it would be fairly foolish to even try and speculate as of yet.
Also, slightly off topic, but damn you Australia. I wish our minimum wage in the US was closer to that!