Pricing foraged/farmed goods

[Quichon]

Okay, this is an honest discussion, and I ask that people not get too flaming over it or it'll get moved to the R&F section.

Now then, the question is: What is a good price for foraged/farmed goods? Is it based on the rarity of the goods, or just the rarity of the goods in the bazaar at the time?

To give an example: Hearty Goblin Blood. It's not an uncommon drop, in a zone that isn't too difficult to farm for some classes. I'll bet a good AE class (wizzy, mage, dr00d) could farm quite a few much faster than my monk can. It's needed in an alchemy combine that is a common skillup from 230ish to over 250, just before people start on NBL's and the Distillate X potions. So what we have here is a steady demand from alchemists leveling up as an alternate lower level route to Nodding Blue Lillies. The supply shouldn't be too hard for the right classes.

So why do people try to sell it for 300pp/ea? Drop rate shouldn't be much worse than NBLs in OS if you go to Droga/Nurga. A decent AE class should be able to clear the whole zone in an hour or so.

In this case, I can see 10pp/ea. There are other options, after all, and the NBLs aren't much more expensive in the bazaar. And on occasion, I see 'em for around that price. But one guy in the bazaar seems to think that if he doesn't have any competitors, that 300/ea is a reasonable price. I suspect he's also buying up all the HGB's in the bazaar to maintain a monopoly. Needless to say, I don't buy them at that price. However, it begs a question...

How do you price foraged/farmed goods? Time spent foraging/farming? Drop rate/forage table size? Supply/Demand for item?

I'm curious to see what people's opinions are.

[Grolyn]

I would think the pricing depends on how easy the items are and the market demand. Fruit for example is a common forage and usually wont sell for over 1 plats each.

I've seen hearty goblin blood vary on Maelin from 50pp to 500pp but personally I wouldnt pay more than 100 and that's mainly because it can take a while for non AE nuking class to get large quanity of. Plus not many visit Droga/Nurga these day as it's far out of the way and not much decent drops there for gearing up.

I think the supply is a bit weak on these goblin blood because Deepwater Ink is easier to farm and usually shows up in larger quanity on the bazaar plus it takes you all the way to 302 so easy skillup to cap plus to max trophy. Of course shamans have to fight those who wants to buy the ink for the AAAA's

It comes down mostly to supply and demand. HGB may sell, it may not sell it depends on shamans and whether they know HGB's can be used for skillup to 263 or if they have narrow mind and only going for deepwater ink and nodding blue lillies.

[Elyssanda]

on foraged goods, rarity is the key.
take Juice of Quellious ingredients:
Fruit-1p
Berries-1p
Emerald Orange-10p-25p
Rathe Berry- 10p-25p
Sylvan Berry-10p-25p

it takes HOURS to forage a stack of the last 3 items, and while you're working on getting 1 stack of them, you end up with a stack or 2 of fruit and berries. And it's BORING as all heck. I take a book, and a fishing pole, and am still amazed at how slow and boring it is to get them. I don't sell them in the Baz at all. and I've VERY Rarely seen them up for sale even at 25p ea.

[Itek]

"how much is X worth ?"

"as much as the market will bear"

Remember the "bazaar price" is the "not selling price" ... it's the price that is TOO HIGH for people to think it's worth it.

If someone has something for 300 and I think it's not worth that for how easy it was to get, I price it at 200. If it sells the price is two hundred. If it doesn't sell I mark it down 10/25 at a time until it sells.

Foraged stuff, like sylvan berries / morning dew are a pain to forage, especially for higher level characters who don't really get much if any exp in those zones. So they command a higher price.

Velium hound fur isn't really hard to get, but it's in an inconvenient zone, hunting them for exp is dirt slow, and the drop rate isn't much to write home about. So generally you find them for sale for 300 to 500.

The drop rate on the "evolving sword" in Stoneroot is miserable. But the evolved sword (I'm given to understand, I don't play melee classes) is pretty darn nifty so the sword sells for 100k base, and maybe 500k fully evolved. Easy zone to get to, but the drop rate and the difficulty of pulling the camp, plus it's frequently "camped" all make the sword pricy.

I'm never a fan of "price checks" because one person's trash is another person's treasure. I'm -sure- I've sold a nest drake meat to the vendor at some point. Then weeks later my wife asks me if I have some. Nope. Oh, gosh I guess it's pretty rare and worth between 200 and 2000 plat. /sigh

[ChaseFV]

I'm with Itek on pricing what the market will bear. If there is someone else selling it, I'll price to match the lowest. If it doesn't sell in a week or two, I start moving the price down until it's gone. If there is no one else selling what I have managed to scrounge up, I guess a fair price. If it sells within hours of hitting the packs, I bump it up slightly the next time I find more, until they don't move the instant they're in the packs, but they don't rot either. In general, the rarer or more valuable the item, the more I charge for it.

As mentioned, things like rathe berries you can charge a good bit for, because there is just no experience in Lake Rathe for most higher level players (and therefore, very little reason to hang out there for hours). Heck, the only time I've been there since my younger days was to help out on epics (cleric 1.0, shaman 1.5).

Do what feels right, and if your items sell, you're doing it correctly.

[Brantes]

I pay a good bit for some things in mass.
Ive been buying large QTYs of Sundered Blade Shards the past week at 150/per
Ive been buying Treant brances for close to the same or more.

I cant forage, and Im happy to pay a little more to get large Qtys of items.

I buy bricks of Yttrium Ore for 350pp/per. I dont have the patience to farm these at the rate they drop.

I think it depends on how long it takes to farm things and how many lazy people like me would rather buy supplies than go farm them.

[filobeto]

The Bazaar price is the not-selling price.....until someone with a large bankroll or little patience comes along. Supply and Demand is the key. Period. I'll provide a couple of examples.

1) Parchments for Research are priced in the baz anywhere from 2k-6k on my server, you'll see a handful of them each night. One would think, hey, that's the non-selling price, I'll put my price a bit under the lowest. You couldn't be more wrong. Eventually, there will be enough out there and someone will come along and buy every one of them, those priced at 2k up to those priced at 6k.

We have a few people on my server that compete for the parchments. Less than a month ago I could easily find them (all but smudged) under 1k. Then sellers started to realize that they would sell them overnight and slowly started marking the price up, until it reached its current state. Bottom line here, there is much demand here and not that much supply.

2) AAAAs are normally priced @ 150k on my server. You will see them drop as low as 125k, but mostly they are 140-150. People make a couple and slap it out there for 125k for a quick buck, little patience. The people that are selling them at 150k are selling them just the same as the demand is high. At times, you'll see one lone seller at 165k or 175k. Theirs will sell at that price, because they - at times - are the only seller. Why? Low supply + a demand.

3) Around the time of the tailoring revamp holgresh furs were a huge money maker for those that farmed them. 500pp or more per fur. Once the rush died down their price also dropped. But there was an individual that kept with the market, priced at 850each. I watched the market closely as I was slowly leveling my trophy. His number would go up and down slowly, but at times was as high as 300furs. I bought nearly all of them a couple weeks ago to ding7 on my trophy. 1 supplier + 1 impatient buyer, that didn't care about the pp = the non-selling price now sold.

Consumables, especially those that are tradeskill related, the buyer sets their price - in some cases, it may be a lot higher than what the seller is asking (that "non-selling" price).

[Qaladar Bragollach]

If one observed my trader behavior, one would assume that my prices are "non-selling" prices as they never change. One would be wrong though. You cannot watch the bazaar often enough to tell the difference between something that is not selling and something that is selling frequently but being quickly replaced.

[Bobaten]

3) Around the time of the tailoring revamp holgresh furs were a huge money maker for those that farmed them. 500pp or more per fur. Once the rush died down their price also dropped. But there was an individual that kept with the market, priced at 850each. I watched the market closely as I was slowly leveling my trophy. His number would go up and down slowly, but at times was as high as 300furs. I bought nearly all of them a couple weeks ago to ding7 on my trophy. 1 supplier + 1 impatient buyer, that didn't care about the pp = the non-selling price now sold.

Consumables, especially those that are tradeskill related, the buyer sets their price - in some cases, it may be a lot higher than what the seller is asking (that "non-selling" price).

That person sold you convienence. It is amazing how many times times I have had someone ask for a "bulk price" on tradeskill supplies. I always replied that all of my sales are bulk. Generally the people that want a discount don't even want all of my supply, while the people who just walk up and click buy will clean me out. People get trapped thinking because my supply is so great, my price should be lower. But that doesn't include the demand side of the equation, and with tradeskills, available supply is almost always far short of demand. Of course these days my trader is full of researched spells with little room for anything else, but I still get people asking for deals on spells because "you have so many". Yep, I do have 15 copies of that spell, but thats because I sold 20 copies of it last month. And of course, 5 out of 10 tells asking for deals while I am afk were followed by a purchase before I return to the keyboard. And the other 5 tells were from one guy, who just keeps asking "u there?" over and over after making his initial offer below the cost of components.

[Grolyn]

Do what other suggested in other thread: put the afk message reading something like "seriously I am afk, sending /tells 20 times wont make me come to keyboard any faster."

[Qaladar Bragollach]

And of course, 5 out of 10 tells asking for deals while I am afk were followed by a purchase before I return to the keyboard.

I get that all the time as well.

[tuis]

I set my AAAA's at 300k and they are usually gone by morning.

But I went and skipped the thread's primary question. Okay, I'm a consumer, so I rarely sell what I pick up if I can use it. My buyer, however, is set to purchase just about everything needed to skillup each race's tailoring and smithing using Master armor, plus parchments, critical AAAA parts, and GM armor/aug components. I don't have any specific formula or set points for pricing, I just kinda "wing" it. If it sells, it sells. If I can squeeze a little more for an item, I squeeze. If my buyer can't attract certain items in a timely fashion, I check other buy lines and adjust.

Adaptation is the key.

[antok]

.

I don't farm too heavily - but do occasionally.

I price stuff so I'm making at least 15k per hour of my time.

When I farm, I farm in bulk, generally via ward of vengeance. I'm often the highest price in the bazaar... and I often sell out first, because I'm farming 100x as many as anyone else.

On stuff that is more pricey like AAAA bolts, I generally charge a bit higher than whatever the average baz price is, and still have more quantity and sell out fast.

[Serano]

I don't mind a person offering to buy something for less. Just because I have set a price at X doesn't mean I am going to be all emotional over the price. But sometimes I don't really care if it sells or not. Most things I just want to get rid of however and set a price low enough that it will move and high enough that someone doesn't just buy it to put on their vendor - well they still might but at least their margin isn't as high.

[antok]

I don't mind a person offering to buy something for less. Just because I have set a price at X doesn't mean I am going to be all emotional over the price. But sometimes I don't really care if it sells or not. Most things I just want to get rid of however and set a price low enough that it will move and high enough that someone doesn't just buy it to put on their vendor - well they still might but at least their margin isn't as high.

RANGER DOWN!