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Topic ClosedTrade hub development: Where to send merchants?

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The_Dude View Drop Down
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Direct Link To This Post Posted: 26 Feb 2013 at 20:17
Brand, "value" is a subjective perception.  Not an objective fact.

Even in Illy, the strike prices of Illy market deals are still supply/demand based.  The unaccepted offers reflect the offeror's perception of value - just like used car offers on Craig's List.  When an offer is accepted, at that moment, that is the Fair Market Value of the good, by definition.
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Direct Link To This Post Posted: 26 Feb 2013 at 21:05
When I price items for sale, I don't include any "cost" for anything that I can harvest; to me, those things are "free", especially since harvesters have no upkeep cost (just the occasional replacement cost when they get eaten or killed). I only consider the cost of any items that I have to purchase (normally just animal parts), where I note the gold cost to me and factor that into the asking price.

In fact most of my profits (admittedly small) come from selling basic res at local hubs, where people are trying to get 2x or 3x the Centrum price. I just sell them at Centrum prices.

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Direct Link To This Post Posted: 27 Feb 2013 at 04:09
Originally posted by The_Dude The_Dude wrote:

Brand, "value" is a subjective perception.  Not an objective fact.

Subjective valuation is not mutually exclusive from the existence of commonly accepted methods of valuing commodities. For example, when establishing an approximate price for a company (and its publicly trade shares), there are industry-accepted references for evaluating its balance sheet, price-to-earnings ratio, revenues, assets, liabilities and cash flow. Those guidelines are certainly not the only aspect considered--hence the broad range of ratings and price targets set by finance professionals--but at least part of their analysis begins on a common ground. I think there is considerable value to discussing how we individually price items, with the possibility that we might arrive at some ballpark numbers for equipment prices. If there are varying opinions about the accuracy of those price ranges, I see that as good, because that's what leads to buying and selling.
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Direct Link To This Post Posted: 27 Feb 2013 at 04:17
Originally posted by Llyr Llyr wrote:

When I price items for sale, I don't include any "cost" for anything that I can harvest; to me, those things are "free"...

I'm not willing to go quite that far. Even though the harvesters have no hourly cost, it still costs me some personal effort to harvest rare resources. That time is worth something, at least to me.

I do agree that some of the trade hubs have inflated prices on basic resources. Caer Morock didn't, which is why I was able to harvest herbs and anatomies and then basically swap those for basic resources at the hub. It allowed me to grow in a way that I found interesting compared to the usual (boring) newb focus on leveling up basic resource plots.

Even the Centrum prices on basic resources seem a little arbitrary. I've often wondered if people picked a 1 gold exchange rate simply because that's the same rate used in most tavern quests.
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Direct Link To This Post Posted: 27 Feb 2013 at 04:41
Originally posted by Brandmeister Brandmeister wrote:

Even though the harvesters have no hourly cost, it still costs me some personal effort to harvest rare resources. That time is worth something, at least to me.

I do understand your point; I think the value of player time is extremely subjective. I'm retired with far too much spare time on my hands, so now that the weather is too lousy to drink beer on a patio I have lots of time to waste playing games. That's why I don't put any gold value on harvesting time; if I weren't playing Illy, I'd be wasting my time on something else Smile.

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Direct Link To This Post Posted: 27 Feb 2013 at 13:47
Originally posted by Brandmeister Brandmeister wrote:

... For example, raw resources and money are both produced spontaneously with zero cost. ...
Originally posted by Llyr Llyr wrote:

... When I price items for sale, I don't include any "cost" for anything that I can harvest; to me, those things are "free", especially since harvesters have no upkeep cost (just the occasional replacement cost when they get eaten or killed). ...
There is also:
  • Opportunity cost is the potential value to you as a seller, if you were to invest those resources into something else;
  • The nominal cost of your own time, for trading, limited caravans, and for setting up infrastructure and queues that enables the resource to be made (this is only something that individuals can determine);
  • The material and direct costs for your production and trading facilities.
  • Anything that is in limited supply can carry an artificial premium.
(Some of these overlap)

I think some posters to this thread would wish for value to correspond to price, but it can be a struggle to convince buyers to buy into your margin over the costs (there isn't really 'marketing' in Illy), and most of us (like me) are not accountants.

I agree that most Illy players do not really see the value of produced goods, in light of their costs, especially considering that one can 'forget' the initial investment of setting up a town — something that accountants don't miss.


Edited by Albatross - 27 Feb 2013 at 13:48
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Direct Link To This Post Posted: 27 Feb 2013 at 18:33
I am not a trader. When I have excess, I sell at the best offer price. When I need something, I buy at the best offer price.

Since it isn't REAL gold or resources, it is of no concern to me.

To try and put real life experience and calculations into the values of items in a game where the effort to acquire the resources or gold is not real and the value to most is not real, is an exercise in futility.
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Direct Link To This Post Posted: 27 Feb 2013 at 18:53
Originally posted by Machete Machete wrote:

I am not a trader. When I have excess, I sell at the best offer price. When I need something, I buy at the best offer price.

Since it isn't REAL gold or resources, it is of no concern to me.

To try and put real life experience and calculations into the values of items in a game where the effort to acquire the resources or gold is not real and the value to most is not real, is an exercise in futility.
You have described a very real life situation.  You trade when you want to and try to make a deal as quickly as possible.  Willing Buyers and Willing Sellers setting strike prices.  That is a free-market.  You are rational to ignore costs since a seller's cost is irrelevant to buyer who only wants the best price.
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Direct Link To This Post Posted: 28 Feb 2013 at 07:09
Originally posted by Machete Machete wrote:

I am not a trader. When I have excess, I sell at the best offer price. When I need something, I buy at the best offer price.

Since it isn't REAL gold or resources, it is of no concern to me.

To try and put real life experience and calculations into the values of items in a game where the effort to acquire the resources or gold is not real and the value to most is not real, is an exercise in futility.

Reading this is music to my ears...or to my eyes, whatever. As a person who enjoys learning and talking about finance, I spend most of my play time plugging different trade scenarios into Excel.

Truthfully, earning adequate gold in Illy is not that hard (raising taxes is easy and is usually more profitable than selling adv res). If you join the right alliance you may not have to worry about gold and obtaining adv res at all.

The market in Illy is not perfect nor is it complete but its still fun to try to do it well.
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Direct Link To This Post Posted: 19 Mar 2013 at 02:10
I have added the following hubs to the map:

14. Port Tal/Kingdom of Tal

15. The Barracks/Bayne's Irregulars

16. Falkenburg/Northmen

17. Tantark/Tantarkim


Any suggestions?


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