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  1. #1
    Thorzek's Avatar
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    Vendor Floor pricing

    So as not to further derail that other thread:
    Quote Originally Posted by Gnomage View Post
    Obsidium ore when prospected as an entire stack comes out to 6 gems average, sometimes more, sometimes less, but overall the closest solid average is 6 gems per stack. 6 green gems from obsidium when cut are sold for 9g each to a vendor. Therefore, average "floor" for obsidium is 56g, when vendored as cut green gems.
    Fair enough, but that's not at all how the value of saronite ore was derived which is probably what caused my confusion. I'm not all that comfortable using RNG-based anything to define floors, but it's stable enough to adjust for it one prefers. I do like it, however, in the fact that not a lot of people will see this - I obviously didn't, having worn my JC/prospecting blinders for so many hours so far.

    Oh, and 9 * 6 = 54

    =P

  2. #2
    Quote Originally Posted by Thorzek View Post
    So as not to further derail that other thread:

    Fair enough, but that's not at all how the value of saronite ore was derived which is probably what caused my confusion. I'm not all that comfortable using RNG-based anything to define floors, but it's stable enough to adjust for it one prefers.

    Oh, and 9 * 6 = 54

    =P
    It's not super solid, if your luck is terrible, you may make only 36g (9 * 4 IS 36 right??), but average it's 54.

    Oh, and that's what I get for not using a calculator when I'm talking on the phone and trying to reply to people. /shame

  3. #3
    Brouck's Avatar
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    I think to discover the floor price for an item, one has to take the said item and find the highest gold making vendor use of the item. Hence the 54g floor for a stack of Obsidium (or Eternium) whereas for Saronite, it was 12.5g per stack due to the highest vendor price being that of saronite bars. To make the argument that Thorzak is stating perhaps the *new* floor, or rather non-rng floor for Obsidium should be 36g. In fact feel free to inform all ore farmers of the new floor for me will you

    On another note, am I the only one who would rather have an alicite prospect than an amberjewel? Those things go for a measly 7g on my server, and the market for the cut ones is insane.
    Half Assed Goldmaking - When going all out isn't an option

  4. #4
    Quote Originally Posted by Brouck View Post
    I think to discover the floor price for an item, one has to take the said item and find the highest gold making vendor use of the item. Hence the 54g floor for a stack of Obsidium (or Eternium) whereas for Saronite, it was 12.5g per stack due to the highest vendor price being that of saronite bars. To make the argument that Thorzak is stating perhaps the *new* floor, or rather non-rng floor for Obsidium should be 36g. In fact feel free to inform all ore farmers of the new floor for me will you

    On another note, am I the only one who would rather have an alicite prospect than an amberjewel? Those things go for a measly 7g on my server, and the market for the cut ones is insane.
    I find it extremely hard to sell any type of yellow gem. I vendor Alicites as soon as I cut them. Especially since most people sell alicites at 8g 99s 99c. Which is ridiculous, but ok. I would buy them all and vendor, but 1c per cut isn't worth it to me.

  5. #5
    Thorzek's Avatar
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    I didn't mean to stir anything up about this, if this is the definition of floor pricing it works for me, it's just a deviation from the 100% guaranteed vendor price of the commodity itself and going to the mostly-static derivative items - easy enough to adjust to. My biggest hesitation using anything RNG is that we need to be VERY careful using systems dependent on them to avoid cascading errors. This is probably the best case scenario - something with a large enough sample size we have a high degree of confidence in the results and the vendor price of the derivative item combine for pretty consistent results.

  6. #6
    Aeg's Avatar
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    One of the reasons that the 'floor price' of 54g was set was because you have a good chance at a rare (blue) quality gem in 1 stack effectively making even getting just 5 gems have a value higher then 54g. These sell for more then 9g right now depending on what you get. 6 uncommon gems or 4 uncommon and 1 rare should all give you more then 54g. The only time you do not get that amount is when you get 5 uncommons and 0 rares.

    The reason it is important to figure out the 'floor price' is also for potential future stockpiling into the next couple expansions. The value of 54g would be too high as a base value for what I can get worst case scenario and once we get more data through a lot more prospecting we can figure out the price where it is a 100% safe investement barring a change in values from Blizzard.
    Last edited by Aeg; January 18th, 2011 at 07:53 PM.
    Experience for mining/herbing - Making farming tolerable and leveling painful.
    There can only be one Rewind Trader

  7. #7
    Quote Originally Posted by Brouck View Post
    I think to discover the floor price for an item, one has to take the said item and find the highest gold making vendor use of the item. Hence the 54g floor for a stack of Obsidium (or Eternium) whereas for Saronite, it was 12.5g per stack due to the highest vendor price being that of saronite bars. To make the argument that Thorzak is stating perhaps the *new* floor, or rather non-rng floor for Obsidium should be 36g. In fact feel free to inform all ore farmers of the new floor for me will you
    And for me, as well.

    Quote Originally Posted by Brouck View Post
    On another note, am I the only one who would rather have an alicite prospect than an amberjewel? Those things go for a measly 7g on my server, and the market for the cut ones is insane.
    I'm the same way - I craft into , and DE for , which I absolutely can't keep in stock right now. I can order up 20 stacks and they're gone within 36 hours.
    Retired - I blame Kathroman for everything.

    (that's a joke, eh)

  8. #8
    I feel ya on the and . Hell i just bought a Amberjewel pattern just so i could cut/vendor them =/ I had 20+ in my bags. I'm usually able to sell alicite's for 18-22g tho and that (according to a spreadsheet i use at least) is better than DEing. But like someone said, i can't keep enchanting mats in stock so it's a trade off, losing a few percent profit for instant results or having to slowly move the raw gems thru the AH with the risk of losing more and more profit with cancel/reposting.

  9. #9
    Praxel's Avatar
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    Sorry to cause confusion, it was my post in the Deals thread that got this ball rolling. First, when I say "vendor floor price," I'm referring to the floor price I calculated in this thread: http://consortium.stormspire.net/sho...mmon-materials. Let me explain how I reached that price.

    The statistical floor price for Obsidium is 55.12g, which includes the highly-variable chance for rare gems to drop (and the vendor price of cut rare gems). If we factor rare gems out of the equation entirely, the average floor price for Obsidium settles to 54g/stack. You have an equal chance to get 1 or 2 uncommon gems per prospect, for an average of 6 gems per stack. The chance to spawn a rare is in addition to the chance for uncommons, so the math stays neat. Cut uncommons vendor for 9g each, so voila... 54g/stack. This is an average with a very high level of confidence... after prospecting just five stacks of ore, statistically speaking, you have a 95% chance to be within 1 gem of the mean. Any goblin who cares about the floor price of Obsidium Ore is going to prospect more than enough stacks to overcome the variance

    That's not to say that cutting and vendoring is the best avenue for using these gems... any enterprising goblin with a Disenchanter or an Alchemist can probably squeeze 80-100g out of a stack of Obsidium Ore. Hell, I've gotten in the habit of just listing these gems on the AH for 12-15g each and enjoying an extra 25-50% profit.

  10. #10
    Great explanation, Praxel - not to hijack the thread, but since you mentioned the profits to be made off Obsidium - anyone interested should check out the spreadsheet that Sterling has. I've got a modded version of it (download link is on page 3 of the thread), too, that will let you allocate prospected gems to meta transmutes, disenchanting, etc. manually.
    Retired - I blame Kathroman for everything.

    (that's a joke, eh)

 

 

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