The GTM is going a little bit crazy today… Some greedy people are making the gold sell prices reach for the skies… Let’s see with values :
Average SELL price : 859 213 coins (+8,39%)
Average BUY price : 752 413 coins (-0,13%)
See the details on the following spreadsheet : Gold Trading HT of 22-2
Concerning the buying amount versus selling amount, it’s on the same tracks as yesterday : gold demand going down, gold offer growing up.
I personally think that the greedy people putting such high prices when selling their gold don’t understand anything about economics nor business… Usually, the logic would want to see the prices of the offer going down if the demand is going down. Why ? Here is a quick little introduction to trading markets.
When you want to sell something on a public market, you are by definition not alone selling your stuff out there. Therefore, other people have different prices than yours. If your rivals put little prices on their stuff, they are more likely to sell it because as a consumer, you always reach for the cheaper product (all caracteristics of the products equal).
To put it simple : if you are selling a black pen from Drak brand for 10$ but your rival is selling the very same pen with the very same brand for 1$, the consumer is not going to think it twice and will buy it from seller#2.
This was a very basic approach. Now let’s talk about the supply vs. demand law.
This law is based on the rarety of a product. The more people want it, the less there is available = high prices. Same thing for the other way arround : the less people want it, you have too many products in your stock compared to your sells = prices go down.
=> To put it in a nutshell : what is rare is expensive, what is not is cheap.
What is completly absurd in the HT GTM right now is that it’s messed up : lots of people selling their gold, demand going down each day, but prices of people selling are insanely high !
So here is the PWInsider’s advice if you want stuff from the cash shop : wait until the prices of selling go down. With the expansion coming up, there should be some Zen promotions soon, making gold not so rare… Thus no reason to sell it that high.