Thursday, January 20, 2011

How to price a new item (or am I an Idiot?)

I logged on on Calyspo this morning to start placing stuff in auction. (the boring, stressful, time consuming part of the trader/adventurer lifestyle I have adapted)
Chatted with some society mates, and started waking up when I saw a new discovery in the global chat.
Rudolf Dragon Plate MK1 Blueprint (L)

WOW, I have been wanting that print for a month, I knew it would come eventually, but thought it wouldn't happen until the next update.  During the update when blueprints were first found on Rocktropia I cycled thousands of PED to loot the prints that I got, some of which were new Discoveries, and some of which got even more new Discoveries when clicked by me, or by another crafter with more skills that I had click them for me.  I don't know if this Rudolf Plate bp just hadn't been discovered from that VU, or if it was a hidden addition from the apparently useless VU this week.  Either way it dropped, and I want it.

I have been camping Rudolf Dragons for a while now and have been almost the only person hunting them.
I know from the other Dragon Plate bps that I have roughly what the ingredients required will be, and have collected over 100 of the hides which is the more difficult to obtain part needed. (I am pretty sure that no one hunter has collected half that number yet)

Being stuck on Calyspo and not having the lucky crafter who discovered the print on my Friend List, I quickly started PMing people who might know him, or that would be around the likely spots where he was probably crafting when he discovered it.  It was a good 10 minutes of chaos trying to get connected with him via other people.

This is where the hard part comes in, I want the print but I also want the best for him and understand that he has something new and unique that would likely sell for more than its profit value when used.  How much should I offer, and how should he respond?

I offered him a price of around double what the existing dragon plate blueprints sell for, and he discussed it with his society leader. (very smart for anyone to do, I wouldn't recommend anyone blindly selling something new without getting advice from more experienced players.)

They talked about it amongst themselves, presumably in soc chat or pm and then asked me if I would be willing to sell them the required resources to click the print.  I told them that I wasn't interested because I believe that the print will drop again, and so that I would like to click it myself when I get one.  They talked some more and decided that they would try and gather the resources needed themselves and craft it. I told them that if they changed their minds to please let me know what price they would like to sell it for. I am still kind of hoping that he will sell it to me even though its not likely.

I think this was probably a good choice for them even though I felt that my offer was fair. It will give them the opportunity for a new discovery when they have their first success, and they will then get to set the price for the new plates.  Very exciting times indeed.

Reflecting back its hard to know if I should have done anything differently, or if I greatly miss-judged the value of the print.  Maybe it truly will be a unique and rare print and I just screwed myself out of every using the hides I've spent a month or more collecting.

It is my goal to be a business man in this game even though I have limited resources.  It is times like this though that the adrenaline and doubt push you to wonder if you should pay 4x what your gut tells you, or to back off and stick with your initial feelings.

GL to the Discoverer :)

narfi

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