Cornering a Market: A Case Study

Posted by on Sep 23, 2015 in Galactic Trade Network | 0 comments

  Today we are going to talk about cornering the market in MMO’s. You may be asking yourself what it exactly means to corner the market. Let’s break it down. One simple way to earn money through the in-game market in any MMO is to purchase and sell things on the market. Any market has market makers and they are just market participants that are frequently buying and selling certain listed items. This concept works the same for both the New York Stock Exchange and the Galactic Trade Network. When we speak of SWTOR markets in particularly, the small size of the market in certain items allow a new market participant with some starting capital that will allow them to increase their profits by not just being in the market, but by cornering the market. To be able to corner the market you will need to eliminate other sellers. In order to do this on the GTN, you will have to purchase all of the existing listings and then you will be able to set the prices. By doing this, you will be cornering the market in that item until the other sellers react and then undercut your listings, and this can sometimes take a while. While you are waiting for this to happen you will benefit by raising the price on the item to one more profitable, but if you take this concept too far the buyers will hold out until new sellers with lower prices show up. The Case Study I wanted to purchase two stacks of 10 Zeltron Personal Aroma Sets, and this is the blue quality Rank 5 companion gift for Courting. Companion gifts are selling off pretty well on Jedi Covenant for quite a while now. However, after the latest live stream shown that companion affection will continue to matter in the next expansion, Knights of the Fallen Empire. The latest lowest unit price when it was last checked the market to list my 20 units was 2,900 credits per Zeltron Personal Aroma Set. This is quite a bit lower than I would prefer to sell these units. But, I did notice that the total supply on the GTN is quite low, and this is what drove me for the idea to corner this market for the day. There were 56 units listed for sale and I was able to purchase this for 319,312 credits total, so the average price per unit was around 5,700. I would like to sell these units for 7,500 and this is the normal pricing on Jedi Covenant. This is not a crazy price so that means that fewer sellers will jump in to undercut me. Including the original units and the ones that were purchased to reset the market, there are now 76 units of Zeltron Personal Aroma Set listed on the GTN for 7,500 credits per each unit. The Results of the Case Study Within just 6 hours of buying out the market for Zeltron Personal Aroma Sets, many small quantity sellers undercut the price level. The case study happened on a Saturday and this is a great day for GTN volume, so I was counting on there being enough buyer demand to consume the undercut lots and still have demand left to purchase mine too. This strategy paid off in the end and all 76 units have been sold. The gross proceeds were 535,800 credits and 319,312 credits were spent to corner the market for the Zeltron Personal Aroma Sets. The approximate amount cost of 40,000 credits for the initial 20 units, my net profits were 176,488 credits.   Conclusions The 20 units could have been sold and netted for about 20,000 credits at the market price. I have tested this out many times when the market is too expensive to buy out all the way, but it’s not the best scenario. The biggest requirement for this strategy is the initial credit balance to be able to purchase that supply. There’s no shortcut around that initial credit bank requirement.   Via SWTOR...

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SWTOR: GTN Suggestion – Regulate the Market

Posted by on May 7, 2015 in Galactic Trade Network | 0 comments

When it comes to MMORPGs, there will always be complaints about this or that. You will always see players who request changes are made to PvE or PvP or questing, or storyline, or whatever the case may be. In SWTOR, a common complaint is in regard to the market. This is especially true since the game is free to play and the value and cost of resources can have a large impact on the game itself and how people enjoy it. It’s no surprise then that there has been talk from the fans of regulating the market. Here is a suggestion from For anyone that knows me outside of Star Wars: The Old Republic, I hope that you did not injure yourself when you collapsed in shock that my topic today is advocated for regulation of a market.  I am always in favor of letting market forces drive the allocation of resources, but when some market participants are interfering with the free flow of goods and capital an intervention is warranted.  This is even more true in a game than real life, because at the end of day this is supposed to be fun! If you continue to read, the post will tell you more like why they think regulating the GTN is a good idea, how it could work and how it could benefit players. It also goes on to explain some of what is wrong with the current market and system. “The problem I’m writing about are the sellers on the GTN that list items for exorbitant amounts.  I have become acutely aware of the magnitude of the problem as I’ve spent the past week writing algorithms to identify and remove these sellers from my GTN data to remove their skew in a less manual way in the long-term.” The post then offers possible solutions and then invites you, the reader and fan, to suggest ideas for making it better or telling the author how they are wrong in their opinions of the solutions. So give it a read and be sure to post your comments if you have...

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Unofficial GTN App (/w Mobile Support) – Coming Soon!

Posted by on May 28, 2014 in Galactic Trade Network, News, SWTOR | 0 comments

Do you ever wish you could check in with the Galactic Trade Network while away from your PC? Well, you might be able to do exactly that here very soon. There is a GTN app in the works and the developer posted on Reddit to explain the details. Hello everyone! I am pleased to announce one of the latest projects I have been working on – The Galactic Trade Network (app). This is a simple GTN tracker of popular items (such as materials and gear) that shows you price over time for your server. As of this post, the initial framework is in place. The overall design is placeholder at best and will change. Data currently shown is NOT ACTUAL DATA, this is an early preview! What’s coming before release? The ability to select a server that has available data A submission form to allow automated data submission More items added to the database, such as common MTX items Email/SMS alerts when the average price for an item falls below a certain threshold (currently coding this to be at below 25% of the average) Please let me know what you guys think! Keep in mind that this is an early prototype – it only shows proof of concept – there is a lot more to be done! Keep in mind that the URL is also temporary – I will be making it pretty after it is ready for full release! for the mobile support, simply open that link in your phone – it will properly display for you   While we see there is still a lot of work to be done, we think it’s an interesting start and the concept looks great. As there is no API to pull the data, it has to be manually implemented. I’m not sure how accurate or dependable this would be over time so hopefully there is a better fix for this before the app is complete. The developer wants fans and users of the app to help contribute to the data until there is (hopefully) an API created. It will be interesting to follow this and see how it develops. Would you use an app like...

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TOR TV: Patch 2.4 Video Coverage – GTN Improvements

Posted by on Sep 15, 2013 in Galactic Trade Network | 0 comments

Gaddock Teeg takes a look at the quality of life improvements made to the Galactic Trade Network, now available on the Patch 2.4 PTS. Game really does keep getting better. Players can now use Shift + Left Click with the cursor in the search box of the GTN to add the name of the item. BioWare also added a sortable “Unit Price” column to the GTN Window, which will display the listed item’s price-per-unit. The GTN now auto completes with the price and duration of a player’s last posted auction. In addition, the last price will be remembered on a per-unit basis. i.e. If a player puts 1 med pack up for 10 credits, and their next auction is a stack of 20 med packs (the same type as before) it will auto complete 200 credits (10 credits for 1 x 20 = 200). The remembered price and duration are reset upon area transition or log out. As someone that has about 400 different auctions going every weekend, this can make my life so much simpler. Unfortunately, though, it’ll probably make it far harder since now any putz can just sort by Unit Price instead of having to look through the auctions like you do...

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Understanding the Galactic Trade Network in SWTOR

Posted by on Feb 24, 2012 in Galactic Trade Network, Guide | 0 comments

If you have yet to use the Galactic Trade Network (GTN) in SWTOR, you might not realize yet that it is not an Auction House. Those who come from WoW or similar MMORPGs may be used to the auction house format but BioWare has done something different with the GTN. Different is not necessarily better for a lot of players.  The GTN works by allowing the player to post an item for sale at a fixed price, along with every other player’s items.  An auction house system allows players to post items with a minimum bid and lets the other players bid up to as much as they want for the duration of the auction- or to get it instantly with a “buy now” price.  This isn’t the only difference with the GTN model compared to the models most MMOers are used to. The search function is also a bit crude in SWTOR. By nature, I am an auction house, MMO-trading kind of gal. I love making currency in MMOs almost as much as I love leveling and playing. When I pick up a new MMO, I always jump into the economy and try to see how I can earn as much as possible, play the economy and buy and sell on the trade network. But in SWTOR, I was not as excited about the whole process. The search function was awkward and made it difficult for me to find anything.  It was also not as easy to see what other players were selling items for, making it more difficult to compare pricing and try to post my items for a competitive price. Another problem is that items are greyed out if you cannot use them but this is frustrating because you may be using a bank toon, shopping for an alt or something. If you’re looking for color crystals, a similar problem happens. It shows crystals you cannot use due to force alignment even when you search for only the ones you can use. So the search and sort functionality seems really buggy right now. Hopefully this is something they will fix soon.  So now on to selling on the GTN. First you need to put a sell price in when you post an item. The GTN will auto-fill a number for you but never use this one. Always fill in a number yourself. You can also choose how long you want to host the item for: 6 hours, 12 hours, 1 day, and 2 days Your deposit will depend on how long you list the item for. Your deposit is returned if you sell the item. 6 hours – 5% of sell price 12 hours – 10% of sell price 24 hours – 13% of sell price 48 hours – 15% of sell price You also get the deposit back when the item expires. The only time you lose your deposit is if you cancel the sale. So once you post it, plan to leave it there until it sells or expires. There is a 3% fee charged by the GTN when you make a sale. This is fairly minimum and since you get your deposit back (which is much higher than this 3%) you will hardly even notice it.  So those are the basics of how the Galatic Trade Network works. It’s still pretty early in the game to know what will happen in the economy. Often games like this take time for the economy to stabilize by server.  Now that you know the basics, stay tuned for upcoming guides on how to make the most from the GTN and the items that you sell. We will also tell you how to make more credits in the game by selling greens and other items you find in...

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