Hello, we need to much of this for the Requiem Armor Set. The Price is to high and its not a regular drop. Only a Reward for Lv 64. The Price is 3gold in the Moment and only 18OO in the Blacklion Trading Market.
We need a Recipe or a other Sigil. That was hopefully not the thinking, making such a Sigil so expensive.
Hello, we need to much of this for the Elegie Armor Set. The Price is to high and its not a regular drop. Only a Reward for Lv 64. The Price is 3gold in the Moment and only 18OO in the Blacklion Trading Market.
If you don't want to pay today's market rate, wait. The sigil has no other use. Once the excitement dies down, it will fall to sub 20 silver or even vendor value. It also drops randomly from forging any four rare sigils and directly from a handful of exotics that contain it.
The cost for complete requiem collection are roughly ~100g plus elegy set it will end up somewhere at 120g but i think it totally worth it, both armor are well designed, i love it so much. You can also buy weapon that has the sigil in it and salvage, it risky but still work.
huh looking at gw2 spidy it's exploded up from 2s in the last two days. what happened?
Someone who raced through the collection found out you needed the sigil, seen it was only 2s and bought alot of them to price hike it.
Also i dont know who at Anet decides on what mats are used but they can never pick something simple, part of an earlier achievement needs 40 of the already high priced Cured hardened Leather, which pushed its already stupid 30s price to 50+ silver.
It should have at least been something you can craft.
Patch has been out 3 days.
Short term price hikes will drop again, as they have always in the past in similar situations.
Pay the current price if you want to buy at market rate or wait until the prices have dropped again if you are unwilling to pay the current market price. It's that simple, no correction needed.
It will take an insanely long time for prices to drop.
Edit: Supply was litteraly 59 at some point today. The tp barons are gonna abuse this item for a realy long time.
Yeah, especially since the sigil is very limited on how to obtain it. That price won't be dropping for a while. At least if it was craftable there would be a little better supply to keep the price even. Instead it was an uncommon sigil that most people tossed so supply is low and demand just skyrocketed. There's no way to bring the supply up to match the demand so the price is not going to fall down or even out any time soon.
The supply does not have to increase, the demand dropping is more than enough to drop the price.
People are once again blaming fictional TP barons and asking for not needed market influence because "I want my shiny now" mentality is going strong once again.
With how many are needed and how many people are going to be doing the achievement, the price isn't going to drop that much. If they could be crafted then price would drop down a little quicker because people would start crafting them to sell, but right now the only way to get them is from leveling and pure chance, the supply is way too low for the demand, and the demand isn't going to go away as quickly as you think it is. Many people don't even play new living story for a week after it comes out in order to avoid bugs.
"fictional TP barons" Aperently some of my friends are fictional. And its not about "I want my shiny now". The price wont go down for realy long time, and thats not days, more like weeks/months. Im not worried though, i plan on farming them through keyfarm anyway.
The demand is fixed and finite, the supply is constant and infinite. Simple math.
Now how long price will remain higher (though 5 gold for a Superior Sigil is nothing new) can be debated but fall they will, especially once less price sensitive buyers fall away.
The price will begin dropping hours or 1-2 days after it has peaked. Probably within 1 week.
No, the price will not reach 2s any time soon, but that is not a health place for a Sigil te be in any way.
It is about getting the shiny now. Price insensitive buyers are willing to purchase their Sigils now not willing to wait until prices drop. Over an entire market this causes a massive spike.
There are people hoarding thousands of these sigils and now cashing them in. There are also those who first realised the need for the cheap sigil and bought up all the supply to cash in.
Both the mass hoarding future speculators and the TP barons exist.
You're just ignorant if you think otherwise.
I can wait oft course, but the amount oft Sigil for the Collection is high. Everyone who will the Armor Set, has to buy that Sigil. In the End the Price is to expensive. A recipe is a easy way to lower it.
and the price will still fall even without new supply in form of increased drop rates or withheld supply entering the market since new supply entering the market can not be pre-purchased.
Demand dropping will reduce the price while putting pressure on people to sell their Sigils for as much as possible.
I am the one who is ignorant?
The problem is that anet is forcing people to rely on an item that is either once per character or random chance for a collection that was one of their selling points for the episode. It makes the whole collection very tedious and frustrating.
Arenanet has exact metrics as to how many Sigils are available, how many are entering the game/market and how many will be required for the collection. They have ALL the data.
If there really was a problem with the supply of the Sigil and the price was over performing(aka it remains over what they were hoping for) they will address this in the future with the longterm in mind. That is a very big IF given they have x amount of months and years worth of data.
You have way more faith in them than I do.
I have more faith in Arenanet than in individuals reacting to a short term market shift due to a change on the demand side.
Especially when these kind of spikes occur with almost every Living World Episode releasing.
So, in the last two days, the Sigil which is needed for the new armour went from 2.5s to 9g, within a couple of hours 15,000 were bought from the TP and re-listed. Currently, they are only available from drops and any exotic with one is now starting at 13g and going up from there.
Can we get a recipe made for these sigils, please? That way the price will be tied to a T6 item and ecto, so they remain within reach of casual players and not a commodity to be hoarded by the TP barons and sold at the highest price the market can bear.
up to 8g now. I thought it was high at 3g but still bought it anyways. man I would also feel a little bad to try to corner this market and squeeze guys who want the armor right now.
Sadly, that will just drive up the price of the relevant T6 material(s) and ectos, so we'd be back where we started except that it would impact crafting lots of other things.
1) There's already an active thread on the subject.
2) The price will start falling within a week, when the initial surge has passed. Not back down to vendor price as it was, but I'm willing to bet that it'll be below 5g per sigil in less than a month and less than 1g within two months from now. Likely sooner for both!
That is truly ridiculous. I have ordered them at a low price and won't be finishing the collection until I get them, because I don't find the skins particularly appealing anyway and thus am in no hurry.
The volume of T6 materials that are farmed/bought/sold means that a recipe like other sigil ones, that use one T6 per sigil would not even be a measurable change in demand.
Now im truly glad that im finished the collection 10 hours ago when Arc were just 2g each and the sigil itself were 3g each, this kinda insane tbh, the armor set is really great and i doubt the price will drop within a week.
It's not "getting out of hand", it's a temporary surge in demand. If, in a month, the price hasn't stopped rising, then I can agree there's a problem.
As it is, we're not even a week in. If you want the new shiny immediately, then you'll always have to pay a premium.
They're not fictional. There are people out there who can and do control whole portions of the economy.
ANet should have made a recipe for this sigil before introducing it as a material since the supply is limited and that would tie it to other materials and give it a value based on the already functioning economy.
Look at the graph on this link. You will see that in 1 hour nearly the entire stock of sigils was purchased and then once the demand goes up, thousands are dropped back into the economy for 500x more than they were purchased for and then it only gets worse from there. Like 4500x more expensive.
Don't try and tell people that TPBarons don't exist it's just willfully ignorant and plain wrong.
This, ladies and gentlemen, is precisely why I never sell or trash ANY rune or sigil. I use the Mystic Forge to promote them to Exotic and then either store them for future use or sell them if they are valuable.
I bought some when they were just over 1g. Kind of regretting now that I didn't buy a lot more of them.
Here's a tip to get some: 6th birthday level-up scrolls go to 60. Add 4 tomes of knowledge to get to 64 and you can pick one from the level-up rewards. Or lesser scrolls and more tomes. Or just tomes if you have them in the thousands. Also requires a free character slot of course.
That by itself isnt realy worth it imo. At least lvl it to 80 and do the whole lvl 80 keyfarm while you're at it.
This isn't the first time we've seen the "novelty effect" spike prices for an item that turns out to be not nearly as precious as people purport it to be. People complained about the price of the Superior Rune of Scavenging (needed for an achievement way back) and very quickly the price dropped, even though it doesn't drop in bulk from anywhere. People decried the price of Named Sunspear weapons when PoF launched. "80 gold! too much, it will never go down." And sure as the sun sets in the west, these weapons trade at around 10 gold these days.
A new shiny appears and lots of people are willing to pay extra to have it now. People who are 12 hours behind hear about the spike and panic, and are willing to pay more. And some who hear about it a few days later panic even more, are willing to pay even more. Those who hoarded the item are, of course, happy to have extra to sell to those panicked buyers at whatever price those people seem willing to pay.
The secret to spending less is... don't be willing to pay that much. The price will go down.
And if that's not fast enough for you, buy rare sigils cheaply and forge them. You'll get a lot of junk, but also Superior Air, Force (both worth some decent coin), several others worth selling, and also Nullification. Costs are around 6-7s per 'throw' and with a profit around 2s.
tl;dr this is a novelty effect demand spike; the price will go down, but not today or tomorrow, so wait it out.
The collection also requires 450 Mistronium. There's a handful of nodes on the map, three hearts, and limited other sources. For a lot of people, that it's going to be worse than some extra gold.
Again, if you don't want to pay a premium, don't buy it this week.
Of course TP Barons exist, but it's a misunderstanding of basic market forces to think that they can control the supply of anything in the game. If the demand wasn't high, no would be selling at anything above vendor +15%, which was the price last week.
Further, the sigil drops from other sources, including various exotic weapons that drop from anywhere. It is simply not possible for any person or consortium to control the price for long.
It might be worth it to people who don't care to do key runs and just stockpile the scrolls and tomes.
I bought all mine the first day as I saw this happening. Luckily they're only required for the collections and not needed when buying from the vendor.
You have shown many things. Not one thing you showed was proof of a minority cornering the market or being responsible for the dramatic price increase.
You are the exact person who likes to take multiple facts, make statements about them, come up with a group of people to blame (in this case in game wealthy minority) while not taking into account basic and mostly common knowledge how markets and large groups of people function or react. Especially since we have official statements from the past that market control on items is very seldom, very limited time wise and often not profitable for the controller.
I never said there is no rich players in GW2.
I never stated that there is no people who took advantage of early information and try to flip a quick buck.
I said the price spike is not due to some few TP barons and prices will drop once the spike is over.
Yes this does include thousands of normal GW2 players who might gamble on the item increasing in value and purchasing a stack for themselves. I have done so myself in the past if I had the chance. I am by far no where near where a TP baron might be.
I just think back to when swim speed infusions were worth farming for. And I like that people are exchanging gems for gold to fund their habits too.
All this would have been avoided if a recipe was made with the patch, just cut and paste any other sigil recipe code and add 50 kralkatite ore to it, done. No issues.
If you actually look at the data, 18k sigils were bought in 1 hour taking the supply from 22k to 4k. That's not a lot of people doing it all at once. It's the first person and maybe a few mates he told about it buying the entire stock because they were vendor price and it's obvious the demand is about to skyrocket. Then, as it does, you can see them dumping them back in making bulk gold from other players. That is controlling the market and it's a situation that shouldn't happen.
ANet could have also required 10 icy runestones in place of 1 sigil of nullification. That would be 10g instead of 6g (current market price).
And frankly adding 50 kralk-ore is much much worse for most people, because it's so annoying to acquire, so actually: issues.
In general, it can be good for the game if some drops can be traded on the TP for high prices. That's more fun for most people, because it makes loot acquisition fun, rather than just about efficient management of inventory. The trade off is that when prices are high for something, those that want that thing have to pay more. And if it's a thing that already exists, well, some people have hoarded it and will profit from the novelty effect.
I get that your preference is to farm anything other than gold and not to have to wait. That doesn't necessarily make it good for the game or better for other people.
The main thing is: this is a short term effect. It cannot last, because there are simply too many sources of the sigils and the demand is temporary. If you don't want to pay a premium, don't. The price will drop.
Well, anything man, it doesn't matter what the recipe is as long as it's common materials that have a semi-stable price.
I agree its good if SOME drops can be traded for high prices, but when you are implementing a collection for the general populace that is going to have very high demand, you really do want to make the items required have a good supply. It took over a year for the supply of these sigils to go from 5k to 22k and then 1 hour to go back to 5k. The supply can't be that big.
It's not possible for it to have a stable price if a new shiny requires it. Only vendor-bought items have a stable price. There's really not much point to requiring plentiful mats, because, well, they are easily obtained.
The supply doesn't have to be that big. It just has to be bigger than the demand. In the short term (this week), it's not, hence the price spike. In the long run, it will be, hence the predictable drop in price.
you really do want to make the items required have a good supply.
Why do we really want that? What makes that so inherently good for the game that it should be a consideration?
The supply on the TP before the latest story was only enough for less than 900 to complete the collection. Even if I am generous in guessing how many people had enough of these stored away in their banks, that's still not nearly enough of the item for the number of people who will be wanting it for the collection.
And the only ways to increase the supply is leveling characters to 64 or rng. The supply is going to increase, but not at a good rate. Sure, some people might use a spare character slot to farm up some, but that's not going to be many people compared to how many are wanting these sigils now. That kind of tedious farming is not going to last long. Some people will try their hand at the mystic forge and rng to get them, but if they find that the cost of buying sigils to try and get the one they want with rng is not paying out, they will stop.
Supply increase might rise temporarily, but it's going to stagnate again real quick as people get bored or decide it's not worth the time and they can just farm istan.
There needs to be a reliable source of these that can be used as needed, such as a crafting recipe. That way even if the supply on the TP starts to slack off, people can still go and craft it themselves. Also it would allow people to craft and sell them during the spike in demand to capitalize on the new collection instead of TP flipping which harms the economy when done with an item with such a limited source.
And look at that, it seems the trend is already pointing downward!
I'm going to wait a few weeks to finish the collection. I'm in no hurry. Maybe in a week or two when they're back below 1 gold I'll finish it.
Once the prices start to slide, people are going to dump these things for whatever they can get.
LOL! Only a few hours later and I got all 15 I still need at the price I ordered them for, which is 1/3 of its former TP price (even less than its current price, btw). They say that patience is a virtue, but in this case it didn't take much patience.
Sigil recipes use T6 materials which have a relatively stable price because of the huge numbers of them bought and sold daily. Even if every person who logged on this month bought 30 T6 from the TP to craft these sigils, you probably wouldn't be able to tell because as soon as the price went up a bit, people would dump the millions they have in the material storage. But the downward trend of T6 due to Istan farming is going to continue, so increased demand for crafting this armour set would have a negligible effect on their price while still removing them from the game.
It is inherently good when people are able to just play the game and obtain what they need, when you need to put off making the new set of armour for a month or more because one material is basically only available from the trading post, has very limited supply, very few ways more are introduced and the entire supply was bought up in 1 hit by just a couple of people, it's certainly not a positive.
People play games often for the escapism and having other people price the things they need out of reach due to their own greed is no different to real life where 8 men control 50% of the wealth of the world. It's bad for morale and the game in general. Plus, completely unnecessary, there are no positive benefits other than removing the supply of one item from the TP. Why couldn't they require Powerful Potions or something? There are over 2.2 million of those just sitting there doing nothing.
They could look up the supply any time they like and see that there is not even enough supply available for 1000 people to make the armor, it's just stupid really. Why do that? What's the logic behind that as a decision?
And yes, they do follow a pattern which is exactly why it's so easy to prevent it from happening.