I got a phone call yesterday from Tobril. And he opened with “Hey, I got a question for you. I need a prise check on a +1 greater heart?”
And it got me thinking, how do you assign a value to a given item?
I think you have to start with what currency are you talking about. In this game there are a ton of different currencies. Plat, larges, epic scrolls, scales, other items.
Me I do most of my thinking in larges. Namely scales and stones. Although I am working in red scales mostly do to others valuing them higher then I do. Think strength of the scale(dollar) vs other(global) markets.
Before I move on I value 2-3 stones to a scale, a scale + stone to a red and 350K- 500k per scale. I have seen a bit over the last few days to say that a red might be worth 2 scales. But I am not there yet.
So now that we have our currency we need to think about setting a price. How do you do that? Well since there is no manufacturing or material costs we have to go with what would we pay for said item. Me I wouldn’t normally trade for a heart. Why? Because a few dollars on TP costs me less then the time I spent in game “earning” the item/s I am trading away. But I try to put myself into the mindset of a person that refuses to pay for a in game item.
Then I look on the forums and the AH (-30% at least on AH prices) and see if I am high or low.
Then I have to say what is the lowest I would take? Any thing below that point is a no go.. Somewhere in that number range I set a mental price. And of course have to add in a little for am I going to use this? Does a guildie/friend have a need? Because they get the “buddy” rate. Sometimes that rate is lower, others higher. It depends on how I felt trades with that person has gone in the past.
Tobril often thinks I make trades that are way in my favor. So he wont trade with me most of the time, he things I would gouge him. Other then one trade were I unknowingly way undercut current market value, I would say all of our trades have been fairly even.
So how did I answer his question at the start? A red and a scale, may be a red and 2 stones. And I would hope for 2 reds.