Strike While The Iron Is Hot
I have been proven wrong.
The Grand Exchange has been affecting prices more adversely than I had thought. In my post about the update a couple weeks back, I left out one crucial factor in my prediction - player speculation. This upcoming feature in the game has been causing severe panic in the Runescape market, most notably for Discontinued items in general where prices are most volatile.
In a mad dash to minimize losses before the rumoured "crash" of the economy takes place, Rare merchants have desperately tried selling off their items to salvage as much profit as possible. Prices just kept lowering due to the excessive sales and lack of interested buyers. To give you an idea of the scale of the fall; if I were to sell off my Yellow and Red Partyhat now, I would make a total loss of 105-110 million gp.
Fortunately though, after the initial excitement of the Grand Exchange has worn off and players abandon their false perceptions of a destroyed economy, prices should start to stabilise and hopefully make a quick recovery back to the top.
This pattern of sharp drops in partyhat prices followed by relatively huge jumps have been observed before. The Construction skill had that exact same effect when it was made known that it would be a "money sink-hole".
And yet, the prices finally made an astonishingly speedy recovery. Similarly, though to a lesser extent, Rare merchants panicked when Hunter came out, thinking that it would be Construction number 2, but the problem eventually fixed itself when their fears weren't realised.
The Grand Exchange has been affecting prices more adversely than I had thought. In my post about the update a couple weeks back, I left out one crucial factor in my prediction - player speculation. This upcoming feature in the game has been causing severe panic in the Runescape market, most notably for Discontinued items in general where prices are most volatile.
In a mad dash to minimize losses before the rumoured "crash" of the economy takes place, Rare merchants have desperately tried selling off their items to salvage as much profit as possible. Prices just kept lowering due to the excessive sales and lack of interested buyers. To give you an idea of the scale of the fall; if I were to sell off my Yellow and Red Partyhat now, I would make a total loss of 105-110 million gp.
Fortunately though, after the initial excitement of the Grand Exchange has worn off and players abandon their false perceptions of a destroyed economy, prices should start to stabilise and hopefully make a quick recovery back to the top.
This pattern of sharp drops in partyhat prices followed by relatively huge jumps have been observed before. The Construction skill had that exact same effect when it was made known that it would be a "money sink-hole".
And yet, the prices finally made an astonishingly speedy recovery. Similarly, though to a lesser extent, Rare merchants panicked when Hunter came out, thinking that it would be Construction number 2, but the problem eventually fixed itself when their fears weren't realised.
I have plans to buy a third partyhat while prices are low. It'll give me something to merch while I wait for my Red and Yellow to rise to their original value. Only one I can afford now would be a Purple, but that's good enough.
Strike while the iron is hot, fellow Rare traders!
Stuff achieved today: Gained 225k Thieving exp, Lvl 67 Agility
