The rate on site changes often so no. Gems are not a stable currency, they are worth less these days on site.
The only reason anyone pays for gems here is to have them cheaper than on site. FR literally has a way to purchase gems on site, legally. Unlike neopets. So I vote no.
[CENTER]Lazy and Paranoid
Does not matter to me either. I am just a little frustrated with the massive devaluation of the currency on here as of late. The value has been nearly cut in half, and if we did have a set rate something like that would not happen. All in all, I am indifferent, I am just glad there are no more scammers. lol.
If sellers can work together and manage to not continuously undercut each other, then rates won't have to be set, but if the sellers keep on pricing lower and lower, the only people you'll be selling short are yourselves.
Ultimately, it's up to the buyers and sellers of this section.
i love luna
Its whatever tho. As long as gems are more cheap than on the site enough to justify going against the ToS then I don't care.
I also think people buy at higher prices more often than you would think, especially if you are trusted and have a lot in stock. Undercutting isnt necessary to be competitive. So try keeping your own price and don't worry about anyone else and see how it goes. There arent exactly a thousand buyers for gems here since you can buy them onsite, there will be natural lulls.
[CENTER]Lazy and Paranoid
Using My Pass (11-23-2016)
I think there's also the issue that no one can seem to agree on a Treasure rate, as some people still sell for 1$:210kt, and others have tried to make it line up with new Gem exchange rates?
I like to buy a mixture of both, but no one seems to have any idea how to price treasure as it's value has dropped quite a bit recently on site.
Im for setting a standard or minimum. But I am heavily biased because I was selling regularly at 1:350 for a brief period of time and was disappointed to come back and see the lower rates.
This is exactly why there would be a need to regulate prices, because competition will eventually make it less worthwhile to sell gems
it's not about being "able" to afford to sell at your rates it's about it being not worthwhile to at least until the people who are undercutting everyone else inevitably runs out of stock to be able to meet demands, at which point the market would just end up rising back to what other sellers consider a fair rate
basically you're being a dick and taking business from other people by undercutting them just because you're satisfied with making less money for the same services, this is the reason why 90% of call-centers are in india but unlike you who's selling a limited resource they're selling a service so this only really works for the first part of my example.. can't really be bothered to come up with something better though since I don't really care or play FR lol
550 for 1$ is your rate now I guess? you made it sound like it was mostly you and one other guy undercutting the rest of the sellers.. and 350 for 1$ was a common price before? so what, an average fair price would be like 500 for 1$ currently?
regardless how you described supply and demand is inherently flawed, the amount of people buying gems won't change if you offer a different rate.. if you increase the price of food people are still gonna buy food.. they may look around a bit more to find if anyone offers a lower price but if everyone agrees on a set price this isn't an issue and makes selling fair and accessible for everyone
---------- Post added at 08:04 AM ---------- Previous post was at 08:01 AM ----------
also wasn't aware that gems were a fluctuating currency... so I guess you'd have to adjust rates when the gem price in game changes dramatically
Ana's slave <3
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Food isn't a good example, it's a perfectly Elastic product at least produce is. Demand is always the same, Supply is always the same and you cannot adjust the price as it would make no difference, people will always buy, and people will always be selling. It's a perfect horizontal line. There's no company selling basic produce for a different amount than what everyone else is because no one would buy from that company.
Stadium seating is the other side, theres a finite amount of resource, and no matter the rate the demand is high, meaning you can sell for basically any price and there's demand for it.
Price/demand graph migh tnot be a bad idea. But I'd need a lot of data to make one. If every seller would give me their most recent rates and past rates they sold at along with how many people purchased at each rate (Converting item sales into gem equivalents would be great) We'd have a better idea of at what to setrate