It appears Medusa Head has sold with Qetesh the winning bidder at 300,008PED. Yes folks that`s a mere 30k USD. What can we gather from it going at such a low price compared to what was expected and what other in game real estate has sold for? A message for MA perhaps? I`m sure it will be a busy day in the MA and FPC offices tomorrow!
You have to give it to Qetesh, he sure has a talent for making good deals (even when the auction is not bugged). EU yet again shows it is a game theory laboratory (or microeconomic, if you like). In the last year or two the big players have abandoned the all out competition strategy, and realized they can raise their utility by cooperating with others. MA should start thinking about employing micro-economic advisors to plan these kinds of things better, because right now the players are outsmarting them :)
Perhaps this is what happens in a saturated market when there already has been a "big deal" recently. Nice bargain, though!
Will be interesting to watch future LA sales and see how low they sell for. Let's face it... Medusa sale just cut the value of current LAs in half at LEAST! I always believed I'd see this game become affordable to the average blue collar individual. Gz to Quetesh for a great strategy! Menace
Well as Menace said, I do see that future prices of average LA's going down. This is also an affect from the world economy. But what is interesting will be what Mobs will go on the islands.
so you see current holders of LA sell for half the value they paid? unless a seller offers a reduced price, the value doesnt actually go down. (students of the contrarian school might see all this negativity as the bottom btw.)
I think many of us hope it`s the beginning of some price correction and perhaps MA will take a hint and tweak loot geared toward more player retention. But I don`t think that will be the case. What we saw for Medusa was the players who did have the money banding together to buy low. But faced against real competition they will only be forced to bid more as they have in the past. And I`m sure they would to attain such properties.
I don't think current holders will sell for half the value they paid, BUT 4 of the 7 LA's recently in auction didn't even get bid on and I'm sure the last 3 won't either with the prices they're asking. If people don't buy Big Mac's for 10 bucks each they're still WORTH 10 bucks cuz McDonalds won't drop the price? Come on.... An item's value is only what the purchaser value's it at... otherwise it's nothing more than a pipe dream. People seem to have a hard time accepting the fact that maybe Medusa WASN'T this "Steal of a deal"...... maybe it sold for more than it's worth. Maybe Quetesh and his investors were blinded by the previous LA sales (asteroid, CP) and bid too high? I mean.... think about it.... give me one GOOD reason why items/LA's should CURRENTLY have huge RL value? In a virtual world where profiting is becoming harder and harder for the "ubers" is their gear still worth what it used to be worth when the gear made profiting fairly simple? Face it... the days of "Uber expensive" are over. The upper echelon of spenders have had a GREAT run for the last 8 years. Time for MA to invite the blue collar individuals out to play. Menace
its not that simple, its a two way thing from both a seller and purchaser, and neither is value truely based on a single transaction. hence the term "market value". one also needs to seperate pricing of commodities from one of or infrequent items, they both have different valuation metrics. if you dont want to believe Medusa was undervalued, go ahead. you'll be proved right when the next LA is offered and brought for 30K. in the meantime, we see that Squallx has purchased additional Domes for 300k + and Qetesh comments he has been offered over 1m Ped for Medusa.
