How iron prices have changed over 2 years

Discussion in 'Marketplace Discussion' started by nfell2009, Dec 14, 2014.

  1. Heya,

    So I posted this image:

    ~2 years ago (Decemeber 31st. It's nearly that so it's alright :p)

    And in the background Fellyboy is selling iron for 5r per ingot. Today's price is around 3.5-4r. I know that the market price went down quite quickly with users such as chickeneer flooding the market with cheap iron ingots.

    So this shows that the price of iron is now slowly creeping up to what it was 2 years ago. Now I have some questions for you:

    1) Is this good or bad?
    2) Why do you think that?
    3) Do you think the market is recovering?
    4) Do you think the price will increase, stay the same or decrease?

    I'm going to try and find some prices from over the 2 years and hopefully plot a graph showing iron prices to time.
    tuqueque, ShelLuser and sambish20 like this.
  2. All it means is people don't want as much rupees for them anymore, most likely because they have more iron now than they used to. I think its good, sees how a ton of more players are playing now, and who doesn't need iron. I don't think the market needs to recover, and that it is fine where it is. I think the price will decrease.
  3. Diamonds were 35 rupees lel
    cadgamer101 likes this.
  4. I remember them being even cheaper! The good old days :')

    My theory is that people who hacked were able to get a lot of diamonds but now the hackers are banned a lot quicker meaning they don't have a chance to get the diamonds ;)
    sonicol1 and Luckypat like this.
  5. Now, I was obviously no where in sight 2 years ago (didn't even play Minecraft back then) so I can only give some general comments, though still valid in my opinion.

    As clich├ęd as it may sound I don't think its either good nor bad. This is simply a sign that the economy here is actually 'alive' and is basically healthy on top of that. Where people trade and do business then prices are tend to change. For all the obvious reasons; people who start lowering their prices to attract more customers, others who try to keep a large supply of mats handy and even your occasional "giveaways" have a certain potential to affect the market.

    But like I said; its just the way economy works. So I think this is merely an indication that the whole idea works.

    Which, in my opinion, is pretty cool if you consider the freedom we have on this server. As far as I know "mob grinders" are allowed here, and when looking (for example) at zombies then you can collect all sorts of stuff. And even with that in place the whole thing still basically functions as normal.

    Reason I mention this is because I know that on many "other places" certain restrictions have been put in place in order to avoid the market from destabilizing. Usually nothing really intrusive, and most of all very logical, but even so; it is cool to see this working in a market which is mostly totally free.

    (ignoring the Empire market for now of course)

    So; I don't think the market is recovering because I don't think it was broken in the first place ;)

    As to prices and such, I have no idea.
  6. My opinion on the prices is that EMC did not have as many players as it does now. The more players, everyone needs diamonds to the demand grew bigger. Yes that means that more people will mine for them, but more people will be wanting them :)
  7. The prices, to be honest, have actually been increasing for the past 4-5 months, as the average price used to be 2-3r per ingot. I also think it's great that prices have dropped, because iron is an essential item, and the low prices help our newer players :p
  8. I'm pretty sure I used to see iron ingots for around 6r-8r when I started.

    Would have to try and find some in my rupee history though.
  9. Iron kinda went like this:
    7r -> 6r -> 5r -> 3r -> 2r -> 3.5r
    cadgamer101 likes this.
  10. Just need to point out that the 5r I said is an SMP4 price which has/had a relatively cheap set of prices.
  11. Yes, this.
    And its just supply/demand, why worry about it much.
  12. I think there are more and more farms being built so it is much easier to obtain iron, and some people are getting too much iron *Cough* 18910 *Cough* and selling it for cheaper. Since has high supply, and medium demand it is sold for cheaper but still maintains a decent price due to the need for it.