Price of Silk Touch and Fortune 3 Picks - Enchanters read!

Discussion in 'Community Discussion' started by Aikar, Apr 5, 2012.

  1. So I brought this up on another thread, but why are people selling Silk Touch and Fortune 3 so low?

    The "Return on Investment" (Yes I work for a Marketing company) on these items is through the roof!

    Silk touch roughly goes between 15-20k currently...
    Fortune 3 i've seen all the way down to 8k

    but look at these numbers, if you used these picks ONLY on diamonds, with rough price of diamond gems being 50 and diamond ores being 150

    Fortune 3 (120% more drops), no unbreaking:
    50 * 1562 * 2.2 = 171,820 (172k) rupees earned

    Fortune 3 with Unbreaking 3 (x4 durability)
    50 * 1562 * 2.2 * 4 = 687,280 (687k) rupees earned

    Silk Touch, no unbreaking
    1562 * 150 = 234,300 (234k) rupees earned

    Silk Touch, Unbreaking 3
    1562 * 150 * 4= 937,200 (937k) rupees earned


    So, spend 20k, get 900k back... these enchants are way under valued.

    Theres really 2 types of people in this game when it comes to money, those who are poor and don't know economics to ever earn enough money to buy a pickaxe even at the current prices

    and then those who do know economics/and/or diamond supporters and can afford them, where another 10k is "nothing" to them.

    If a player spends money to be lazy to avoid earning the enchant on their own, they should pay a fair price for it. Else, the player should put in the effort themselves to earn the enchant.

    I personally think those of us who do sell enchanted pickaxes should really charge more...

    25k for Fortune 3 no ubr,
    50k (50% discount) for Fortune 3 with ubr3
    50k for Silk Touch no ubr
    80k (60% discount) for Silk touch with ubr3

    So next time you sell one of these.... direct people to this thread and ask for a more fair price and show them what exactly they are getting... and how much ROI they will receive.
  2. You have a very good point!! and i will say i have realized this and trust me i'vs been trying to find as many of those as i can for cheap as i can before people really take this in to consideration!

    thank you aikar for pointing out the values they should be though! Good Work!:cool:
  3. I did a market survey on smp5 lately and guess how it looked even for normal blocks: Like the result of someone testing his new dice.
  4. Jup, I see people selling silk touch for 9K... I paid a fair price for mine its sad to see these prices
  5. Or alternatively, there's a sector of the market that are happy to supply low-price, high value items so that these enchants are accessible to everyone in EMC, not just those with the Rupees balance or time to mob grind.

    I reference Greenwell39 who sold all Eggs for 10r per egg so that everyone could afford them. Of course, unscrupulous people would buy them low and sell them high again, but it's the thought that counts.

    Perhaps if there wasn't the capacity to design mob grinders, then these tools with enchants would be worth the prices you're suggesting, but as that'll never happen and it's just someone stood in front of a drop grind, punching away or throwing potions, then no. Especially when macros can take all the effort out of standing there for hours at a time merrily punching away.

    I really dislike the use of the word 'lazy' in computer gaming terms. I don't consider it lazy that someone doesn't want to stay glued to their screen indoors any longer than they have to, or that they may have found their line for enjoying the game and it doesn't include grinding mobs for the chance of getting that one enchant they're after.

    If enchants were determinable, I'd partially agree, but the random nature means that it's not lazy to buy an enchanted tool, it's good sense and time management and if someone wants to offer that enchanted tool at cut-rate prices, then kudos to them and their good nature, intended or not.
  6. I agree with some of that, but I don't think EVERY item needs to be easily obtainable.

    Fortune 3 especially, is a status item. Its not needed to play the game, it just makes things more effecient and makes you more money.

    Silk touch is the same, but with the added benefit of getting unique blocks that are mainly for decorative purposes

    If we was talking about jacking prices up over more than they are worth just for the sake of capitalism and being evilly greedy, id 100% agree, but I'm merely saying right now they are REALLLY under valued. as it is right now, if your wanting money, you could USE the silk touch pick and make 15k pretty quick, and still have tons of charges left

    It really should be at a point that its more worthwhile to sell than it is to use.
  7. Yeah, I've been thinking about this for a long time. Recently I bought a Fortune 3 for 5k.
  8. You also need to take into consideration the supply and demand aspect of it. More people are selling them now that Exp carries across servers and doesn't go when you die, so you'll have your mix of professional enchanters and your casual enchanters.

    So people are undercutting and introducing competition to the market. What you're suggesting is ultimately price fixing. :D
  9. hey kable do you play bf3 pc? or xbox :D If xbox add me nighthawk20000
  10. Xbox im KablexGamer on there too
  11. Xboxing it up! PTFO! Add you in a second be on in a few hours
  12. id say everyone sticks to a same "baseline", what i'm suggesting is to increase that baseline =P

    Id say theirs way more demand than supply, as high end enchants sell pretty quick -- just everyone bases their price on what everyone else sells for.... 15-20k... thats what I did.. :/

    If the "main suppliers" <*points at leaderboards*> started increasing the baseline, others would follow.
  13. Back on topic: I think that it may also be a result of how much patience some players have. Some of the players want to make a quick buck and still make a decent(decent being used loosely) amount of rupees. So they decide to drop the price to about 15k for their silktouch, for example, which in turn can cause other sellers to have to drop their prices as well to meet demand. Also, once a buyer sees that lowered price on the high enchantment item they may start saying to other sellers that they've seen this item cheaper elsewhere and demand that the seller lower the price to at least that amount. I'm sure if enough players that sell enchanted item were to raise the prices back up that the players who sell them cheaper wouldn't be able to keep up with demand and would possibly make them raise there prices in turn. I'm just spit-balling here and I'm sure there are some flaws I don't currently see in my logic, but I think it may be worth a shot.
    Edit: Aikar sort of beat me to it lol
    EdmundWayne likes this.
  14. All valid points, but of course, there is one thing that rules over everything else, and that's what the customer is willing to pay for an item.

    I doubt any of the prices quoted from the maths at the start would be viable, and that perhaps the figures currently being used, albeit low, are more to the markets taste.
  15. As the empire grows more and more goods will be placed in the marketplace. If I ever get a silk touch pick I will look you up Aikar. 50k would make for a nice little nest egg. ;)
    kilmannan likes this.
  16. why? this game wasnt originally meant to contain economies, it was meant to be survival in a group environment, the economy is a mod added, if anything i believe the complete opposite of what you said should be true, it should be at a point that its more worthwhile to USE the tool you worked so hard to get than to sell it. and at this point i would say that is true.
  17. I'm going to play devil's advocate here and assume that people are selling for what they believe the work they put into it is worth. Although even assuming that is true, they have to be undervaluing their labor. I've spent probably 350 XP on enchants (50XP each * 7 enchants) and never received a silk touch or a fortune enchantment (maybe I'm just unlucky). Assuming I was grinding 2-3 hours for each 50 XP (which is about right at the grinders I've made) that's 14-21 hours.

    I don't know if my experience represents the norm, but let's assume it takes an average of 10-15 hours of grinding for one of the enchants in question. Now, I just play for the fun of it and don't really care much about rupees, but if I did care I would think 1000r/hour is a bit low. However, to many, that might seem like a pretty good deal.
  18. From my experience your numbers are pretty close. Luck has a lot to do with it but I get most of my best enchants between 45 and 47 xp. ;)

    So far in about 8 days of grinding on xp double cave spider spawners ....Two fortune 3 unbr 3 eff 3...... one fort 3 enbr 3 eff 4..... one silk touch 1 eff 3 unbrk 4. Also a small bunch of eff3 and unbk 3 picaxes...... one infinte bow pwr II (49xp) and just a few swords minor enchants. All diamond items...of course.
  19. Because if these were the prices, no one would buy them?
    BloodDisciple likes this.
  20. But those were the prices... And people bought them all the time. They may have been a little lower but not 5-10k low. The economy is going into the toilet because every shop/merchant/whatever is trying to sell for lower than the last. Not that it really matters. It is just a game, after all.
    nmanley likes this.