Market Prices Need Maintenance

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ACommence
Old Hermit
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Joined: 18 Jun 2019, 19:21
Minecraft Name: ACommence

Hello,

I wanted to discuss the topic of how many prices have recently been spiking up and down for unknown reasons and it has been constantly running others out of business.

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Here are some examples going to show what I mean.
Example 1 :
Emeralds.
As of last month emeralds have been at 16-32 emeralds for 1 diamond.Suddenly today I find that a price spike happened and it dropped all the way to 128 emeralds a diamond.
This caused my emerald shop to now hardly ever sell and I dont really enjoy having to drop my prices to that newer price to make a sale.

Example 2 :
Netherite Ingots.
This is the opposite of emerald price crisis.It doesn't harm as much but it makes things feel a bit unfair.Ever since day 2 of 1.16 being on BlockHermit,I was the first to have started selling Netherite Ingots.Price was 1 ingot for 12 diamonds/9000R.All of a sudden,people now sell at up to 20k per ingot.I also suspect some reselling but it's nothing I can be sure of.

Example 3 : (Has been very controversial)
Iron.
I don't even know how to describe this but Iron has STRONGLY been dropping in price.First,it used to sell for 12IB (Iron Blocks) for a diamond.It rose to 20 eventually,then 32,now it's at 48 and sometimes 64IB per diamond which is literally insane,it's way too cheap now and many have run out of business ever since.

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Less urgent price crises:

Pumpkins
Pumpkins were at a cheap cost of 3 stacks for a diamond,suddenly dropped to 4 stacks.

Flowers
Used to be at 1 stack for a diamond,now is at 2-4 stacks per diamond.

Rockets
Used to be 1-2 stacks for a diamond,now is at 4-9 stacks per diamond.A bit ridiculous.

Beacons
Used to be 24-32 diamonds per beacon, is now at 12 diamonds per.Not bad but still big drop.

-‐---

Now other than the problems,I have been thinking of solutions.
Here are two examples I will give for discussion among us so that we end up with a solid plan.

Example 1 :
Price law.
Price law could be a list of game items that are all set to average price and players who bypass it would have to fix their prices to stand by the law.Could be player or admin set,in game or on forums.

Example 2 :
Marketing Mayor/Manager.
A player could be elected to manage ongoing prices in market and in shopping regions among the players, that mayor could have the choice to set prices themselves and make a list for players as mentioned in Ex.1.It would be a rough road for the first few weeks of fixing the ongoing mess of prices but would probably get easier as we go as players will have already gotten used to the new prices.

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Of course this is open to any opinions or discussion,and hopefully we can end up with a much cleaner price range and less fighting over prices.

Thank you for reading! ^^
“Peace of mind and a comfortable income are predicted by a dream of eating potatoes in any form.”
-Ned Ballantyne & Stella Coeli
ThinkTrident
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I like the idea of a Marketing Mayor, but I think it should be a small group of people (3-5). That way its not one person calling all the shots.
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ACommence
Old Hermit
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Oh,that's a good idea,it would lift some pressure of the one player that could be mayor if we use this method.
“Peace of mind and a comfortable income are predicted by a dream of eating potatoes in any form.”
-Ned Ballantyne & Stella Coeli
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Tiberaus
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The seniors will not mandate price boundaries nor will we issue punishment for selling something for too much/too little. That amount of enforcement is more than we are capable of or willing. The only time we will interfere with the player economy is when an item has become too rare to be able to reasonably acquire outside of buying it (the elytra admin shop is an example of this.) The only item you mentioned which may become too rare is netherite- we will be monitoring this closely after the 1.16.2 update/nether reset. Players are more than welcome to suggest admin trades.

You may have noticed that enchanted book prices do not fluctuate. This is partially due to the existence of the enchanters' guild, a group of players who came together and agreed to stay within certain price guidelines. While the seniors won't officially recognize any market "counsel" we can give you a channel in the unofficial discord to discuss price rules. You can make a guild for whatever marketable items you want. I foresee this as your best solution.

If you, in particular, need goods and can't find an acceptable price I will also suggest getting it yourself. It seems like an obvious suggestion, but sometimes just swallowing your pride and mining the materials yourself is the best way to get a job done. Find good music or a podcast, get comfortable, and time will fly by.
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ACommence
Old Hermit
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Joined: 18 Jun 2019, 19:21
Minecraft Name: ACommence

Tiberaus wrote:
26 Aug 2020, 20:27

You may have noticed that enchanted book prices do not fluctuate.
I partially agree with this part as since the guild only affects market shops,people selling outside market also tend to underprice books,such as mending which had gone as low as 4 books a diamond and is still rising and dropping in price.But as for market prices,yes,the guild has done a wonderful job at maintaining the book prices.
Tiberaus wrote:
26 Aug 2020, 20:27

sometimes just swallowing your pride and mining the materials yourself is the best way to get a job done.
I agree here too but that's the whole point of shops,sometimes one doesnt feel like gathering it themselves so they just go and buy it.I understand that it is truly the best way to get things done,but I still believe this problem does need a solution.
Tiberaus wrote:
26 Aug 2020, 20:27

we can give you a channel in the unofficial discord to discuss price rules. You can make a guild for whatever marketable items you want. I foresee this as your best solution.
I quite like this part,it sounds simple and will do the job of fixing the pricing.I would be more than happy to partake in anything we can think of through this topic.
“Peace of mind and a comfortable income are predicted by a dream of eating potatoes in any form.”
-Ned Ballantyne & Stella Coeli
Najyk
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The problem is also the fact that people don't always want to join a group for discussing prices like the enchantment guild has done. It feels a bit much to make a guild only for selling iron, for example.

In the beginning of the market region we did have an agreement among most iron sellers to keep it at twelve blocks for a diamond. However, new people kept selling iron and then it all escalated when somebody, don't remember who it was, started selling it at ridiculous prices. When approached he said he did that just because his iron farms were so effective that he needed to get rid of it, even selling it at this rate didn't take care of it all. This drove others to also lower their prices a lot, and now nobody needs more iron because it's so ridiculously cheap. I've basically given up on the iron trade, I decided to keep the price at 12 blocks for a diamond and I hope people are reasonable when buying it.

Personally I think having farms that produce that much iron for one person are just massive overkill, it kills the economy and causes unnecessary amounts of lag (if you can't even lose enough iron when you're selling it in bulk then your farm is just too big).
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ACommence
Old Hermit
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That's a really sad situation,goes to show how much we need a way to get through this problem.Some players think of it as a problem while some others encourage it.Not gonna point fingers,but a certain someone said "If it's already ruined then this wont matter" when I was trying to convince them that their price is too low.That same kind of person is who tells others to drop their prices although they're perfectly reasonable or raise them in the same case.I feel like a guild is good for this to enforce some reasonable and still profitable price ranges.
“Peace of mind and a comfortable income are predicted by a dream of eating potatoes in any form.”
-Ned Ballantyne & Stella Coeli
Kolas
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Big part of the problem is mismatch in supply and demand. People with iron farms have too much iron. When they see that they are not selling much iron at current price, they drop the price in an attempt to capture more of iron market. Same goes for rockets, pumpkins, and all other such items.

While some items like pumpkins and such are not major issues, since their worth is going down more and more(first they removed selling them to server, now selling emeralds is gone), other items like iron should have a more stable price else people can drive the price into ground(not that it already sucks) and only those who can output huge amounts of iron can sustain the low prices.

Sounding like a broken record now, but having some basic admin shops will better provide security to players with smaller farms by keeping the prices in check. We see this in real world as well, where the government provides security to farmers that if they can't sell the crops in the market, the Government will buy the crops at a reasonable price so the farmer gets paid something rather than nothing. If anyone can explain why we still don't have admin shops like on last map, please do.
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Munchkin
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I believe Doges has now somewhat set up a group for Market prices. It will consist of the general public (you presumably have to actually say if you'd like to be a part of it) and then the price candidates. If I'm not mistaken 5 players will run for the position of price control lead and will have discussions with the other candidates and the public part of the group before making a final decision.

The public part of the group, from what I've understood is people who can vote on who will be the main lead for the price tweaking. The change of prices would only be a guideline price, people can change to them if they wish but don't have to. Hopefully the majority will want to switch over to these guidelines.
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