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My wager
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I predict Tome of Secret price will raise today
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Any predictions on USD/Gold exchange rate?
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You, my friend, will have earned a lot of Gold by day's end.
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Damn that's a lotta gold!!
Picked up 10,500 just in case :) |
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They are selling at around 1700 each now, which will earn me around 980 million on my 1.4b investment. I have sell order in at 1999g per tome
(980m before the AH man takes his cut =( I feel strange to be in possession of 1.4 million tomes - I wonder what percentage of tomes in the game I have right now |
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God damn. |
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+1 |
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Goddamn I say goddamn! |
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Note to self: Price Tomes at 1998g |
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Darn it must be nice to have a bankroll to do this kind of investment...! No wonder the rich keep getting richer. The most Tomes of Secret that I can buy right now is about 1,400... :-0 Good luck on making billions though..! :-) |
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I missed the low ToS prices. :(
I really wanted to buy some so that I could craft some gems and items. When I got home the last 10 trades average was about 500 gold yet I could only buy them for like 1,700 gold. |
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Not only a smart investment, but you directly increased the demand with your wise investment.
Well done! +1 |
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@mentok1982 This is bots manipulating the market on ToS. It was never selling for 500 Gold. It's bots selling 1 ToS for 100 Gold ten times to buy anyone that puts them up for the manipulated deflated value then turns around and immediately sells the ones they purchased for an inflated 1700 Gold.
When I see that happening, I simply don't buy mats. Blizzard could do something to stop this, but they pretty much don't care about the AH anymore. |
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@ecocd I notice that people are selling these for 100g as well, but I don't see the big advantage in devaluing the list price. There is no way to see what volume of an order someone puts for sale. Say someone mistakenly saw the low price and put 5000 ToS for 250g each - how would you exploit this? To avoid risk you would probably start by buying 100 ToS - 25k gold - good! Then what, double the amount? By the time you get up to 5000 units they have most likely sold to other people. If you were to just by 10,000 units, you would get the 5000 at 250g each plus 5000 at the higher price, which would be around 1600 right now. So you'd get this 10,000 units for 900g each, but then you'd think they were still on sale and end up buying 10k or 20k more for 1600g each and end up with a 15% loss on that second purchase.
To make this work you need to quickly purchase the exact volume that are on sale and then stop. How could a bot possibly do this? |
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@thechosen2 It's been going on for months, so it's clearly earning people enough Gold to make it worth the hassle. I don't know exactly how it works, but the math is something like, I put up 10 lots of 1 ToS at 100 G each. I sell them to a partner account in rapid succession. The 15% commission comes out of that 1000 G meaning I've paid only 150 G to set up the scam. I think buy the next 100. 10 of those come in at 250 G, 40 of them at 500 G and 50 of them at 1,000 Gold. I've now paid 2500 + 20,000 + 50,000 + 150 = 72,500 for 100 Tomes. I put these 100 Tomes up at 1700 / ToS for 170,000 * 0.85 = 144,500 ultimately making 72,000 G in a matter of 30 seconds. That's 144k G / minute. Do this for an hour and you've earned over 8 million G. That's probably a worst case scenario for them and I'm sure they're making far more than that.
You don't need to by 5,000 units at a time to make a ton of money at this scheme. Plus, people are willing to do crappy stuff to everyone for far less Gold than that. |
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@thechosen2 @ecocd
This trick has been known on youtube since the May 2010 of the D3 launch. At that time the video was explaning the AH's behaviour on the listed prices, and was using low level gems as an example. It does not require a bot, just a human with a computer can already do the trick. I guess there are people who just like to do creepy stuff. |
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What the hell? Did i miss 2 years of playing diablo or did you use that Time Machine of yours? While you are there next time, can you....oh wait, let's leave things the way they are |
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I'm working on a similar operation. Sadly so far the prices of the Tomes haven't rised to 2-3K has expected (EU).
I wonder if they will even rise... |
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Prices are *still* increasing on NA servers. Don't give up hope for EU.
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:( ........
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Too bad you didn't buy them on the HARDCORE NA server... They are over 10,000 each. I didn't check into the price before the patch because I had 1,500 or so saved up, but crafting gems and such uses them up fast. I was curious as to why flawless star rubies were selling for 4.5 million when the crafting price is 1.6 million... I made up and sold 4 for a tidy profit, but could have made just as much cash selling the tomes. :)
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16 users posted in this thread: baccarat0809, BAZTA, DePablo, DHAdmin, douvinsky, eastdragon42, ecocd, gnawol, JJK59, Khan, mentok1982, RaRuMs, Raulz0r, shniggies, Stukthrtl, thechosen2