Did anyone else notice that the gold price plummeted when the patch when up today from around $2.70 per million to 1.25 per milllion. Let me just say overall the patch has been a godsend, and thank you to the teams at Blizzard. I lost only about 5 dollars in the change. I am not that sad to make one less coffee run but I do not understand. I have guessed however
1- the multiplier was changed to 1,000,000 from 100,000.
2- the automatic price went from 2.7 per mill to 1.25 per mill. (enough people, myself included, sold on the suggested price without thinking that the price dropped)

Will this be permanent or will the market bounce it back up. We will see.... and also tell me... if you want...

The price was at that before the patch, no one with a brain bought gold from the RMAH because you would spend 2-3 times as much per million.

Posted by timbarton411 at 08/21/2012 07:59 PM

The price was at that before the patch, no one with a brain bought gold from the RMAH because you would spend 2-3 times as much per million.

No the price change was what I showed it to be. Further I do not agree that your have enough proof to say that without exception jumping from RMAH to GAH was or is a brainless activity. There are huge margins between the absolute prices of items on the RMAH and the GAH. Huge in this case would indicate a 10% or grater return on investment after paying Blizzard it's 15%.
Rock on.

Posted by DHAdmin at 08/21/2012 11:09 PM

JackOtrade I think Tim ment the black market price of gold was already around $1.25 per million. Blizzard had to make this change as far too many of the gold sales were being down on third party websites.

If so I guess I get why they dropped the price. If this was an intentional price adjustment then I do not think that it will stick. Although gold may stick at a price that is less than it was before, the market will adjust to compensate for the artificial drop in price and the price will rise. As I type this the price has already risen back to $1.37. So I am going to cash out now.
I thought about it and of course it makes sense for Blizzard to up the lot min from 100k to 1mil as they will processing fewer and simpler sales all of which are guaranteed to be higher in profit for Blizzard.

I'm sure everyone is sick of me posting this, but it looks like people aren't reading it. I'll just quote myself this time made pre-patch:

On an unrelated note, with the Auction House change Gold is finally floating since they made it 1,000,000 Gold increments min $0.25, the white market price can now float all the way down to 4,000,000 Gold / $1 which should cover them for years. The current white market exchange rate is 725,000-740,000 Gold / $1 (= $1.37 / million Gold) based on average Gem prices. Those that like to dabble in the RMAH can look for an opportunity there in the first minute of the Auction House going up.

The price right now is $1.36. You'll notice I called the post-patch price on the nose. That wasn't a gray market estimate, that was the white market estimate using some simple math made possible by the d3rmt's market tracker.


This change was easily predictable (my very first post on this site on August 9th) and later a certainty since it was in the patch notes. Blizzard did nothing to the gold price. This was already the price.

Anyway, the price will fluctuate some around $1.36 and will very slowly drop over time due to inflation.

Yup. It's time to cash out real quick. I am expecting the price to drop even further till 1.2 by next week or two .

One thing's for sure . Gold sure sell fast right now . Sold mine within 1 minute after posting .

It was up to over $1.50 last night for a time. I think it's going to be a while before it stabilizes at $1.20 / 1 million (=833k Gold / $1). It fluctuated between $1.35-$1.42 (740k-700k) between Aug 9 and Aug 20 without any real notable downward trend. If the convenience of being able to pay through the auction house has driven the price above previous market levels, it will take even longer to move off of that $1.35 price point. That said...

I'm sure there are at least a few people sitting on multiple billions of Gold that are slowly selling off right now. If one major Gold seller decides to get out of the market in a hurry and drops all their Gold on the market in a short period, then it could start a market panic as all of the other major Gold sellers will try to get out of the market as they see the price drop. There's no telling how low the price could go, though we could probably expect the price to bounce back within a few weeks.

This is why I would've encouraged Blizzard to make the min no more than 500k gold instead of 1 million. At 500k you at least create an emergency market crash floor at 2 million Gold per dollar. 200k increments would be too small since it would create a floor at 800k. The butter zone would be around 300k right now, but that's a really awkward amount to make the minimum so 500k would be the next best option to 1 million.

I like to play Mr. Fancypants around here, but I have no clue as to why the price for Gold has jumped so dramatically. Above, you can see I suggested a price of 700k-740k Gold / Dollar. We're approaching 500k Gold / Dollar. I tried selling gold for the very first time and 2 million sold for $3.52 instantaneously (568k Gold / Dollar) so I can personally verify there is demand at these prices. I'm at a loss for why the price would be going up such a long time after the Patch release. That would seem to imply there are a lot more players playing causing demand to increase, but that's a lot more players for that kind of move.

Any ideas?