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Question for the Eve Market Vets
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Heimdallofasgard
Ministry of Furious Retribution
Insidious.
#1 - 2012-05-23 12:22:34 UTC
Okay so, I'm looking at sell orders (in the market details tab) for some salvage in Amarr

There are a few sell orders with 1 unit volume, and a very high unit price (+1000% or so)

To try and remove this sell order from the market, someone has to buy it.

So why is it, that when I buy this overpriced unit of salvage... it stays on the market?

1 unit, same price, same location, same time till expiry on the order?

is this a bug or a bot managing to setup sell orders at really specific times?
Orion Wyvernbane
Federal Defense Union
Gallente Federation
#2 - 2012-05-23 12:37:22 UTC
You don't really buy an order. Instead you pay a price at a station. The lowest sell order in that station gets your money.
OllieNorth
Recidivists Incorporated
#3 - 2012-05-23 12:38:03 UTC
This is one of my favorites.

When you place a buy order, no matter what the price, you buy the lowest sell order.

In other words, if there are 300 dinglehoppers listed at 100 isk p/u and 1 listed at 1,000,000 isk p/u and you right click the 1,000,000 isk one to buy it, you end up actually paying the guy who has his dinglehopper listed at 100 isk your whole 1,000,000 isk.

When you buy an item, you are effectively giving your ISK to a broker and telling him "I have this much ISK, find me a dinglehopper at this price". That broker will then go find the cheapest dinglehopper he can up to that price and buy it for you, pocketing the change.

If you want to clear that item out, you will have to buy up the whole market to get there. You are basically making someone a huge return.
Heimdallofasgard
Ministry of Furious Retribution
Insidious.
#4 - 2012-05-23 12:44:20 UTC
OllieNorth wrote:
This is one of my favorites.

When you place a buy order, no matter what the price, you buy the lowest sell order.

In other words, if there are 300 dinglehoppers listed at 100 isk p/u and 1 listed at 1,000,000 isk p/u and you right click the 1,000,000 isk one to buy it, you end up actually paying the guy who has his dinglehopper listed at 100 isk your whole 1,000,000 isk.

When you buy an item, you are effectively giving your ISK to a broker and telling him "I have this much ISK, find me a dinglehopper at this price". That broker will then go find the cheapest dinglehopper he can up to that price and buy it for you, pocketing the change.

If you want to clear that item out, you will have to buy up the whole market to get there. You are basically making someone a huge return.


Ahhh okay I see, so how do people setup these orders then as a broker? or do you just have to setup multiple orders?
OllieNorth
Recidivists Incorporated
#5 - 2012-05-23 12:48:03 UTC
The broker I was speaking of is actually an NPC service through the game. It is a pretty serious ISK sink, the broker fees.
Pinstar Colton
Sweet Asteroid Acres
#6 - 2012-05-23 12:50:03 UTC  |  Edited by: Pinstar Colton
OllieNorth wrote:
This is one of my favorites.

When you place a buy order, no matter what the price, you buy the lowest sell order.

In other words, if there are 300 dinglehoppers listed at 100 isk p/u and 1 listed at 1,000,000 isk p/u and you right click the 1,000,000 isk one to buy it, you end up actually paying the guy who has his dinglehopper listed at 100 isk your whole 1,000,000 isk.

When you buy an item, you are effectively giving your ISK to a broker and telling him "I have this much ISK, find me a dinglehopper at this price". That broker will then go find the cheapest dinglehopper he can up to that price and buy it for you, pocketing the change.

If you want to clear that item out, you will have to buy up the whole market to get there. You are basically making someone a huge return.


Close

The broker doesn't pocket the change. The extra you over-paid goes to the seller of the item. If you've ever put a stack of items up for, say, 50 isk/unit and you see your transactions

Derp bought 255 units at 50 isk
Derpette bought 500 units at 50 isk
Derpy bought 50 units at 55 isk

Even though your sell order was a stack of units for all the same price, "Derpy" overpaid for her 50 units and you got the extra.

I tend to see this happen if my sell order is a much smaller volume sitting in front of a high-volume sell order. Someone wanting to buy in bulk just buys a ton from the sell order behind mine at that price...but my units get sold first until my order runs out. Because they are paying the higher price of the sell order behind me, I get paid at that price, rather than the price I set.

Likewise, if you put out a buy order for 50 isk/unit and you didn't notice someone has a sell order for 49 isk/unit, part of your buy order will be filled as soon as you place it, but the seller will get paid at 50/unit. This can easily happen if you place a buy order with a range of several jumps and don't notice a low-ball sell order in one of the systems within range.

In the cat-and-mouse game that is low sec, there is no shame in learning to be a better mouse.

OllieNorth
Recidivists Incorporated
#7 - 2012-05-23 12:54:59 UTC
You are correct, sorry. The seller gets the change.
Heimdallofasgard
Ministry of Furious Retribution
Insidious.
#8 - 2012-05-23 12:55:14 UTC
OllieNorth wrote:
The broker I was speaking of is actually an NPC service through the game. It is a pretty serious ISK sink, the broker fees.


Ahhhh I get you now. so when it comes up "You bought stuff from x"

x never changes until their lowest price order is filled? you're not actually buying from that person?
OllieNorth
Recidivists Incorporated
#9 - 2012-05-23 13:03:35 UTC
Not really. No matter which order you click on to buy, you are always buying from the lowest.
Rhivre
TarNec
Invisible Exchequer
#10 - 2012-05-23 13:18:04 UTC  |  Edited by: Rhivre
Think of it this way:

You are telling the broker "I will pay X for this item"

The broker goes to the market, and gives X isk to whoever has the cheapest order.

So, if I list a rifter at 400k, and someone lists one at 100m, and you right click buy the 100m rifter, you are telling the broker "Get me a rifter for 100m"

The broker pays me (if I have the lowest order) 100m for my rifter, regardless of what my price was.

Sometimes people do this on purpose, to buy up stacks, if there are say, 5 stacks of trit, 1.2m, 2.4m, 5m and 15m, and I want 23.6m trit, I can either choose the highest order and enter 23.6m, and overpay slightly for the others, or go through each stack typing in the amount., so rather than enter 4 orders, I will just buy from all of them.

You can also do this say, if you are doing a regional buy order, and want to clear the low priced items off the market, setting up a buy order for say, 1mn AB at X, will clear everything off the market below X, at the price you have set.

(EDIT: you can also do this to bork the market graph, but thats a different matter)

Fluffy Bunny Pic!

Heimdallofasgard
Ministry of Furious Retribution
Insidious.
#11 - 2012-05-23 13:19:18 UTC
OllieNorth wrote:
Not really. No matter which order you click on to buy, you are always buying from the lowest.


Okay I got it :)