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In-game item value evaluation, is it based on regional average?
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Salpad
Carebears with Attitude
#1 - 2012-08-15 18:48:30 UTC
I've been doing some mining in some Amarr'ish high sec region, far from Jita. I've got a little over 0.5M m3 of mixed ore, but the game interface tells me it's only worth about 80 million ISK.

I have a hunch it's worth more than twice that, refined as minerals, but I can't do perfect refine in this region, and I won't get my Freighter out and AFK-haul the ore away until I'm closer to 0.98M m3 of ore.

What's the game client's basis for estimating the value of items? If it is based on the regional market average, then it'll probably be severely underestimated, because there's not much ore trade going on in this region. So am I on to something here?

Or is it based on the Jita average, in which case my ISK/hour has been pretty poor.


Please note, I'm not asking you to calculate the value of my ore for me. I know how to calculate the value myself. I'm just too lazy to do that, and I'd prefer to find a solution that means nobody has to calculate the value of my ore, through knowing how the game performs its estimation.
WAXER Hinken
Doomheim
#2 - 2012-08-15 19:41:27 UTC
rolling regional calculation. i think its 3 month intervals, like insurance payout
corestwo
Goonfleet Investment Banking
#3 - 2012-08-15 21:02:52 UTC
Three month rolling average of all instances where that item was sold in Eve. It doesn't update regularly, though.

This post was crafted by a member of the GoonSwarm Federation Economic Cabal, the foremost authority on Eve: Online economics and gameplay.

fofofo
Vaerah Vahrokha
Vahrokh Consulting
#4 - 2012-08-15 22:09:25 UTC
Salpad wrote:
I've been doing some mining in some Amarr'ish high sec region, far from Jita. I've got a little over 0.5M m3 of mixed ore, but the game interface tells me it's only worth about 80 million ISK.

I have a hunch it's worth more than twice that, refined as minerals, but I can't do perfect refine in this region, and I won't get my Freighter out and AFK-haul the ore away until I'm closer to 0.98M m3 of ore.

What's the game client's basis for estimating the value of items? If it is based on the regional market average, then it'll probably be severely underestimated, because there's not much ore trade going on in this region. So am I on to something here?

Or is it based on the Jita average, in which case my ISK/hour has been pretty poor.


Please note, I'm not asking you to calculate the value of my ore for me. I know how to calculate the value myself. I'm just too lazy to do that, and I'd prefer to find a solution that means nobody has to calculate the value of my ore, through knowing how the game performs its estimation.


You could use one of the out of game market prices aggregator web sites to get a much better estimate.

For all means and purposes, consider the current in game interface stated value as exclusively a mean to introduce unneded lag in your game.

EvE Online portal | EvE markets tutorials
Tom Hagen
Twilight Empire
#5 - 2012-08-16 13:39:46 UTC
I can't see it is stated in clear text for you, maybe you already know about it but just to be sure I will spell it out for you.

The average value of the item is the value of that item!
You were talking about that the refined value is probably much higher. The value that you get from EvE don't take the mineral value of items into consideration.
It just pull the module/ore value out of the market orders and have nothing to do with the base cost of producing it from the same minerals.

o/
Salpad
Carebears with Attitude
#6 - 2012-08-17 15:46:54 UTC
Tom Hagen wrote:
I can't see it is stated in clear text for you, maybe you already know about it but just to be sure I will spell it out for you.

The average value of the item is the value of that item!
You were talking about that the refined value is probably much higher. The value that you get from EvE don't take the mineral value of items into consideration.
It just pull the module/ore value out of the market orders and have nothing to do with the base cost of producing it from the same minerals.

o/


I know that.

I just wanted to know what kind of average is used.

If I actually wanted to calculate the real value, the easiest method would be to use the refine page, but without clickig "OK", and total up all the minerals, and calculate the value vased on known mineral prices.

But I don't want to do that. I just want to know the degree of wrongness in the estimated ore value.
Rengerel en Distel
#7 - 2012-08-17 15:52:32 UTC
Salpad wrote:
Tom Hagen wrote:
I can't see it is stated in clear text for you, maybe you already know about it but just to be sure I will spell it out for you.

The average value of the item is the value of that item!
You were talking about that the refined value is probably much higher. The value that you get from EvE don't take the mineral value of items into consideration.
It just pull the module/ore value out of the market orders and have nothing to do with the base cost of producing it from the same minerals.

o/


I know that.

I just wanted to know what kind of average is used.

If I actually wanted to calculate the real value, the easiest method would be to use the refine page, but without clickig "OK", and total up all the minerals, and calculate the value vased on known mineral prices.

But I don't want to do that. I just want to know the degree of wrongness in the estimated ore value.


You still appear to be saying you think the value it gives you is based on the mineral value of the ore. It's the value of the ore, not the mineral composition. If you already know that, sorry, but you seem to keep coming back to the minerals.

With the increase in shiptoasting, the Report timer needs to be shortened.
Salpad
Carebears with Attitude
#8 - 2012-08-17 16:01:14 UTC
Okay, I actually had a fairly large pile of just Scordite, which makes it reasonably doable, since it refines to only trit and pyer.

I did a mock refine, totalled up the approximate mineral totals, then I used the EVE Index prices, mineral prices for Jita, to calculate the expeced mineral value, and compared that to the in-game interface estimated ore value.

The ore value was a little under 40 million ISK, according to the interface, but the mineral value totalled to 68 million ISK, so currently to find the real ore price, take the estimated ore price, and multiply by 1.75. Real price is not quite double the estimated price, but close.

Note that how well this method works depends on when. Ore/mineral trading is probably out of whack now, because of the Barge/Exhumer changes, but will hopefully stabilize in a few months. It may also depend on where; I'm not sure the game uses universe-wide average prices. But once I use my Freighter to haul the ore to Jita (about 20-25 jumps, and I'll have 2 almost full loads - probably have that in less than a week) I'll do a compare between the estimated value in the current region, and in the region Jita is in.
Salpad
Carebears with Attitude
#9 - 2012-08-17 16:03:41 UTC
Rengerel en Distel wrote:
You still appear to be saying you think the value it gives you is based on the mineral value of the ore. It's the value of the ore, not the mineral composition. If you already know that, sorry, but you seem to keep coming back to the minerals.


I care about how good a tool the in-game value estimate is, in terms of measuring how much wealth I'm actually accumulating via these semi-AFK Mackinaw roid-sucking trips.

It's pretty obvious that the term "******" is more appropriate than the term "good", but I still care about the degree of shittiness. nd since I'm not going to sell the ore, but will instead haul it to somewhere where I have perfect refine, it's ultimately about the minerals for me. And the degree of shittiness is exactly the difference between the estimated ore value, and the final sold-minerals value.
Sarton Wells
The Scope
Gallente Federation
#10 - 2012-08-17 18:04:37 UTC
Salpad wrote:
The ore value was a little under 40 million ISK, according to the interface, but the mineral value totalled to 68 million ISK, so currently to find the real ore price, take the estimated ore price, and multiply by 1.75. Real price is not quite double the estimated price, but close.


Indeed my experience with ore is similar. When it comes to mission loot it's actually more like .75 of the ui value.
Salpad
Carebears with Attitude
#11 - 2012-08-18 19:03:17 UTC
Sarton Wells wrote:
Salpad wrote:
The ore value was a little under 40 million ISK, according to the interface, but the mineral value totalled to 68 million ISK, so currently to find the real ore price, take the estimated ore price, and multiply by 1.75. Real price is not quite double the estimated price, but close.


Indeed my experience with ore is similar. When it comes to mission loot it's actually more like .75 of the ui value.


Cool. Thanks for the data point!

(And for everyone listening in who's not market-savvy: Keep in mind that both of these data points are subject to change. They're valid now. Not in 2013!)