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Buying way above the market / asking price?
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Kronenbourg Strasbourg
Viziam
Amarr Empire
#1 - 2014-04-16 02:25:14 UTC
Hi guys... Noob question, but I am a little confused right now!

I just sold an item that was worth a few hundred k on the market and had someone come in and buy it for 2.5m (wayyyy above even the most expensive version listed).... My question is why?! Is there a good reason, or is this just plain stupidity / a big mistake on their part?!

I checked the pilot info and they've been a member for over 2 years, so it's a strange one.

Sorry if it's a dumb question, but I'm a bit baffled as to how / why this would happen.

Thanks in advance! Smile
Sabriz Adoudel
Move along there is nothing here
#2 - 2014-04-16 02:34:42 UTC
They mistyped their buy order.

This happens every now and again, and is why you never, ever, EVER turn off that annoying warning that says "You just entered an order that's 335% above regional average, are you SURE?"

That warning is like a smoke detector - mostly false positives, but very important when you really need it.

I support the New Order and CODE. alliance. www.minerbumping.com
Koniforous
Tauren Transit
#3 - 2014-04-16 02:59:33 UTC
I'm sure it was a mistake, and most often is, but the conspiratist in me thinks people do that to manipulate the regional averages. Am I wrong in thinking this?

TAUTX: Private Bank & Lending

TAUTX: Collateral Liquidation / Discount Items
Far Wanderer
ACGM Acquisitions
#4 - 2014-04-16 03:24:54 UTC  |  Edited by: Far Wanderer
How often are these instances where someone has so much ISK to spare that they just don't care what the price is, or they need something ASAP and don't want to fly to where an item is lowest priced?

I really am wasting my breath though, when you can avoid questions from Hexxx and RAW23 like that you must have some seriously devoted investors. --Elizabeth Norn
Sabriz Adoudel
Move along there is nothing here
#5 - 2014-04-16 04:53:21 UTC
Far Wanderer wrote:
How often are these instances where someone has so much ISK to spare that they just don't care what the price is, or they need something ASAP and don't want to fly to where an item is lowest priced?


That depends on the magnitude of the difference.

I know I have purchased things at overly high prices (pay 1m for a 770k blaster, for instance) to save travel but that's usually pretty obvious.



Koniforous wrote:
I'm sure it was a mistake, and most often is, but the conspiratist in me thinks people do that to manipulate the regional averages. Am I wrong in thinking this?



If you are manipulating regional averages, you are purchasing from your own buy or sell orders, not public ones.

I support the New Order and CODE. alliance. www.minerbumping.com
Koniforous
Tauren Transit
#6 - 2014-04-16 05:17:30 UTC
Sabriz Adoudel wrote:
Far Wanderer wrote:
How often are these instances where someone has so much ISK to spare that they just don't care what the price is, or they need something ASAP and don't want to fly to where an item is lowest priced?


That depends on the magnitude of the difference.

I know I have purchased things at overly high prices (pay 1m for a 770k blaster, for instance) to save travel but that's usually pretty obvious.



Koniforous wrote:
I'm sure it was a mistake, and most often is, but the conspiratist in me thinks people do that to manipulate the regional averages. Am I wrong in thinking this?



If you are manipulating regional averages, you are purchasing from your own buy or sell orders, not public ones.


thanks for clearing that up for me, Sabriz.

TAUTX: Private Bank & Lending

TAUTX: Collateral Liquidation / Discount Items
Kronenbourg Strasbourg
Viziam
Amarr Empire
#7 - 2014-04-16 12:40:42 UTC
Thanks guys - at least that confirmed my suspicions... As a pretty new player, I couldn't help but wonder if there was some darker motive behind it!

Far Wanderer wrote:
How often are these instances where someone has so much ISK to spare that they just don't care what the price is, or they need something ASAP and don't want to fly to where an item is lowest priced?


Well, this still doesn't make sense (to me at least!) because there were several items in the same station, through to a multitude of jumps away, all for a few hundred k ISK, rising up to about a million for the most expensive. Why would anyone (even for convenience / laziness etc) want to pay 10 x more, unless it's a error?!

Thanks again for the replies everyone! Cool
Daniel Plain
Doomheim
#8 - 2014-04-16 13:57:08 UTC
Kronenbourg Strasbourg wrote:
Thanks guys - at least that confirmed my suspicions... As a pretty new player, I couldn't help but wonder if there was some darker motive behind it!

Far Wanderer wrote:
How often are these instances where someone has so much ISK to spare that they just don't care what the price is, or they need something ASAP and don't want to fly to where an item is lowest priced?


Well, this still doesn't make sense (to me at least!) because there were several items in the same station, through to a multitude of jumps away, all for a few hundred k ISK, rising up to about a million for the most expensive. Why would anyone (even for convenience / laziness etc) want to pay 10 x more, unless it's a error?!

Thanks again for the replies everyone! Cool

this may not apply to your case, but imagine you need, say, 1000 of item X and the sell orders are spread between, say, 1m and 2.5m with only one to ten items in each order. the simplest way to get your items is to just set a 2.5m buy order and let the market mechanics buy up all the items for you instead of going through them one by one.

I should buy an Ishtar.