Modify ABP Add LSP

Would this be helpful for you?

Yes!	100.0%	[ 10 ]
Total Votes:			[ 10 ]

[Shisei Tenshi]

Issue 1: ABP is misleading
When I look at the marketboard two numbers jump out at me the Current Sale Price and the Average Buy Price (or ABP). The sale price is what you will need to pay to purchase the item right away, while the ABP is calculated based upon the number of items that have sold and the overall income of all the sales.

Every gold made on selling the item / total number of item sold over lifetime = ABP

This number is usually lower than the current listed price and is confusing for people when they want to purchase or sell items. To me this is deceiving because ABP should be what the majority of the people paid or are willing to pay for item according to last sales. So if someone buys an item for 15k and then resells it for 60k then the ABP becomes 37k which is not the price either person paid for the item.

This number does not accurately reflect the price people are currently buying the item for or the price people are successfully selling the item at. This is a middle ground price between the highest and lowest sale basically which means if you post item at that price you will be overchanging or underpaid because it is not the correct sale price.


Issue 2: ABP is listed in notifications not Current Sale Price
ABP also incorrectly shows in notifications that the item is available for sale. When notification comes to my gaia page it reflects the ABP not the current market listing which is confusing as well. When notifications are sent out they should reflect the current listing of the item and what the item previously sold for at the time of the notification. This is currently done with Monthly Collectables with message such as Item M just sold for 10m gold on marketboard. It would be wonderful if this could be done on other items too.


Issue 3: Add LSP *edited*
Previously I suggested taking out the ABP since it is deceiving and does not reflect the actual price people are buying items for, but it seems most people like this feature so instead of taking it away I suggest adding in the Last Sale Price (or LSP) somewhere on the item detail page. LSP will tell the potential buyer or seller how much the item previously sold for to determine what a fair price would be. As suggested below a date from which the item was sold would also be helpful included with the price and possibly have a sales history to show how many of the item sold within a set time frame (recent like a month or less) and what price each item sold for to show what the actual average sale price is (what the majority of the people really paid for the item).

Consider the following scenario:

Item X is not longer available to purchase by any means other than from another member on Gaia via the Marketboards.
Item X current sale price is 150,000g
Item X has an ABP of 75,000g
The last time item X was sold, it was bought for 60,000g, which is below the ABP and Current Sale Price.

If price is based upon the ABP then the buyer would be overcharged by 15k in above situation and many times more if bought with the current price. Last Sale Price would better help to get an idea of what people are willing to pay for the item based on availability and popularity. This would also help prevent people being overcharged for items like in above situation.

[~ Aki - Fairy ~]

Personally I like knowing the ABP of an item and hope they don't remove it. I wouldn't be opposed to the addition of a last sold price on the item's page though, but I would want the date of that sale as well (it's not something I'd want in the little screen when you're selling, just because there's enough else already going on there)

[edokitty]

"This number is usually lower than the current listed price and is confusing for people when they want to purchase or sell items."

How is this confusing? If the price is listed higher than average buy price, you know you would be paying more than average. Example.

Store Price: Not available in stores

Lowest Buy Now Price: 21,000,000 gold

Average Buy Price: 20,552,200 gold 0%

ABP is about 20.5M. Lowest is 21M. I can easily sell my heart charms for 20M. I often buy charms listed under 19M and resell them for a small profit.

"My suggestion is to remove the ABP from the market listing and add instead Last Sale Price (or LSP). LSP will tell the potential buyer or seller how much the item previously sold for to determine what a fair price would be. "

Fair price to me is anything at ABP or lower. What about items not sold in stores that are listed much higher than average buy price. Is that the fair price because it is the lowest on the MP?
Another example.

green ink

Lowest Buy Now Price: 15,500,000 gold

Average Buy Price: 16,181,900 gold 0%

Currently you could buy green ink for less than average. What happens when all of those inks are purchased and the lowest is 17M? Is 17M now the fair price? I like knowing the ABP for buying and selling.

Where is the no option on your poll?

[The stepfather of lies]

LSP

Greedy gaian list an item for a high price and then buys it with their mules :/ bad idea. There are already people who AI's the ABP by buying all the reasonable priced items and then place them for a higher price and buy them with their mules, at least being pondered over the number of sales the ABP is more difficult to raise then your proposed idea.

[Shisei Tenshi]

edokitty

~ Aki - Fairy ~

The stepfather of lies

@Edokitty: ABP is fine for items that actually sell for that price or below, but the items I'm referring to are ones that are listed as 4 times or more the average buy price. It seems an inaccurate way to determine what a good price is because people will post the item super high and the ABP is far lower so even if I went in the middle I'd still risk people buying and posting it up again at the higher price. If I post at the price it's currently going for I get people pming me asking for a lower price and I have no way to determine if their offer is fair in comparison to what the item previous sold for.

@Aki: A date of the last sale would be helpful as well as the price. Maybe it can be on the page when you click the item and it shows an over all description along with how many items are for sale before you pick the one you want to buy?

@Step: Maybe they could have a graph or chart showing the price of sales over a certain time frame (not like the life of item but something recent like last month or so). That way you can tell if several users are buying in that price range or just one that is trying to inflate the market.

I'm going to divide the above post up into 3 parts since I'm addressing a few different issues.

The first issue is the ABP which is very deceiving for me but it seems to work for other people so the popular vote seems people want it to stay. I don't really see it helping me since the items I buy are never priced anywhere near the ABP.

Next is the incorrect showing to the ABP instead of the actual market price in the notifications sent to me from my wishlist items.

Last will be for the adding of the LSP including a date of the last sale and price the item sold for to help give a better idea of what the item is actually selling for.