Yew Sheep Pen / Guard-Line Patio!

[Apoc]

Some people just don't seem to get it DOH

[Boondock_Saint]

1 small deed

[Apoc]

try again

[Wonder]

2 small deeds?

[Apoc]

2 small deeds?

....no

[morgan1109]

He does have a point Apoc. It is coming up on 3 weeks with no starting bid. If you lowered the bid you could get a bidding war going and maybe get something north of a Mil, but I’m guessing not much more. The key word is guessing in that sentence, heh heh.

Auctioneers use that trick all the time. They start at a lower bid, just to get the ball rolling. Once they’ve got the buyers identified, they start jacking it up and working the buyers until only one person is standing. Nobody would jump in at $100 for the vase, so he drops the bid to $25 and low and behold he ends up getting $125 for it. It’s harder on this platform, because you can’t use body language and the gift of sound manipulation to encourage people to keep bidding. It’s your best bet, and hope a couple deep pockets will go at it.

I know what I want to own that property for, but it's south of 2 million. So I'm not bidding yet.

[Apoc]

He does have a point Apoc. It is coming up on 3 weeks with no starting bid. If you lowered the bid you could get a bidding war going and maybe get something north of a Mil, but I’m guessing not much more. The key word is guessing in that sentence, heh heh.

Auctioneers use that trick all the time. They start at a lower bid, just to get the ball rolling. Once they’ve got the buyers identified, they start jacking it up and working the buyers until only one person is standing. Nobody would jump in at $100 for the vase, so he drops the bid to $25 and low and behold he ends up getting $125 for it. It’s harder on this platform, because you can’t use body language and the gift of sound manipulation to encourage people to keep bidding. It’s your best bet, and hope a couple deep pockets will go at it.

I know what I want to own that property for, but it's south of 2 million. So I'm not bidding yet.

heh you will understand why i put starting bid at that price if you check the previous sale of this house i paid more than 2mill ^^ if it doesnt sell i will hold it or something...

[morgan1109]

In order for something to be worth 2 mil, then two other people need to think its worth 2 mil in an auction setting and be willing to pay it. 3 weeks with no starting bid is basically telling you it isn't worth 2 mil. The active players have all seen it by now. They are either waiting for someone to start it, or they are waiting for the price to be reduced before jumping in.

I'm sorry, but the market makes the price. The price you paid for it has little relevance after the sale is completed. Properties can go up and down wildly. properties have a bottom cap (deed price), but no top cap. The low server population is killing housing prices. people have trouble selling towers for deed + small. You've definitely got some additional built in equity with the location, but not 1.8 mil of location premium.

[Apoc]

In order for something to be worth 2 mil, then two other people need to think its worth 2 mil in an auction setting and be willing to pay it. 3 weeks with no starting bid is basically telling you it isn't worth 2 mil. The active players have all seen it by now. They are either waiting for someone to start it, or they are waiting for the price to be reduced before jumping in.

I'm sorry, but the market makes the price. The price you paid for it has little relevance after the sale is completed. Properties can go up and down wildly. properties have a bottom cap (deed price), but no top cap. The low server population is killing housing prices. people have trouble selling towers for deed + small. You've definitely got some additional built in equity with the location, but not 1.8 mil of location premium.

shhh

[Apoc]

You talk as if i've just started playing here or never seen the server go up n down as well as the market regardless of whatever you think this house is infact worth more than 2mill, anyway thank you have a nice day....

[Drunk'n Disorder]

In order for something to be worth 2 mil, then two other people need to think its worth 2 mil in an auction setting and be willing to pay it. 3 weeks with no starting bid is basically telling you it isn't worth 2 mil. The active players have all seen it by now. They are either waiting for someone to start it, or they are waiting for the price to be reduced before jumping in.

I'm sorry, but the market makes the price. The price you paid for it has little relevance after the sale is completed. Properties can go up and down wildly. properties have a bottom cap (deed price), but no top cap. The low server population is killing housing prices. people have trouble selling towers for deed + small. You've definitely got some additional built in equity with the location, but not 1.8 mil of location premium.

High dollar real estate sits on the market for extended periods of time. The fact that no one has bid in 3 weeks doesn't necessarily mean it's not worth what he wants. Also "the market makes the price" is only true to a certain extent. I keep telling you people that in order for a price to be set, it has to be agreed upon by both parties (buyer AND seller). If he doesn't see the price he wants, he keeps it. The fact that a tower in the middle of the map doesn't sell for a deed + Small is irrelevant to this sale. Thanks.

[Capitalist]

bump

[Storx]

i bid my friendship

[DKS]

Deed+all the wool I sheer forever

[Treysta]

In order for something to be worth 2 mil, then two other people need to think its worth 2 mil in an auction setting and be willing to pay it.

It takes only the seller to set a unique property's worth. You're thinking of price.

The worth of this property is indeed 2x castles--simply because that's the lowest amount the seller will take and there are no comparable properties. Since he owns it and he values it at 2x castles, that's its worth. You may value it at 1x castle, but since you don't have the option of setting an asking price for the object you don't get to determine its worth. If the seller wants to raise the asking price to 3x castles, then the property is worth 3x castles.

The price you paid for it has little relevance after the sale is completed.

The value of this property is 2x castles. The value of this property is also 1x castle, and it is also 1x patio deed, and it is also 1 gold.

As a prospective buyer, one does get to set the value of something just like the seller does. The value of something is totally dependent on how much that something is desired, or what types of uses it might have, or one of many other number of other factors. One of these factors is the historical price point of the property or similar properties. The amount of relevance that historical sales has is based off of personal opinion, like many of the other factors we use to determine value. I personally believe that historical sales have more than a "little" relevance on future value when properly weighed against current market trends.

Value may not not arbitrary, but is is indeed personal, especially for high-end or otherwise rare objects/properties/services like the house in this thread.