RuneScape Forum Archive | Rare inflation

Kehl

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I Jonyfrecle said :
Kehl said :
Raphtalia6 said :
what i find problematic is that an ingame item is getting a real life price. it worries me that players who play this game have to sell a car in real life to buy a paper hat in a game. this sounds a bit dramatic but the average person cant affort that. so people either pvm or give it a go at the duel arena but at the duel arena people get addicted to gambling their money to gain more money which ultimately leaves them with nothing left, thats when they buy gold and try again. but logicly you lose more money from the duel arena compared to just buying the partyhat right away for the car. even tho both options are rather immature. people tend to choose the worst of the 2 and go to the duel arena and get addicted and lose billions.

I just wonder if its all worth it for that paper hat. ive had a few and ive decided that flipping them was worth it more than keeping it. but with the prices right now im surprised people still buy these things. 25-30b for a blue? sure. 27-31b for a yellow... idk.. 36b for a purple.. lool..

i just think people who buy a partyhat now have to really rethink about what they are about to buy and the price that comes with it.

Lmao real life partyhat costs are cheap af and rookie numbers compared to other discontinued items similar in age for young professional millennials that can afford to relive their childhoods. Just look at the original yu-gi-oh and Pokémon cards nowadays.

It doesn't make sense to compare party hats with trading cards. The rare trading cards are a real world commodity which are bought and sold like other vintage things like cars,. They are a physical item and and will continue to have real world value for as long as people have an interest in collecting them, which could be centuries. A party hat is a few 0s and 1s in th [/quote][/quote]

17-Dec-2020 15:25:44

Kehl

Posts: 331 Silver Posts by user Forum Profile RuneMetrics Profile

Lmao ok let’s compare apples to apples then. Let’s compare with some of the most expensive items in other video games of similar nature.

Zeuzo in World of Warcraft fetched $9,500.
Echoing fury mace in Diablo hit $14,000.
Ethereal Flames Pink War Dog in Dota hit $38,000

17-Dec-2020 15:29:09 - Last edited on 17-Dec-2020 15:31:55 by Kehl

Kehl

Posts: 331 Silver Posts by user Forum Profile RuneMetrics Profile

Also near the end of 2019 there were approximately 618,000 millennial millionaires in just the US alone. I’m sure there are at least some millennial millionaires that have already retired and play video games.

17-Dec-2020 15:36:36

I Jonyfrecle

Posts: 3,702 Adamant Posts by user Forum Profile RuneMetrics Profile

Kehl said :
Lmao ok let’s compare apples to apples then. Let’s compare with some of the most expensive items in other video games of similar nature.

Zeuzo in World of Warcraft fetched $9,500.
Echoing fury mace in Diablo hit $14,000.
Ethereal Flames Pink War Dog in Dota hit $38,000

I agree that comparing RS rares value with other items from other video games is definitely a better way of gauging what is considered expensive for an item within the video gaming community, than to compare them with real tangible things outside of video games

But we are starting to go down a rabbit hole of what people consider expensive and what people choose to spend their IRL money on. What we are trying to figure out here, is why there has been a sudden inflation this year, and I think we can agree that the sudden inflation this year is not attributed to a sudden influx of rich millennials into Runescape.

EDIT* However, to be fair. This could be a perfectly legitimate theory. I would see more merit in this than the duel arena theory.

17-Dec-2020 17:06:52 - Last edited on 17-Dec-2020 17:12:53 by I Jonyfrecle

Kehl

Posts: 331 Silver Posts by user Forum Profile RuneMetrics Profile

I Jonyfrecle said :
Kehl said :
Lmao ok let’s compare apples to apples then. Let’s compare with some of the most expensive items in other video games of similar nature.

Zeuzo in World of Warcraft fetched $9,500.
Echoing fury mace in Diablo hit $14,000.
Ethereal Flames Pink War Dog in Dota hit $38,000

I agree that comparing RS rares value with other items from other video games is definitely a better way of gauging what is considered expensive for an item within the video gaming community, than to compare them with real tangible things outside of video games

But we are starting to go down a rabbit hole of what people consider expensive and what people choose to spend their IRL money on. What we are trying to figure out here, is why there has been a sudden inflation this year, and I think we can agree that the sudden inflation this year is not attributed to a sudden influx of rich millennials into Runescape.

EDIT* However, to be fair. This could be a perfectly legitimate theory. I would see more merit in this than the duel arena theory.

As the aging boomer population is decreasing, inter generational wealth gets passed down the line shifting more money in the hands of millennials over time. Millennials are the big spenders for games because this is what this generation actually grew up with. It doesn’t surprise me that we are reaching this point. Millennials only recently surpassed baby boomers as being the largest population group in the nation in late 2019. It could also explain why we aren’t getting general inflation on all items and it’s only impacting rares while bonds remained the same price. If they have enough money inherited, they could just buy bonds legitimately with irl cash to avoid risk of being banned while shifting all that GP towards discontinued stock in rares only.

Covid’s impact on the boomer population just expedites this process.

17-Dec-2020 17:30:39 - Last edited on 17-Dec-2020 17:35:59 by Kehl

Nov

2014

SoulSplits

Posts: 4,615 Adamant Posts by user Forum Profile RuneMetrics Profile

Kehl said :

As the aging boomer population is decreasing, inter generational wealth gets passed down the line shifting more money in the hands of millennials over time. Millennials are the big spenders for games because this is what this generation actually grew up with. It doesn’t surprise me that we are reaching this point. Millennials only recently surpassed baby boomers as being the largest population group in the nation in late 2019. It could also explain why we aren’t getting general inflation on all items and it’s only impacting rares while bonds remained the same price. If they have enough money inherited, they could just buy bonds legitimately with irl cash to avoid risk of being banned while shifting all that GP towards discontinued stock in rares only.

Covid’s impact on the boomer population just expedites this process.
This has to be one of the weirdest takes on rares that I've read.

Are you trying to say that rares have been rising because millennials are inheriting money from their parents dying of Covid? So because of covid there's now a wave of millennials with inherited money that want to funnel it all into partyhats on Runescape 3?

What about the millions of people that lost their job due to covid and are living off unemployment? Or young entrepreneurs that had to shut down their business. Or recent grads / people in graduate school that have to worry about tuition and student loans? I'm just failing to see how covid "expedites this process" or what you even mean by that. Are you saying it expedited killing parents so their kids are inheriting sooner? All covid did was make more people play, which certainly could have had an impact on rares, but it has absolutely nothing to do with inheritance. I really hope I'm just interpreting this wrong. Because to me it sounds like you are saying people's parents are dieing from covid and they are taking their inheritance to buy partyhats during a 100 year pandemic.

17-Dec-2020 19:40:53

Kehl

Posts: 331 Silver Posts by user Forum Profile RuneMetrics Profile

SoulSplits said :
Kehl said :

As the aging boomer population is decreasing, inter generational wealth gets passed down the line shifting more money in the hands of millennials over time. Millennials are the big spenders for games because this is what this generation actually grew up with. It doesn’t surprise me that we are reaching this point. Millennials only recently surpassed baby boomers as being the largest population group in the nation in late 2019. It could also explain why we aren’t getting general inflation on all items and it’s only impacting rares while bonds remained the same price. If they have enough money inherited, they could just buy bonds legitimately with irl cash to avoid risk of being banned while shifting all that GP towards discontinued stock in rares only.

Covid’s impact on the boomer population just expedites this process.
This has to be one of the weirdest takes on rares that I've read.

Are you trying to say that rares have been rising because millennials are inheriting money from their parents dying of Covid? So because of covid there's now a wave of millennials with inherited money that want to funnel it all into partyhats on Runescape 3?

What about the millions of people that lost their job due to covid and are living off unemployment? Or young entrepreneurs that had to shut down their business. Or recent grads / people in graduate school that have to worry about tuition and student loans? I'm just failing to see how covid "expedites this process" or what you even mean by that. Are you saying it expedited killing parents so their kids are inheriting sooner? All covid did was make more people play, which certainly could have had an impact on rares, but it has absolutely nothing to do with inheritance. I really hope I'm just interpreting this wrong. Because to me it sounds like you are saying people's parents are dieing from covid and they are taking their [/quote]

17-Dec-2020 20:05:05

Kehl

Posts: 331 Silver Posts by user Forum Profile RuneMetrics Profile

You’re interpreting this completely wrong. I mean no disrespect whatsoever to those affected by Covid.

I mentioned the millennial population surpassing the baby boomer population in 2019, before Covid. I also mention that the millennial millionaire population is approximately 618,000, before Covid, and this population is actually growing wealthier because more millennials are growing in their careers, inheritance or not. This shows a steady growth in discontinued rares is normal over time as their main target audience is growing wealthier. As for the sudden spike, I have no explanation. I thought about selling off my real life stocks as well back when Covid first hit because I thought about those exact same things yet the stock market is booming. You also have to understand that the wealth gap is growing too (Bezos for example). Stocks are better in the hands of a few rather than being in the hands of many. (like when people are forced to sell off stocks and/or rares in order to afford other real life necessities, it creates investing opportunities for those on top).

Inter generational wealth is a real thing, but I don’t think it is the sole source for a sudden surge. It just reduced the baby boomer population faster thus shifting more wealth in the hands of gen X and millennials. This is likely not the only reason for the sudden surge, but it’s another contributing factor of wealth shift. Just like the increase of players being another contributing factor or the shift to remote work. You have to consider multiple influences rather than just one single cause.

It’s not an ultimatum of one factor vs another but rather a combination of factors.

17-Dec-2020 20:11:34 - Last edited on 17-Dec-2020 21:07:13 by Kehl

I Jonyfrecle

Posts: 3,702 Adamant Posts by user Forum Profile RuneMetrics Profile

Kehl said :
You’re interpreting this completely wrong. I mean no disrespect whatsoever to those affected by Covid.

I mentioned the millennial population surpassing the baby boomer population in 2019, before Covid. I also mention that the millennial millionaire population is approximately 618,000, before Covid, and this population is actually growing wealthier because more millennials are growing in their careers, inheritance or not. This shows a steady growth in discontinued rares is normal over time as their main target audience is growing wealthier. As for the sudden spike, I have no explanation.

I'm sorry but correlation does not necessarily mean causation . Just because the younger generation is getting richer at the same time as discontinued items in an online game are going up in value, does not mean they're connected.

I do however agree that the ageing population of the game could lead to an increase in online gold purchases, as players have the financial means to buy themselves gold once they start working, which they may not have had when they played as a child.

But to say that rares have been going up over the years because millenials are becoming rich through their own means or through inheritance, in my opinion is false.

The post is about the spike this year. It is something that happened as a result of a recent change. The more I think about it and watch the "Price Checking" threads, and after visiting the duel arena, the more I think it is a result of price manipulation, staking and or duping.

17-Dec-2020 23:31:30

Kehl

Posts: 331 Silver Posts by user Forum Profile RuneMetrics Profile

Of course it’s not the sole source. Literally like what I’ve already been saying, “ It’s not an ultimatum of one factor vs another but rather a combination of factors.” This same concept applies to rares rising over time too. Other major factors include GP entering the game and the ever decreasing supply of discontinued items. Jagex keeps hitting record breaking profits through micro transactions more recently because their target audience is actually at the working age now compared to being unemployed using only allowances as a kid when this game first came out.

The spike this year is likely a result of archaeology release bringing veteran players back, staking, price manipulation, duping, lack of updates, increased generational wealth, Steam release, and Covid altogether. It was almost like a perfect blend of events occurring within a short period of time to create a new sense of strength in market psychology with one rise after another creating a FOMO snowball effect in the end. I don’t think you should rule out Covid yet. Ever since the outbreak, there has been nothing else to do and more people are staying inside than ever before increasing the average player count. The remote work shift also allows people to play at home extending longer average daily playtimes that could affect GP intake levels.

18-Dec-2020 00:06:39 - Last edited on 18-Dec-2020 00:52:21 by Kehl

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Rare inflation