I noticed that Jagex is keeping the 5% price change for the guide price in the GE. I'd like to know the logic behind why this is being kept, as the root cause for the community's frustration with merchant clans manipulating the GE prices with their pyramid schemes [read scams] is that they use the relatively fixed price changes to their own advantage.
Not only that, but the GE can't cope with massive price fluctuations. If a new item is released, it'd take weeks to go up or down to the price on the street.
This is bad for the economy and will only keep merchant clans (and everyone's frustration with them) manipulating prices.
If you have no buy or sell restrictions, the only way to get an accurate price is to average all transactions. Restricting how fast an item can rise and fall in price on the GE is what merchant clans manipulate. They can't manipulate an average of all transactions from the previous day, but they can if they know that it's only going to fall 5%.
I hope it is removed and an average (as it should be) of all the previous day's sales becomes the guide prices for items. This means that people will actually use the GE so that prices will be accurate, since Jagex can't discern prices from trades between players (at least not with multiple items, bartering, etc.).
If that 5% change per day stays, the GE price will be just what it is now, an inaccurate price, the price checker will be useless, the GE database on the website will be pointless, shop prices will be distorted, coin/lootshare will be wrong, and people will stop using it for all but bulk items. Then it'll be useless and we'll all have to spend tons of time, and getting carpel tunnel in the process, back at W2 to buy everything.
The GE was Jagex's best potential update ever. It saved the community a ton of time and frustration. Please remove all restrictions, as a free market should be, on how prices are calculated and make the Guide Price and average of all the previous day's sales.
22-Jan-2011 14:58:50