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Four interesting observations about the Magtheridon opening:
I was cash-heavy on the day of the patch, so I could watch other servers and take advantage of fluctuations before our badge vendor opened. I stocked up on meta gems, leg enchants and certain primals.
1. Our market went wild a few days BEFORE the vendor opened.
I started listing items only when there was no competition, and found that people were willing to pay a huge premium. Most of my stockpiled items sold quickly at 50% over market prices.
2. Prices stabilized AFTER the vendor opened.
Items that were expected to spike saw large inflows of supply. This kept prices stable.
I can only imagine that demand grew as the vendor release approached, but few sellers responded to the spike in demand. After the vendor opened, undercutting brought prices down to a more normal level.
3. I also saw plenty "panic undercutting" where people undercut by 10G when only 1S would have been enough. Others have commented on this trend. I interpret this as a large number of amateurs in the market.
4. Despite expectations, certain blue-quality gem cuts did not decline in price. However, the cost of uncut gems dropped.
For example, selling price for Delicate Living Ruby (+8 agility) stayed steady at 75G. However, the price for uncut Living Rubies dropped from 65G to 50G.
I think that some people were dumping stockpiled gems, while simultaneously the demand for MOST gem cuts tanked.
This trend began the week before the vendor opened, and stabilized about 24 hours after the open.
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