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AetiusAetius is offline
 
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Default Trading and Haggling for Noobs

I'll format this later.




Be it that you want to become a merchant, get new armor, or sell off your goods, you will eventually need to learn how to trade. We are all from Western societies where we have grown accustomed to buying things for fixed goods and we have never been trained to sell things. What makes it worse is that we have no clue how to buy things for a price that we feel comfortable with, thus allowing the seller to have his way with your pockets. I'm not here to tell you what the prices are - you can determine these for yourself - I'm only telling you how to get a good deal. Of course, you can always go with the posted price, but wouldn't you like some extra coins lining your bank vault?

The first thing in trading is to know the value of the product. This doesn't mean you have to look up a price guide; I'm saying that you need to know what the product means to you. Can you get it on your own? Can you get it elsewhere? Is obtaining it a simple process? Are you willing to get it on your own? Can it wait? If you've answered "no" to any of these questions, then it is imperative that you understand that you have lost your leverage and given it to the other trader. When you have no other options, he has you in his pocket (or, rather, his hand in yours) and can charge whatever he likes. The key here is to not let him know how valuable it is to you while making the gold you can trade more valuable to him. If your gold is valuable to him, then you will be able to get off with less money changing hands (if he places a large value on it, then he will receive more satisfaction from smaller amounts) and this is obviously your goal. Try to not make it known how much you are worth; status symbols are nice, but everyone will know that you have a lot of leeway with your bank.

The key to any transaction is to try to meet in the middle or meet low. If you want to sell* at a higher than average price and if he wants to buy at the average price, make an offer that is just over the line of unreasonable (your maximum selling point.) When he makes a counteroffer, you will counter this by lowering your price to the halfway point between your maximum selling point and your minimum selling point. If he makes a counteroffer and increases his price, do not budge - tell him that you'd rather not sell it for any less. If he does not budge, then drop down to your minimum selling point. If this does not work, however, you must then find another buyer. You must also move on if he refuses to settle - there's no point in getting involved with someone who doesn't see to your eye.

This is key when you are buying and selling commodities in bulk, where small differences can net large changes in the end. Another thing to consider is that, when buying or selling in bulk, the seller should do so at a reduced price. As with the real world, it is best to settle for a lower price if you have a guarantee of business rather than settle at the normal price without a guarantee of business. This helps to earn regular customers; if you are reliable, then you can count on others to come to you.

*The inverse also applies with buying, so just switch maximum with minimum and buying with selling.




Forgive this guide for being rather short. I will update it as new things come to mind.



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AkenatanAkenatan is offline
 
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Originally Posted by Aetius View Post
Forgive this guide for being rather short. I will update it as new things come to mind.
Rather short? I think it's an excellent guide you covered a lot.


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It looks short to me because I don't have any pictures, numbers, or examples. I can't really be bothered to get any, though; I doubt I'll play the game given all the free time I wish I had.



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Nobody posts here...



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Pking DuckPking Duck is offline
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begging is more efficient

#wager
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Originally Posted by Pking Duck View Post
begging is more efficient

#wager
Dance 4 gp

receive gp



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I hate trading... I usually just get everything I need by myself, no matter how long it takes. But that's just me. Anyway, good guide nonetheless.
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Thanks for the guide, I usually struggle trading due to the time it takes finding the right seller/buyer. I don't usually buy unless they're rare items like armours, weapons etc. Otherwise collecting it yourself then selling it could give you a bigger profit + exp.


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I'm glad to help.



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