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Thursday, January 5, 2012

How to interpret prices

We see that some misinterpret the sheet and want to make sure it is very clear what the prices mean.  Prices are in refined metal, unless noted.  When an item trades in keys or buds typically we will reflect that on the sheet.  Most importantly: prices are averages and never absolute.  If a price says "3 +/-" that means it could be 2.66 refined or 3.33 refined is the range we see as an average price.  Could that mean it trades for 2 ref?  Not likely and you are likely to do a transaction closer to the range stated...although that could involve time.  If the price says "2 - 3" that means on average prices are between 2 and 3 refined.  Could that item trade for 1.88 refined?  Certainly.  Would it trade for 1.33 refined?  Not likely a good deal for a seller and you could take more time to find a transaction closer to the range stated.

Someone who wants an item will likely pay a price in the area of what is on the sheet.  Traders who are only looking for profit will offer lower and/or try to sell higher.  Prices are not infallible and the sheet is briefly behind the market as changes in prices inevitably happen.  When trading and someone tells you something that is different than what you believe or is on the sheet, get several opinions.  If you think something is off, tell us.