The Americas have just come up from maintenance (and the EU has maintenance tonight). I was looking at it earlier, pondering “Scheduled maintenance? Could it be gold? Surely not...” but in fact, it IS gold. That’s right, gold is now available to buy and sell on the Diablo 3 RMAH! Blizzard sneaked that one up on us (probably to get the jump on those with massive fortunes from botting). So what does this mean?
Well, currently the minimum you can charge is $0.25 per 100,000 gold. It’s a price floor (much like commodities) that’s sure to prove a problem. It means gold can never go below $2.50 per million. Those of you who’ve been following 3rd party prices or this blog know that we’re at that point (and falling) already.
It’s hard to say right now if gold will sell at this mark on the RMAH. Very few players know about it (but I’m spreading the news!) however expect word to spread slowly at first but then quickly. I predict many players will start buying gold – some will be prepared to spend above $2.50 per million, if the sellers don’t flood the market (but they will and will be attempting to sell gold like wildfire – perhaps we all should!)
Getting your gold listed early is going to be important because when there’s billions of gold listed on your auction house (or more) it’ll be hard to sell your million. Everyone will be at the price floor. Theoretically (I looked at this early on in my blog and nothing yet seems to indicate otherwise) auctions will sell in the order they’re listed. So putting a few listings up might not be a bad idea.
Don’t sell all your gold. You might spot bargains and arbitrage opportunities as this latest change to the market causes other items and commodities to fluctuate. You might also find that gold rises (a temporary aberration is possible).
If you want gold then my advice is to hold on. Don’t buy any during the initial rush if it climbs above $2.50 per million. The quantities of gold floating around the market make it unlikely that gold will do anything but hit that bottom price point. And stay there.
Ray
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ok, in eu gold is above €3 per million for some days now. today €0.32 constantly. how can it be? majority must sell it on €3.5+ or rmah tells me a much higher price and refunds a few cent after purchase. anyone tried buying? just curious.