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Item Pricing Theory: The Basics... or is it?


by chaos_lives

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Hold up! Take a few minutes to hear what I have to tell you. I GUARANTEE that you will be able to save money by simply reading this, in more than one way. Not too bad for a sales pitch huh?

The following is what I feel are the most important concepts every Neopian should grasp in order to live a wealthy life, errr, make that Neopian life. Note the phrase: Neopian life. If only real life was this easy, but that’s a whole other story that Dr. Sloth won’t let me share with you. And yes, Dr. Sloth did all of the final approving for this article, or at least that is what I can conclude after receiving back draft letters covered in radioactive matter, metal shavings, and transmogrification fluid. I guess what really sold me on the idea of him approving the letters was the fact that the letters had a stamp that displayed a picture of an evil grin, nothing else.

Scattered throughout the information below are *ahem* “special enhancing notes” that I am told not to remove unless I want to experience “unimaginable consequences.” They can be seen within brackets, [ ]. You should be able to get a better understanding of Item Pricing Theory from the paragraphs that follow. You should also be able to figure out what you can physically do in order to increase your knowledge on the topic and ultimately increase your wealth. Think of this as a learning experience. [No. Think of it as a brainwashing experience. Or else.]

Hopefully you will be able to become more familiar with all the commonly used phrases and terms used on the chat boards concerning this topic.

I. General Item Pricing Theory

Don’t worry. It is not as bad as it may sound. [Yes, it is; fear it.] A basic understanding of how much certain items are worth is key to not wasting excess Neopoints. Sure, a little bit here and there is fine, but I think everyone can agree; if you realize you could have saved 50k, 50,000 NP, or more by having the knowledge of the correct price, everyone would be better off, not to mention a little disappointed when realizing they spent too much for the same item they could have nabbed for cheaper. But wait, how on Neopia [Bah, you call that clever?] am I going to find an average price on thousands of items that exist? For the sake of argument, ignore the items that are buyable (less than 100k) since you can get a good feel for their prices with the use of the Shop Wizard, or if you are lucky enough, the SSW, Super Shop Wizard. As for the unbuyable items, please pay extra close attention when reading the subsequent sections below.

II. Data/Information Retrieval & Comparative Analysis

There are two main areas on the site that allow all users to enhance their range for item prices. [Do not enlighten others, as it will only blind them. Now see, that was much better use of a pun.] They are the chat boards and many people take them for granted. More specifically, the Trading/Auctions chat board and the Battledome chat board. Many topics created on these boards are simply asking what other users think the “average price” is for a certain item. A great deal of knowledge can be gained from scanning the available topics and reading some posts within them. Discussed below is a more detailed explanation of what to look for within each chat board.

The majority of the items discussed within the Trading/Auctions chat board topics deal with the more HTS, hard to sell, but often times very collectible items. You can easily notice a very wide range of items on this board, from RETIRED items, also known as r180s, to new and old plot prize items or those redeemed via rare item code, also known as r101s. Don’t forget about the more collectible items very often referred to as r99s. A lot of collectors either chat or lurk around this chatroom and usually have the answers you are looking for. Don't be afraid to ask! If you are polite and get right to the point, I am sure many helpful Neopians will oblige.

The Battledome chat boards, also known as the BD Chat, tend to deal with weapons of all categories and classes, from those seen in the Hidden Tower to the long retired weapons that are so coveted by top Battledomers and/or collectors. This board also deals with the everyday purchases and sales of the more HTS Battledome weapons. I strongly suggest listening in, or lurking, in order to get a better idea of item prices. I can’t tell you how many times I went to check the Trading Post for the price of a weapon, only to see ridiculously inflated prices, or none at all. This would result in my searching the chat boards mentioned above in hopes of talking to someone who recently sold the item, purchased the item, or knows the price for the item. [Alas, now you see the never-ending circle the HTS dealers encounter! It couldn’t have been my creation.] The good thing about weapons is, generally speaking, they usually stay at a steady price, meaning the price won’t fluctuate too far in either direction. However, as you will learn, the more desirable weapons’ prices tend to fluctuate during ‘pre-war hype’ while retired weapons tend to steadily rise, more so if the weapon is highly coveted.

III. Some Helpful Advice

Often, discussions are held within topics on what to sell a certain item for, what price the last one was actually sold for, or what people would be willing to pay for the item. Don’t take any one person’s opinion as 100% true. But instead, do however much research as you feel necessary to properly determine the price for the item. Keep in mind if the item is highly collectible or not, since this ultimately will determine if your item is worth hundreds of thousands of Neopoints or even millions!

IV. [://Distress app.243 synchronization begin\\:]

[Well well. Errm, what do we have here? Somebody trying to figure out ways to make more money? Who in the universe would actually want to commit such an outlandish, not to mention preposterous idea? I mean, isn’t it ‘fun’ to get taxed by me? The nerve you must have to write this type of article... I should take you out back and douse you in tar! The only true way of earning money is to shake little Neopians upside down and gather everything that fell out of their pockets. It is survival of the fittest after all.]

Something Has Happened!!

Dr. Sloth appears with a devilish smirk. You try to flee from him but there is just no escaping the glare shining off his monstrous pearly whites. It easily blinds you and you run into a wall. You wake up later on, perfectly fine, but poorer.

Author's Note: As I mentioned earlier, I told you I would be able to save you money. I mean, after all, did you buy anything when you were reading this?

 
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