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D'wayne
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Posted - 2011.03.31 21:53:00 -
[1]
I think I have just been ripped off.
Shield Recharger II's are sold on the market for 280k or so. Buy orders are around 120k.
One buy order is up though for 6500 of the item, priced at 500k per unit. With a minimum order of 6500 units.
Billy muggins here thinks it could be clever to buy 6500 of the item at the cheaper price then simply fill this order. So I first checked to see if the order was still there. It was, so then I bought 6500 of them. And lo and behold, the order immediately vanished. What's up with that? Is this legit? A database glitch?
It's probably some way of pushing prices up but I've never seen anyone do it before, in 6 years of playing.
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Elise DarkStar
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Posted - 2011.03.31 21:56:00 -
[2]
Originally by: D'wayne I think I have just been ripped off.
You have. They set up the buy order without enough in the wallet to cover using the escrow system, or something along those lines. When you go to sell, there isn't enough money, the buy order gets canceled, and you're left holding over-priced stock he sold to you on a different toon. It's very clever actually. One of the few scams worthy of respect.
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Renee Adoree
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Posted - 2011.03.31 21:56:00 -
[3]
MARGIN *****ES
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Herman Klaus
Caldari Touched By Klaus
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Posted - 2011.03.31 21:56:00 -
[4]
Originally by: D'wayne I think I have just been ripped off.
Shield Recharger II's are sold on the market for 280k or so. Buy orders are around 120k.
One buy order is up though for 6500 of the item, priced at 500k per unit. With a minimum order of 6500 units.
Billy muggins here thinks it could be clever to buy 6500 of the item at the cheaper price then simply fill this order. So I first checked to see if the order was still there. It was, so then I bought 6500 of them. And lo and behold, the order immediately vanished. What's up with that? Is this legit? A database glitch?
It's probably some way of pushing prices up but I've never seen anyone do it before, in 6 years of playing.
It's called margin trading. You're about 6 months behind.
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Amrumm
Rhetorical Devices
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Posted - 2011.03.31 21:58:00 -
[5]
They are using margin trading to set up buy orders and then make sure there isn't enough ISK in their wallet to cover the order. Although in this case they may have been monitoring the market for someone to buy their units, or someone else may have tried to fill it.
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Roguehalo
Caldari Roguehalo Ship Brokers
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Posted - 2011.03.31 22:00:00 -
[6]
If it looks too good to be true..........
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D'wayne
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Posted - 2011.03.31 22:04:00 -
[7]
Originally by: D'wayne Billy muggins here
Oh well.
Anyone want to buy some Shield Recharger IIs? Preferably in bulk?
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SencneS
Rebellion Against Big Irreversible Dinks
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Posted - 2011.03.31 23:10:00 -
[8]
Edited by: SencneS on 31/03/2011 23:11:50
Originally by: Herman Klaus It's called margin trading. You're about 6 months behind.
Six months... Good god, try Several years behind. This style of trading I've known about for at least 3-4 years now. It's a double edged sword because it can work against you. This is why it's good to keep large inventory of unusual items around. Filling those high priced orders with your own inventory instead of buying up the lowest order kills the "Margin Trading Exploiter's" dreams of becoming rich quickly! It's not a new exploit to say the least, and there are other more devious ones floating around too
More then one way to burn a mechanics abuser
Amarr for Life |
Femaref
Armageddon Day WE FORM VOLTRON
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Posted - 2011.04.01 00:37:00 -
[9]
Originally by: SencneS Edited by: SencneS on 31/03/2011 23:11:50
Originally by: Herman Klaus It's called margin trading. You're about 6 months behind.
Six months... Good god, try Several years behind. This style of trading I've known about for at least 3-4 years now. It's a double edged sword because it can work against you. This is why it's good to keep large inventory of unusual items around. Filling those high priced orders with your own inventory instead of buying up the lowest order kills the "Margin Trading Exploiter's" dreams of becoming rich quickly! It's not a new exploit to say the least, and there are other more devious ones floating around too
More then one way to burn a mechanics abuser
You can't fill these orders as they aren't backed by enough money. So there is no sense in keeping a stack of items.
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Misty McGinnity
Mystify Trading Company
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Posted - 2011.04.01 01:04:00 -
[10]
Originally by: Herman Klaus im a jita local scrub
[WANT TO SELL] PILOTS LICENSE EXTENSION X 7 1.3b
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Malcorian Vandsteidt
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Posted - 2011.04.01 04:56:00 -
[11]
Edited by: Malcorian Vandsteidt on 01/04/2011 04:56:23
Originally by: D'wayne I think I have just been ripped off.
Shield Recharger II's are sold on the market for 280k or so. Buy orders are around 120k.
One buy order is up though for 6500 of the item, priced at 500k per unit. With a minimum order of 6500 units.
Billy muggins here thinks it could be clever to buy 6500 of the item at the cheaper price then simply fill this order. So I first checked to see if the order was still there. It was, so then I bought 6500 of them. And lo and behold, the order immediately vanished. What's up with that? Is this legit? A database glitch?
It's probably some way of pushing prices up but I've never seen anyone do it before, in 6 years of playing.
Here is your answer straight from the mouth of a GM:
Hi,
This is not a glitch, but a valid scam and legal within the normal game mechanics. Unfortunately this means that we cannot assist you in retrieving the ISK you paid for the missiles in question.
With kind regards, GM Homonoia The EVE Online Customer Support Team CCP Games
That's right, I got hit by this also.
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Misty McGinnity
Mystify Trading Company
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Posted - 2011.04.01 05:04:00 -
[12]
Edited by: Misty McGinnity on 01/04/2011 05:04:51
Originally by: Malcorian Vandsteidt
Here is your answer straight from the mouth of a GM:
Hi,
This is not a glitch, but a valid scam and legal within the normal game mechanics. Unfortunately this means that we cannot assist you in retrieving the ISK you paid for the missiles in question.
With kind regards, GM Homonoia The EVE Online Customer Support Team CCP Games
That's right, I got hit by this also.
lol, thought you were a marketing genius
please stop posting
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SencneS
Rebellion Against Big Irreversible Dinks
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Posted - 2011.04.01 05:38:00 -
[13]
Originally by: Femaref You can't fill these orders as they aren't backed by enough money. So there is no sense in keeping a stack of items.
I had to re-read the setup because I know I've sold "some" product to orders that have attempted to do this. The key here was 6,500 order with a quantity of 6,500. Some people forget to do this.
My bad I missed the 6,500/6,500 , but you can sell "some" if they do forget set the quantity. Just have to make sure you only sell about 20%-23% of the total order. Of you try and sell more, the order fails. Of cause if they are smart and did it deliberately, they probably sold to themselves to reduce available escrow, so you can't even sell one unit. (At least thats how it showed me how to do it long ago.)
Amarr for Life |
Loraine Gess
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Posted - 2011.04.01 07:29:00 -
[14]
Originally by: Malcorian Vandsteidt Edited by: Malcorian Vandsteidt on 01/04/2011 04:56:23
Originally by: D'wayne I think I have just been ripped off.
Shield Recharger II's are sold on the market for 280k or so. Buy orders are around 120k.
One buy order is up though for 6500 of the item, priced at 500k per unit. With a minimum order of 6500 units.
Billy muggins here thinks it could be clever to buy 6500 of the item at the cheaper price then simply fill this order. So I first checked to see if the order was still there. It was, so then I bought 6500 of them. And lo and behold, the order immediately vanished. What's up with that? Is this legit? A database glitch?
It's probably some way of pushing prices up but I've never seen anyone do it before, in 6 years of playing.
Here is your answer straight from the mouth of a GM:
Please do not post GM correspondence on the forums. Spitfire
That's right, I got hit by this also.
You'd think that after playing the market for "years upon years" and "handling billions" you'd know about margin trading. All I do is some manufacturing on the side and a little technetium flipping when I'm bored and even *I* know about margin trading.
Also, posting GM correspondence is against the rules. Reported.
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Towaoc
Caldari Applied Technologies Inc
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Posted - 2011.04.01 23:17:00 -
[15]
This scam emerged shortly after the game's launch in 2003. At that time, the scam would occasionally be run with with NPC goods (NPC markets were much more prevalent at launch, and a popular means of earning ISK early in the game). Use of the scam seemed to fade away after a few months, only to reemerge just recently. I could not resist a huge LOL when I saw it set up on a couple of planetary raw materials two or three weeks ago.
Regrets to any of you that may have been taken in by this recently.
-T-
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Femaref
Armageddon Day WE FORM VOLTRON
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Posted - 2011.04.02 10:53:00 -
[16]
Originally by: SencneS
Originally by: Femaref You can't fill these orders as they aren't backed by enough money. So there is no sense in keeping a stack of items.
I had to re-read the setup because I know I've sold "some" product to orders that have attempted to do this. The key here was 6,500 order with a quantity of 6,500. Some people forget to do this.
My bad I missed the 6,500/6,500 , but you can sell "some" if they do forget set the quantity. Just have to make sure you only sell about 20%-23% of the total order. Of you try and sell more, the order fails. Of cause if they are smart and did it deliberately, they probably sold to themselves to reduce available escrow, so you can't even sell one unit. (At least thats how it showed me how to do it long ago.)
Yes, of course, there are several ways of tackling this, and the point was the min volume = order volume in the OP. Your way sounds good as well. Simply put: If the guy knows what he is doing, you won't sell a single unit to him.
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