Price Suggestion
~161 keys
morning
Unusual Heavy Duty Rag Morning Glory
34 votes up
11 votes down
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Comments

    If it sold for 80, why would you exclude it from the suggestion?

      Because it sold for 110 keys after the 80 key trade as shown in the screencaps, and so far it's been the only one in circulation.


      Though that isn't to say that the prior trade is excluded. It's included as I have provided links to the 80 key trade, only that it isn't in its own suggestion for technical reasons, mainly suggestion cooldowns and potential spam. I thought having suggested the most recent price it sold at would be more relevant.

        wat :/ so the reason u r excluding 80 keys is for reasons. uhhm wat

          I said in my last comment that the 80 key trade is not excluded. The links are there to show that the 80 key trade happened.


          Chronologically, the 80 key trade happened, which would have set the hat at that price but the last purchaser did not make a price suggestion. Then the ~110 key trade happened, and I thought making a suggestion to account both prices would be better than not having the price be updated at all.


          If I was able to edit my last suggestion so that it focused on the 80 key trade, I would have, but suggestions cannot be edited and I had to wait 3 days to make another suggestion to show that the hat had gone through two other trades after the 69 keys one, and the links I've provided should be sufficient data.


          I again state that the 80 key trade is not excluded. The 80 key trade happened first, then that same hat was sold for ~110 keys. This has been the only one in circulation so far and these are the only two trades that occurred for the same Morning Glory Heavy Duty Rag, first for 80 keys, then for ~110 keys. Neither trades are excluded.

            My dude, your price range is 110, which means youve excluded the 80. You should be making a suggestion for 80-110.

              The 80 key sale was for the same Morning Glory Heavy Duty Rag though, so wouldn't it be incorrect to say the price range is 80-110 keys if the only hat in circulation sold most recently for 110 keys? If a different Morning Glory Heavy Duty Rag sold for 80 keys, maybe then it would be more understandable to set the hat's range at 80-110 because two different trades were made for two different hats, but in this case it was the same hat that was first sold for 80 keys, then for 110 keys.

                I'm afraid that's just not how that works, unless there's evident proof that 80 was a quicksale (listed and sold within 2-7 days) which would also likely require proof that 110 is a more realistic value. There are no other data points to base it off to suggest if 110 is too high or if 80 is too low, so both must be included for this or you leave it outdated until there's a new sale.

                  How would leaving the price outdated be any better though? By doing that, you would exclude both trades which from a consumer's standpoint seems questionable and dubious.


                  You're right about there being no data to warrant a high and a low figure, but this is an unusual hat that has been the only one in circulation. If this was a non-unusual item suggestion, there would be reason to include a range because there are multiple instances of said item in rotation. In this hat's case, this has been the only one of its kind to have been traded, and has been first for 80 keys, then for 110 keys.


                  Take the example of the 40 key trade, which then rose to 52 keys (which by the way is the exact same hat ID #3399101312). There was no question about whether 52 keys was too high of a price because it was the only activity for that single hat, and as time goes by, prices go up. It's the general rule of inflation, and we've seen that with key prices.


                  Then the price of the hat rose to 69 keys, and such suggestion was made without question because again it has been the only instance of the hat being in rotation (again, ID #3399101312). After that, it was 80 keys for the one hat, then 110 keys for the same one hat. If there were more of these hats in rotation, then there would be grounds for skepticism, but as it stands this is the only one of its kind that has had any traction, and its price would be determined by its sales, of which this has been the only one.


                  I do agree that if there were more sales, there would be reason to change the suggestion, but there haven't. If you paid $2.40 per gallon for gas a year ago and gas prices in the current year go for $3.40, you won't be able to get a gallon for the price you paid last year. This is for an example of a commodity that is distributed more than one hat, and even in the former's case, the latest sale takes precedence.

                    As much as there's good reason in your comment, it's just the rules and precedent. You could exclude 80 if you had like a 110 and a 115 because the 80 resold for 110, but in this case there's nothing else. I'm not saying leaving the price outdated is necessarily better but I've had quite a few suggestions I've had to close for these sorts of reasons because assigning the accurate value wasn't straightforward. In this case I would wager a mod will agree that 110 is not the true value at present of this hat, given the data available and especially if someone was willing to sell it for 80 previously which in this case we don't have much evidence of it being low by way of quick sales or the like


                    Also your comments about the previous suggestion are negated by the sales they provided - the 40->52 suggestion only had 1 sale, and the 52->69 suggestion had 2 but one was a clear quicksell, leaving 1 true usable trade

                      I suppose you make a fair point. My apologies if this thread caused a bit of a headache, and hopefully it's not considered spam now that I'll be closing this suggestion and opening yet another suggestion. I'm still somewhat skeptical, but I can understand your reasoning.


                      I had some discussions with some of the parties of the trade, and it's been said that the 80 key sale was not a quicksale. The hat was never officially listed anywhere, but was traded between parties by chance on the day the trade proposition was made. It might be a longer while until a true value is established for the Morning Glory Heavy Duty Rag, but for the time being I'll set the range at 80-110 keys.

                Doesn't it make sense for the hat to be 110, as it only increases price with every trade offer? The hat in question was placed at a comfortable 69 keys, and then sold for 80 keys, and here is the latest offer at 110 keys. While 7 of this item are in existence, only one has been circulating around, so if this hat has as much traction as it does with how it's been transitioning from one backpack to another, and only increasing in price, I feel like a price of 110 would be fair to say. Also, the trade offer of 80 keys isn't being excluded from the process entirely, but the 80 key sale is only an example of the price increasing within every single trade offer, which ties into the suggestion of updating the price of this hat to sit at 110 keys.

                  That's not how price suggestions work. There is nothing here to suggest 80 is too low. It is a valid sale, it must be included in your range unless there's a 3rd sale above 100 that would warrant such an exclusion, which is not evident.