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TOPIC | A Quick Guide to Pricing Things

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Zav

Châtaigne

(any pronouns)

account age 9/9

Feb 26, 2022 16:38:59
Hello~ just dropping some advice on pricing things I picked up from Flight Rising and player run economy games. Hope it'll be useful to someone, and if you have advice of your own don't hesitate to share as well!

For Items:

Since the site just opened to more players, the economy isn't very established yet. And we don't know the rarity or popularity of things. We can guess-estimate something's value by looking at listings of similar things.

If no one has the exact thing you're selling, look at similar things and price at the highest price you see, or even higher. Then lower progressively until you hit that balance of price/value and someone bites. Someone's junk might be someone else's treasure, so don't think "there's no way this thing is worth this much." You'll be surprised!

If you're selling something that's already listed, be the cheapest always, undercut by a few notes. For example, the cheapest Catmint Tea right at the time of making this post is 645 notes. If I want to sell my Catmint Tea, I'll undercut and list it for 644 notes. Others are going to do this, so check the current price of things before hitting "relist" when your listings expire, you might need to adjust some prices to always be the cheapest one.

You might hear undercutting used negatively, that's for listings that undercut by a significant margin. Using the Catmint Tea as an example again, if the cheapest listing was 200 notes while the rest of the listings hover around 650 notes, it'll force the next person to list their Tea below 200 to be the cheapest, meaning they'd lose a huge chunk of profit. Or they could ignore the undercut price and list around 650 but they'd have to wait longer for someone to bite as the next buyer would nab the 200 notes one then be on their way. The biggest issue would arise if a lot of ppl chose to price under the major undercut price, possibly permanently lowering the value of that item; with our example that would mean listings for Tea would look like this: 185, 190, 199, 200, 645, etc. The more listings under the major undercut, the longer it'll take for the prices to rise back to regular ones, in the meantime annoying those who had listed with the regular prices in mind.

It's thus unspoken courtesy to not undercut by a significant margin. One to ten notes is fine, even 50 to 100 notes margins would be fine for very pricey items in the thousands of notes. But the example above is seen as discourteous (and a loss of profit for everyone involved)

Now, about flipping. This is buying an item for cheap and list it again for higher. For example, if someone sees a significant undercut, they'd buy that item and relist it closer to the regular price. This is a perfectly okay behavior and keeps the market prices consistent, plus makes for some easy profit.

In forums and PMs you should be wary of malicious or bad-faith trades, where someone who doesn't know the value of their items might get scammed into trading or selling it away for cheap. This is against PCE's Community Guidelines.

Advertise. Especially if it's an obscure, rare or popular item. Some players might want it but not look through the marketplace daily so advertisement through the forums and/or discord will be the way to get to them. Plus, it'll tempt players who didn't know they wanted it until they were faced with the option to have it.

For art:

It depends on what it is you are offering, how long it takes you to make it, and how much traffic you'd want. You can always (and are encouraged to) tweak your prices as needed. If your get a lot of attention and feel overwhelmed, increase your prices! I assure you, you are not insulting anyone or being unfair to potential clients. if you don't get any attention in the first few days even with advertising, lower you prices.

The less time it takes you to finish a piece, the less your price should be, relatively speaking to your more time consuming pieces. However, someone's 30min art can go for higher than someone's 2hr effort, that's the nature of a player-run economy. Don't let it discourage you! Art styles, mediums, visibility, trust, a lot of things go into art selling and little of it is easy to grasp.

Generally speaking: YCH (your character here, aka adopts for FR folk) are cheaper than art with unique lineart, and those are cheaper than art done in physical medium (because of the added cost of materials and dealing with a scanner or post office)

Most of these advices work for writing too! Just be sure to charge by wordcount!

Look at what other artists are offering that are similar to your work and guesstimate some prices from there. Then tweak as you go!


That's basically what I have about pricing. Good luck and may the notes flow your way~
-- Last edited on Aug 10, 2022 11:49:21
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