Friday, 24 June 2011

Eve: the rag trade

There's been a lot of controversy over the high price of the cosmetic clothing items introduced into Eve this week.

This is simply a look at the market at Jita so far. Notional values are based on one plex to 400 million isk. This isn't the case right now as in the wake of the cash shop fiasco plexes have spiked down. Cheapest sell order is currently 378m, highest buy order 373.2 million. But I'm guessing that plex will move back up to 400 million because the only downward pressure Incarna introduced was a loss of market confidence over the cash shop and it did introduce upwards pressures (the loss of the ability to be unscannable means less income from pveing in dangerous space).

Looking glass ocular implant (Right/Gold)
12000 Aurum, notional isk value 1 371 432

3 have sold so far at Jita, one per day for 1.4 billion, 1.25 billion and 901 thousand isk. The cheapest Jita sell order is 1.2b the top buy order is 901.5 thousand. I estimate they're worth 1.37 billion so it looks like people are selling them under cost. At a guess the first two sold on sell order, the third was sold to a buy order in response to the failure of this market to take off. The outrage from the player community has meant this item has not sold the way speculators expected.

I have a horse in this race - mine is sitting at 1.645 billion, a 20% markup over the nominal value against the plex. I don't expect it to sell soon but I do expect it to sell eventually. There may be some risk that CCP lowers the price in response to player rage in which case I'll take a hit.

Men's 'Sterling' Dress Shirt (olive)
3600 Aurum, notional isk value 411 430

One sold on the first day for 600m, one on the second day for 117m. Sell orders are currently a few isk under 600m, buy orders are 119.99m.

This is very overpriced. Someone can't do maths and 4 other people blindly followed him, There are 5 orders within 30 isk of each other all at around 600m, almost 150% of the notional value. As with monocles one speculator has panicked and cut his losses.

Women's 'Sterling' Dress Blouse (dust)
3200 Aurum, notional isk value 365 715

4 have sold. Day one: 100m and 385m, Day two: 275m and 357m. So generally this is selling under value. The reason may be that this is the most expensive thing you can buy with a single plex. So people may be testing the market then cashing out.

Men's 'Commando Pants' (black wax) 
3000 Aurum, notional isk value  342 858

6 have sold. Day one: 46m, 46m, 400m; Day two: 69m; Day three: 100m, 400m. Sell orders are around 400m with 8 of them on the market. Buy orders are at 69m. Again this looks like people went in then got cold feet. 3 people panicked and sold to sell orders at a huge loss.

Women's Impress' Skirt (gray)
3600 Aurum, notional isk value 411 430

5 have sold. Day one 400m and 500m. Day two 300m and 454m. Day three 456m. Cheapest sell order is 445m, highest buy order is 12m. 12 mill eh? Just a sec..... Highest buy order is 12 million and one isk.

This has mainly sold in line with what speculators would have wanted. There's one low one but it's not massively low. Maybe women's clothing is a better risk than men's.

Women's 'Sterling' Dress Blouse (platinum)
4400 Aurum, notional isk value 502 858

3 have sold. One per day for 500m, 500m, 603.4m. The last one was mine, a 20% profit over the notional value. There are no sell orders, highest buy order is... wait a sec.... 18.912m and 1 isk.

I was quite relieved this sold. The cash shop has been a flop but now all I need is for my monocle to sell and I'm substantially in profit, even if my boots never sell. I think this item is doing well because it's an awkward aurum price. It's not worth cashing in 2 aurums for but it's too dear for one aurum. It doesn't hurt that it's for female characters.

Men's 'Precision' Boots
1000 Aurum, notional isk value 114 286 

12 have sold making it the second most popular item on the Jita market. 9 sold on the first day for 60m-105.5m at an average of 91.2m; Day two 80m and 113m; Day three 50m. Lowest sell order is 112.997m, highest buy order is 40.1m. There are 19 available from sell orders.

This bodes quite well for the market. It's the cheapest item and it's been selling reasonably well. I thought this one would tank because if you speculate and have less than 2000 Aurum left this is the only thing you can do with your Aurum other than sit on them. But it looks like quite a lot of people want to goosestep in stations wearing jackboots. I shouldn't mock - if mine doesn't sell for the inflated price to which I feel entitled I may become one of them.

Women's 'Greave' Knee-Boots
2400 Aurum, notional isk value 274 286

The most popular item on the market with 15 sold. 13 sold on day one for 233m to 269.5m at an average of 235.5m. 2 sold on day two for 240m and 298m. Cheapest current sell order is 300m, highest buy order is... wait a sec... 19.6m.

People love boots. Especially women. This item is going the way speculators anticipated with a lot of interest and the market outstripping supply. It helps it that it's at a slightly awkward aurum price, not much over half an aurum. If you're buying an aurum you want to spend it all, not 69% of it. It also helps that it's women's clothing and possibly slightly kinky.

So there you go - the most popular item can never be seen by anyone else, is presumably selling to men who like dressing up in women's clothes online (as most Eve players are men) and has a hint of the dominatrix about it. People must be having more fun in their Captain's cubbyholes than I thought was possible.



  1. This is fascinating. Thanks for the update! I haven't been able to login to EVE all week (work / RL, ugh!) and have been curious about the new items. Seems like CCP has tossed a metaphorical bag of crap into the giant industrial fan this week.

  2. Well as virtual cosmetic articles go they're nicely made if you like dark colours and militaristic clothes.

    What took everyone by surprise was the price. It seems to have been pitched at a level where it's exclusive, like one of those fancy restaurants with no prices in the menu. (If you need to ask, you can't afford it).

    Still I wouldn't be much of an Eve trader if I didn't profiteer.