Dreamwriter said:
Well, Square's point was, in FFXI, the lowest bid *always* wins. All it took to devalue an item was to put a dozen copies of that item up for sale and then buy them yourself for cheap. The price history now shows that item as cheap, and people love cheap, so they buy them for that amount. Someone tries to fix it by charging more, and their items don't sell.
Of course, then gil-sellers with bots would corner the market on an item and charge an ass-load for it...
I never had an issue with the FFXI AH.
It should be noted that between my brother and I, we amassed close to 60 or 70 million gil in FFXI, and ended up outright buying the Kraken club. I've done a host of things in FFXI to make money and relied on the stable market prices to create in-game financial planning. It was probably the second-most entertaining aspect of the game.
The simple concept of arbitrage would allow people to sell above cost because any item sold under fair value could simply be bought out and then resold. Item limitations force merchants to distribute items in such a manner that their inventory turns over faster than they can obtain the item and of course there is no limitation imposed on how many items a person can buy.
I remember once in the games infancy where because of general human stupidity whenever it comes to anything involving finances, competition reduced the price of Zinc Ores to below what you could get vendoring it.
People whine more so because like real world economics, market systems do not favor everyone. They only favor the capable or able and by and large the vast majority never do exceedingly well, the one thing ALL players in a game want to do.
The FFXIV system is just broken all around. Runaway currency growth gives people lots of gil but it comes at the cost of reducing the value of the currency to nothing. Items are constantly undercut because nobody has any control over their inventory turnover, and you can barely give things away because items rarely leave the game, and the ability to wear any item essentially makes all items within a category compete with each other.
Instead of implementing FFXI's system and advancing it with measures like Anti-Money Laundering techniques to cripple gil-sellers, and tweaking the supply and sale mechanics, SE decided to build a system based on a whim or intention.