New G.E. option for lending

Quick find code: 185-186-182-63084589

Tom Grey

Tom Grey

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God Guthix said:
(Argument 1)

I in a way think this might hurt the economy. Because one of the things that determines how much an object is worth is they players who "want to buy it" vs the players who "Want to sell it".

It’s a simple Supply vs Demand thing. If I could just start loaning at my party that it would give it would generate infinite gp....

The people that have them would never sell them at this point... which would kill the supply....

Then the people that want it... well it would sky rocket... making said party hat in a couple week cost more than the max cash load could hold. making it an untradeable item at that point.

So, to make it clear... if no one wants to sell it.... but infinite people want to buy it... = a new untradeable item =)

This would only benefit the rich =)

(Argument 2)

If this were to go through, choosing a fare loan price would have to be set by the GE itself. Because if it became manual the person with the lowest price would always win.

And even this if the price is set and you just had the option to lend it… who’s items would lend out first… and who would receive the item first over other players….

I see a lot of upset people who could never get priority on both sides.

This being said I don't support

You can already lend items to other players, and they are still trading in and outside of ge no problem, which defeats your argument 1.

You can buy/sell items in ge at the price that you set. Lowest sell and highest buy will always win. Same with lending. If you are the first to put an item to lend for 2m, then another person puts same item to lend for 2m, and then third person would put an item to lend for 1.9m the order of borrowing will be: Third person's 1.9m, Your item at 2m, Second person's item at 2m. Which addresses your argument 2.

14-Oct-2017 15:49:50 - Last edited on 14-Oct-2017 15:50:36 by Tom Grey

Tom Grey

Tom Grey

Posts: 7,203Rune Posts by user Forum Profile RuneMetrics Profile
God Guthix said:
it doesnt address the ease of loaning items out which does change.... im not going to hunt someone down to lend out my party hat! lol... but if i could just set it in the lenders booth... well i would always leave it there.

Four issues with what you currently said:

- If I buy a party hat and keepsake it, the result is the same as I would just lend it out to people. I took it out of circulation. So there will barely be any movement with a lending feature.
- If I have the ability to flip party hats for 500m - 2b profit within a week, and lending makes at most 10m, I wouldn't expect the volume of actual trading to go down.
- Players (and humans in general) are not all rational. Panic sell and buys exist in the game. So although you could in theory keep the rare in for lending forever, in practice you are likely to sell it to prevent a significant loss of its value to your bank.
- With lending so easily accessible, the margin would most likely be smaller than what you currently get on the street (since you don't have to stand in the lenders booth as you said). Likelihood of finding a potential borrower would diminish, and the profits you gain would not be reasonable.

All in all, party hats have distinct characteristics, which all play their role in their price. Introduction of lending feature would only have a minimal impact upon rares which are in the current market circulation.

15-Oct-2017 17:22:32

Tom Grey

Tom Grey

Posts: 7,203Rune Posts by user Forum Profile RuneMetrics Profile
Never RIP said:
No support.

The actual ge can be empty of different things from time to time. We have 8 ge spaces to buy or sell. If we only had 1 space to lend, it would be too empty - all of the time.

What happens when the actual ge is empty? Noobs pay too much.

Lending via the ge will be more scams than fun. People might well "be able to" buy the item for less than it might be lent. Ge slot for lending is a very bad idea. It will cause many more tears than cheers.

Potions keep coming to mind. 1 dose, 2.... Etc. Imagine being able to set the time ud like to lend an item... 1hr, 2hrs etc... Borrowing items would be a nightmare and open to getting burned and scammed hard.

I would only support such an idea with very real restrictions and limitations.
1. We can only lend for ONE "set duration" ie. "All items lend/borrowed/hired via the ge will have a 6 hrs duration - no more, no less, that's it."
2. We do not get to set the price to lend. The price will be automatically set @ 0.5% of ge value.
You can’t lend potions. Also nobody in their right mind would pay more for an item to borrow than it is to buy. There would be some clueless people, but it’s the same with the current Ge low volume items. I do like the price set at 0.5% or even 0.05% going by Ge price. However, this will make it hard for items that are overpriced in Ge, and sell for next to nothing in actuality.

08-Mar-2019 01:43:16

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