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Advice for LeapTrade Newbies

  1. Stivfu Stivfu

    Total Posts: 21

    Joined: 18 Oct 2014

    Thanks another question for you why is the batman and mad max game overpriced and how did that happen ,was it the leap trade price or the vendor can post the price they want ?

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  2. Mobius Evalon Mobius Evalon

    Total Posts: 142

    Joined: 22 Aug 2014

    I'm not exactly sure where they're pulling their prices from but I have noticed that, in nearly all cases, the prices listed here on LT's is greater than what I can find it for just about anywhere else.

     

    Mad Max is up for $48 on LT while brand new copies are less than $35 on Amazon, and eBay has a ton of copies up for $27 right now with an average price of ~$32.

     

    I think the problem may be that sellers can set any arbitrary price for their game that they want.  Either LT is pulling price data from a not-so-great source or there's a lot of sellers who don't understand how depreciation or secondhand markets work.  If I can pay $21 less for a game somewhere else, there's no chance I'm buying it here.

     

    Creating competition may have to come in short order.  We're gonna need something like being able to see the array of available prices for each condition and select the one we want, or the lowest-priced game always matches first, or something.  The marketplace feels extremely tilted toward the seller right now.

     

    Currently, the only motivation to spend LT Bux is that the money is no good anywhere else.  I wonder if desperation to expend credits was a focal point in this new system that allows sellers to charge way too much.  "Yeah, it's twice as much as I can buy it for on eBay, but what else am I gonna spend my credits on?"


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  3. Brem Brem

    Total Posts: 2,798

    Joined: 2 Sep 2013

    Quote by Mobius Evalon


    I'm not exactly sure where they're pulling their prices from but I have noticed that, in nearly all cases, the prices listed here on LT's is greater than what I can find it for just about anywhere else.


     


    Mad Max is up for $48 on LT while brand new copies are less than $35 on Amazon, and eBay has a ton of copies up for $27 right now with an average price of ~$32.


     


    I think the problem may be that sellers can set any arbitrary price for their game that they want.  Either LT is pulling price data from a not-so-great source or there's a lot of sellers who don't understand how depreciation or secondhand markets work.  If I can pay $21 less for a game somewhere else, there's no chance I'm buying it here.


     


    Creating competition may have to come in short order.  We're gonna need something like being able to see the array of available prices for each condition and select the one we want, or the lowest-priced game always matches first, or something.  The marketplace feels extremely tilted toward the seller right now.


     


    Currently, the only motivation to spend LT Bux is that the money is no good anywhere else.  I wonder if desperation to expend credits was a focal point in this new system that allows sellers to charge way too much.  "Yeah, it's twice as much as I can buy it for on eBay, but what else am I gonna spend my credits on?"



     


    Users are not able to raise the price too high or too low. There's a limit for all games depending on the main price. If there's a game you feel is overpriced, let us know as we'll always be happy to look further into what it's going for. Also, the prices you see are the lowest, once someone else lists the game and either puts it for a lower price, the lowest price will show. I hope that helps.


     


    I'll forward this to the team though.

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  4. yankees7448 yankees7448

    Total Posts: 198

    Joined: 25 Nov 2015

    Quote by Mobius Evalon


    I'm not exactly sure where they're pulling their prices from but I have noticed that, in nearly all cases, the prices listed here on LT's is greater than what I can find it for just about anywhere else.


     


    Mad Max is up for $48 on LT while brand new copies are less than $35 on Amazon, and eBay has a ton of copies up for $27 right now with an average price of ~$32.


     


    I think the problem may be that sellers can set any arbitrary price for their game that they want.  Either LT is pulling price data from a not-so-great source or there's a lot of sellers who don't understand how depreciation or secondhand markets work.  If I can pay $21 less for a game somewhere else, there's no chance I'm buying it here.


     



     


    Personally I don't mind a $20 difference on a new game if that $20 is coming from games I don't want anymore and not actual money. I never understood all the hang ups about things like that and I don't think I ever will.

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  5. Mobius Evalon Mobius Evalon

    Total Posts: 142

    Joined: 22 Aug 2014

    Quote by yankees7448


    Quote by Mobius Evalon


    I'm not exactly sure where they're pulling their prices from but I have noticed that, in nearly all cases, the prices listed here on LT's is greater than what I can find it for just about anywhere else.


     


    Mad Max is up for $48 on LT while brand new copies are less than $35 on Amazon, and eBay has a ton of copies up for $27 right now with an average price of ~$32.


     


    I think the problem may be that sellers can set any arbitrary price for their game that they want.  Either LT is pulling price data from a not-so-great source or there's a lot of sellers who don't understand how depreciation or secondhand markets work.  If I can pay $21 less for a game somewhere else, there's no chance I'm buying it here.


     



     


    Personally I don't mind a $20 difference on a new game if that $20 is coming from games I don't want anymore and not actual money. I never understood all the hang ups about things like that and I don't think I ever will.


    $20 is a huge discrepancy.  The price has to be attractive or you have to be offering a rarity.  If I was offered Mad Max for $48 right now, I have no reason to go for it when I can buy new copies for $13 less.  Mad Max's going rate here on LT reminds me of those insane sellers at the end of the last page of every Amazon video game listing who want $75 for a used disc-only title.


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  6. BearsFan11 BearsFan11

    Total Posts: 11

    Joined: 11 Aug 2015

    Quote by Mobius Evalon


    Quote by yankees7448


    Quote by Mobius Evalon


    I'm not exactly sure where they're pulling their prices from but I have noticed that, in nearly all cases, the prices listed here on LT's is greater than what I can find it for just about anywhere else.


     


    Mad Max is up for $48 on LT while brand new copies are less than $35 on Amazon, and eBay has a ton of copies up for $27 right now with an average price of ~$32.


     


    I think the problem may be that sellers can set any arbitrary price for their game that they want.  Either LT is pulling price data from a not-so-great source or there's a lot of sellers who don't understand how depreciation or secondhand markets work.  If I can pay $21 less for a game somewhere else, there's no chance I'm buying it here.


     



     


    Personally I don't mind a $20 difference on a new game if that $20 is coming from games I don't want anymore and not actual money. I never understood all the hang ups about things like that and I don't think I ever will.


    $20 is a huge discrepancy.  The price has to be attractive or you have to be offering a rarity.  If I was offered Mad Max for $48 right now, I have no reason to go for it when I can buy new copies for $13 less.  Mad Max's going rate here on LT reminds me of those insane sellers at the end of the last page of every Amazon video game listing who want $75 for a used disc-only title.



    LT credit is NOT the same as cash

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  7. OMGsnacks OMGsnacks

    Total Posts: 142

    Joined: 14 Jan 2014

    Its all about supply and demand. If someone sets the higher price, and someone buys it for the higher price, then the system is working as intended. If someone sets the price higher and no one buys it, the seller will be forced to lower the price.

     

    And I'm not sure why you keep bringing up buying games from a store for cheaper. Thats using real money, not credits you got from leaptrade. If you traded a new release on here for market value, you got $60 credits. Can you tell me what store in the real world you can trade in a game for $60? Of course prices are higher here, the reason is because we get more money for our trade-ins. Leapbucks and real money do not have the same value, regardless of the fact that we can buy 1 leapbuck for 1 dollar.

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  8. yankees7448 yankees7448

    Total Posts: 198

    Joined: 25 Nov 2015

    Quote by Mobius Evalon


     


     


    $20 is a huge discrepancy.  The price has to be attractive or you have to be offering a rarity.  If I was offered Mad Max for $48 right now, I have no reason to go for it when I can buy new copies for $13 less.  Mad Max's going rate here on LT reminds me of those insane sellers at the end of the last page of every Amazon video game listing who want $75 for a used disc-only title.



     


    Its only a huge discrepancy if it was actual money leaving my wallet. But its not. Its fake currency that only has value on this site. As such, $20 isn't a big discrepancy. If you want to go buy Mad Max for $35 real dollars then be my guest. I am personally weighing whether I would prefer to purchase it for $48 or to wait for WWE 2k16 becomes available.

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  9. Leaptrade Leaptrade

    Total Posts: 922

    Joined: 11 Apr 2013

    For the LT Market Price, we try to keep it reasonably close to what's available in the used market across different sites.  One thing we do is provide a small change based on supply and demand here on Leaptrade.  So if there are lots of requests for a game the price will go up slightly.  This has a limited effect and is not responsible for any larger price differences you might be seeing.

     

    The larger discrepancies that you are seeing are more a result of not having the "Set your own price" feature before now.  However, now that all of you have the ability to set your own price, we don't have to make such big changes based on supply and demand.  Previously we held newer games at a higher price for longer, whereas now, we allow you as users to price your game higher or lower based on how you see the supply and demand.  

     

    Those higher priced games have already started to change in value, and over the next couple weeks you'll see those prices coming back down to be closer to the real used market value.

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  10. Mobius Evalon Mobius Evalon

    Total Posts: 142

    Joined: 22 Aug 2014

    Quote by BearsFan11
    LT credit is NOT the same as cash


    Quote by OMGsnacks
    And I'm not sure why you keep bringing up buying games from a store for cheaper. Thats using real money, not credits you got from leaptrade.


    Quote by yankees7448
    Its only a huge discrepancy if it was actual money leaving my wallet. But its not. Its fake currency that only has value on this site. As such, $20 isn't a big discrepancy.
    Despite LeapBucks not having value outside of the site, LeapTrade still deals in one of the same units as a real-cash marketplace: trades.  20 extra LeapBucks over market value means that I'm sacrificing at least one future trade (potentially up to four if I go for cheap games).


     


    Trading my game in for 60 LeapBucks and spending that on three 20 LeapBuck trades is far more attractive than spending it all on a 60 LeapBuck trade, especially when the latter is asking $20 more than the LT market price and the real-cash equivalent.


     


    20 extra LeapBucks in the seller's pocket is literally the same as going to a real-cash trading marketplace and trading away my $60 game for a $40 game in return.  The only difference on LT is that you go through an intermediary currency first.


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