Steam Market Crash

[Comessy]

So I was looking on the steam market today to buy a new knife in Csgo. Last week I sold my old Blue Steel Gut knife (MW) for $96CAD. I went on the market this morning to see what new knife I wanted to buy. I went to go look at the Blue Steel Gut knife to see how its price was doing, seeing if I made a mistake or not, and I definitely did not. It is now $70CAD! The Slaghter Gut (FT) went from 100 to 70, the doppler gut (FN) went from 145 to 95, and the Vanilla huntsman went from 157 to 106! What happened to the market? Why did everything just lose 30-40% value? Does it have something to do with GTA5 coming out?

[Firearm2112]

95 dollars for a fucking mass of pixels in the shape of a knife? DAYUM!!!!!

[Comessy]

95 dollars for a fucking mass of pixels in the shape of a knife? DAYUM!!!!!

Dragon Lore is $2500

 

Calm down

[Thebman712]

yes, especially stat trek items, at least the blues and purples did

 

the more items on the market, the less they are worth

[cesrai]

I think more things went into the market and some people are aggressive about there prices.

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@Firearm2112

 

Then don't buy it, it doesn't make a difference in skill it's just for looks but I heard the karambit gives extra damage.

[Comessy]

I think more things went into the market and some people are aggressive about there prices.

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@Firearm2112

 

Then don't buy it, it doesn't make a difference in skill it's just for looks but I heard the karambit gives extra damage.

Karambit doesn't do extra damage, its all just for looks

[cesrai]

Karambit doesn't do extra damage, its all just for looks

Good thing.

[Atmos]

I think more things went into the market and some people are aggressive about there prices.

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@Firearm2112

 

Then don't buy it, it doesn't make a difference in skill it's just for looks but I heard the karambit gives extra damage.

 

Hit the nail on the head. The first few people to post items generally set their price. After that price slowly spirals down, each person listing an item either just defaults to the lowest current price, or 1-2c below it to sell faster. The steam market is not the greatest example of a real-world trade market as it's incredibly unstable and random at times, completely at control of a single group who might decide to undercut the prices on certain items, like a while back when a particular trade group decided to cut Dragon claw prices, buying up a bunch of em, and taking control of a large quantity, then reselling them at a much much lower price, reducing their value significantly without changing the amount in the market.

[Th3 Mans1ay3r]

95 dollars for a fucking mass of pixels in the shape of a knife? DAYUM!!!!!

A friend of mine got $230

 

 

Dragon Lore is $2500

 

Calm down

Y dat much tho

[cesrai]

Hit the nail on the head. The first few people to post items generally set their price. After that price slowly spirals down, each person listing an item either just defaults to the lowest current price, or 1-2c below it to sell faster. The steam market is not the greatest example of a real-world trade market as it's incredibly unstable and random at times, completely at control of a single group who might decide to undercut the prices on certain items, like a while back when a particular trade group decided to cut Dragon claw prices, buying up a bunch of em, and taking control of a large quantity, then reselling them at a much much lower price, reducing their value significantly without changing the amount in the market.

That seems like a stupid plan, why would you lose money /? 

[Comessy]

That seems like a stupid plan, why would you lose money /? 

To make other people lose money

[cesrai]

To make other people lose money

-__-  So much hate.

[Zhuocheng]

95 dollars for a fucking mass of pixels in the shape of a knife? DAYUM!!!!!

Stat-Trak M9 Bayonet Crimson Web Factory New sold for like 23,850 dollars

[Snickerzz]

I think people sold their stuff to get gtav.

[Comessy]

Stat-Trak M9 Bayonet Crimson Web Factory New sold for like 23,850 dollars

Makes sense as there is a cap to how much your can sell for

[Zhuocheng]

Makes sense as there is a cap to how much your can sell for

It sold on paypal

[Comessy]

It sold on paypal

And the guy didn't get scammed?

[Misanthrope]

I think Steam being completely unregulated is highly more volatile and susceptible to market fluctuations. If someone is taking economy lessons or classes in collegue I'd be a fun project actually.

[Atmos]

That seems like a stupid plan, why would you lose money /? 

There was no reason, they were proving a point that the market is not a place to make a living.

[Zhuocheng]

And the guy didn't get scammed?

nope, not all people scam on paypal

[Comessy]

Ah guys I figured it out, it was because

 

1. Chroma 2 case came out

2. CAD went up

3. Gta5 came out

[bpw87]

You'd have to be crazy to buy anything on the csgo market at the moment. One of my knives dropped from 340 to 265usd in about a week. I have another two knives that dropped from 160  and 150 that are now sitting around 130 each.

 

Almost every item has crashed in price by about 25% or more, a few things though have held their value but it's only really sort after items.